While many marketers have been stressing the importance of being more data driven, people like Reza Zadeh think that if data were truly like oil, then having more of it would be more valuable.
Instead, the adjunct professor of AI at Stanford University and founder/CEO of computer-vision startup, Matroid, says that data is actually more like a commodity because these days, it’s everywhere and none of it is inherently valuable.
He points to examples of companies like Uber that fail to dominate smaller competitors in their space like Lyft despite having a huge data advantage.
He says if data bears any similarity to oil, it’s as a lubricant more than a fuel because it can help reduce the friction that comes with moving fast enough to stay abreast of tech trends and ahead of customer needs.
We wanted to ask someone who knows a lot about data to see if we could find out what makes it valuable and so we sat down with Jeff Sauer, the founder, CEO, and lead instructor of the Google marketing skills training provider, Data Driven, to ask him what kind of substance he thinks data is most like… among other things.
(Watch the video to see our interview segment with Jeff.)
What’s your best metaphor for data? Do you think more is better or is data simply a catalyst to help companies stay ahead of the game?
Share your thoughts with a comment and you might just win yourself some new Brandish Insights gear.