Data Science

You may have heard data is the new oil. It's not

A man pours crude oil into a funnel enveloped by steam at an illegal oil refinery site near river Nun in Nigeria's oil state of Bayelsa November 25, 2012. Thousands of people in Nigeria engage in a practice known locally as 'oil bunkering' - hacking into pipelines to steal crude then refining it or selling it abroad. The practice, which leaves oil spewing from pipelines for miles around, managed to lift around a fifth of Nigeria's two million barrel a day production last year according to the finance ministry. Picture taken November 25, 2012. REUTERS/Akintunde Akinleye    (NIGERIA - Tags: BUSINESS ENVIRONMENT SOCIETY INDUSTRIAL ENERGY) - GM1E91F187701

'While data and oil can both generate value, the parallels stop there Image: REUTERS/Akintunde Akinleye

Adam Schlosser
Project Lead, Digital Trade and Data Flows, World Economic Forum
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