Data is now become the blood for the modern economy, everyone is not only consuming data, but also creating data. Therefore, data cannot be consumed, it will self-motivate and reproduce. This brings the growth of the industry as well as problems.
Data is the driving factor for growth and revolution. Data has advanced new facility, new commerce, new monopoly and political layout. Digital information has changed the market rule.
IDC, market research company, predicts that in 2025, digital earth will bring trillions of data, if there were cable to transmit, it would take 450 years.
According to Wall Street, in 2016, Amazon, Alphabet and Microsoft have spent 32 billion US dollars on expenses and leasing, with 32% growth than last year.
Data quality has also changed. Data economy is shifted on analysis, whose target is the stream of real-time data – uploaded photos of users, video steam, commutation, sensors on the plane.
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More importantly, data is having greater value. At first, the data collected by Facebook and Google are used to put advertisement. In the recent years, these companies realized that data can be converted into Artificial Intelligence (AI). Those services include translation, visual recognition. With only the characteristic of words, the information can be sold to other companies.
Big data company has rich database. Like Facebook, the more comments and likes, the better Facebook knows its users. For the same reason, the more searches on Google, the more accurate of the results.
Those companies are always looking for the source of new information so that they can provide better solutions and answers.
The lacking on information of market exchange is the cost for company, due to the cost of the transaction like information querying, negotiation and contract. Those processes are easier for the internal of company and generating data is more profitable inside the company.
However, data is not comparable; therefore, acquisition on other company is a better solution, even if just interested in the data generated by the other company.
In 2015, IBM paid 2 billion USD to acquire Weather Company due to its meteorology data and data collection facilities.
Data information is not competitive, in other words, data can be copies and used by multiple people or algorithms, which means data can be used in other purposes other than the agreed ones.
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