Connect - Learn - Fundraise
First time here? Checkout the FAQs!
x

*Math Image Search only works best with zoomed in and well cropped math screenshots. Check DEMO

What does "data is the new oil" mean?

Our AI technology rapidly solves problems, while our available tutors provide personalized support and clarification to ensure efficient and effective solutions.


1 like 0 dislike
99 views
What does "data is the new oil" mean?
in Data Science & Statistics by Bronze Status (5,558 points) | 99 views

1 Answer

1 like 0 dislike
Best answer
The phrase "data is the new oil" is often used to refer to the growing importance and value of data in the modern economy. Just as oil has long been a valuable resource for powering vehicles and other machines, data is becoming increasingly important as a source of value and insight for businesses and organizations.

The phrase highlights the fact that data can be collected, processed, and analyzed to extract valuable insights and knowledge, which can be used to drive decision-making and improve outcomes in a wide range of industries and sectors. In this sense, data is becoming a critical resource that can be harnessed and monetized in much the same way as oil has been in the past.
by Bronze Status (5,558 points)
selected by ♦

Related questions

4 like 0 dislike
1 answer
Find the mode, mean and median of the following grouped data:
asked Jun 19, 2020 in Data Science & Statistics by Joshua Mwanza Gold Status (26,655 points) | 8,797 views
1 like 0 dislike
1 answer
How is safflower seed oil used for African skincare?
asked Oct 3, 2022 in Health & Wellness by ♦MathsGee Diamond (88,926 points) | 110 views
1 like 0 dislike
1 answer
How is sunflower oil used in African skincare?
asked Sep 30, 2022 in Health & Wellness by ♦GaussTheBot Diamond (44,867 points) | 176 views
2 like 0 dislike
1 answer
How is olive oil used in African skincare?
asked Sep 30, 2022 in Health & Wellness by ♦GaussTheBot Diamond (44,867 points) | 140 views
2 like 0 dislike
1 answer
How is jojoba oil used in African skincare?
asked Sep 30, 2022 in Health & Wellness by ♦GaussTheBot Diamond (44,867 points) | 152 views
2 like 0 dislike
1 answer
When should I use oil in my African skincare routine?
asked Sep 30, 2022 in Health & Wellness by ♦GaussTheBot Diamond (44,867 points) | 158 views
1 like 0 dislike
1 answer
What is the mean, median, and mode, and how are they different?
asked Dec 6, 2022 in Data Science & Statistics by ♦MathsGee Diamond (88,926 points) | 145 views
0 like 0 dislike
1 answer
What is Mean?
asked Jul 23, 2021 in Data Science & Statistics by Student Bronze Status (5,662 points) | 213 views
1 like 0 dislike
1 answer
Find the mean of these numbers: $5,11,2,12,4,2$
asked May 31, 2021 in Data Science & Statistics by ♦MathsGee Diamond (88,926 points) | 1,471 views
3 like 0 dislike
1 answer
Find the mean, median, mode, and range of the following values: $17,7,11,13,2,12,7$
asked May 21, 2021 in Data Science & Statistics by ♦MathsGee Diamond (88,926 points) | 1,542 views
3 like 0 dislike
1 answer
Calculate the mean, median and mode of 11,14,14,17,17,41,44,47,71,74,77
asked Mar 30, 2021 in Data Science & Statistics by ♦MathsGee Diamond (88,926 points) | 517 views
0 like 0 dislike
2 answers
Find the mode, mean and median of the following:
asked Jun 19, 2020 in Data Science & Statistics by Joshua Mwanza Gold Status (26,655 points) | 305 views

Join MathsGee Student Support, where you get instant support from our AI, GaussTheBot and verified by human experts. We use a combination of generative AI and human experts to provide you the best solutions to your problems. Ask a question now!


On the MathsGee Student Support, you can:


1. Get instant answer to your questions


2. Get expert-verified answers


3. Vote on questions and answers


4. Tip your favorite community members


5. Join expert live video sessions (Paid/Free)


6. Earn points by participating


7. Start a Fundraiser


8. Take a course


9. Enjoy our interactive learning resources



Posting on the MathsGee Student Support


1. Remember the human


2. Act like you would in real life


3. Find original source of content


4. Check for duplicates before publishing


5. Read the community guidelines




MathsGee Student Support Rules


1. Answers to questions will be posted immediately after moderation


2. Questions will be queued for posting immediately after moderation


3. Depending on the number of messages we receive, you could wait up to 24 hours for your message to appear. But be patient as posts will appear after passing our moderation.




MathsGee Student Support

Subjects

Top Users Mar 2023
  1. MathsGee
  2. Maths Genie
  3. Edzai Zvobwo
  4. Siyavula
  5. maths-genius-5eb2ff4
Top Users 2023 Mar 27 - Apr 02
  1. GaussTheBot

    39514 Points

  2. MathsGee

    25250 Points

  3. Maths Genie

    7811 Points

  4. Siyavula

    3097 Points

  5. Claudia

    2720 Points

30 points

Resources


Agriculture resources

Art & Crafts Resources

Blockchain & Crypto Resources

Business & Entrepreneurship Resources

Careers & Life Skills Resources

Communication Resources

Computer Science Resources

Cybersecurity Resources

More learning Resources

MathsGee Student Support

Most popular tags