In 2006, Clive Humbly, UK Mathematician, and architect of Tesco’s Clubcard coined the phrase “Data is the new oil. He said the following: ”Data is the new oil. It’s valuable, but if unrefined it cannot be used. It has to be changed into gas, plastic, chemicals, etc. to create a valuable entity that drives profitable activity; so, must data be broken down, analyzed for it to have value.” The iPhon…
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