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Author Topic: Understanding the Value of Data..  (Read 14508 times)

Offline foxinthebox

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Understanding the Value of Data..
« on: November 04, 2021, 05:11:41 PM »
A few short years ago, the Economist made a rather bold statement – that the world’s most valuable resource is data, not oil. At the time, few realized how true this statement was, but Google, Amazon, Microsoft, Apple, and Oracle have clearly known about the tremendous value of data for decades.

In the last 20 years, these companies have been working in the shadows to collect, harness, and control the near-limitless power of data. Today, they dominate the global digital advertising market, which is expected to reach $179.77 billion in value by the end of 2021. But it’s not just about advertising – nearly every single industry in the world depends on the information technology systems these companies provide.

Gone are the days when sheiks and oil barons wielded the greatest influence and economic might. Now, a shortlist of tech entrepreneurs and “data barons” – like Jeff Bezos, Sergey Brin, Larry Page, Mark Zuckerberg, and Elon Musk – have become the most powerful and influential people in the world.

But will their reign last forever?

Finis Conner is no stranger to the world of data. He’s seen disk drives grow from the initial 5-megabyte hard drive he brought to market in 1980 to the 20-terabyte drives that businesses require today. From Conner’s 10,000-foot view of the data landscape, a sea change is on the verge of disrupting the entire data economy. But this time, the trend doesn’t center around the “data barons.” Instead, it has everything to do with the rising power of ordinary people to recover and monetize the value of the data that’s rightfully theirs.

Signs That Data Really Is More Valuable Than Oil
It’s no coincidence that the most valuable companies in the world – except for Saudi Arabian Oil Company (#3) – are the technology firms that own the most data. It’s no coincidence that Apple (#1), Microsoft (#2), Alphabet/Google (#4), Amazon (#5), Tesla (#6), and Facebook (#7) are aggressively acquiring, analyzing, leveraging, and selling the data they collect from billions of global users.
Like oil barons seeking to grow their petroleum reserves, these companies are continually pursuing strategies to increase their reservoirs of data. Last year, the total amount of global data reached 64 zettabytes (64 trillion gigabytes), and Seagate projects that global data will reach 175 zettabytes (175 trillion gigabytes) by 2025.

Most of this data is stored in large data centers – like the “Hive” facility where Facebook adds 4 petabytes (4,000 terabytes) of user data per day, and Google’s millions of servers that maintain an estimated 10 to 15 exabytes (10 to 15 million terabytes) of data. Even Tesla collects massive amounts of data to train sophisticated AI systems for its self-driving cars and arguably sources most of its success from data analysis.
Understanding the Value of Data
The best way to understand the value of data is to look at the billions of dollars in annual revenue that the most powerful technology companies are earning from it. Alphabet (Google’s parent company) used its Search, Gmail, Maps, Youtube, and other platforms – along with the free data from its users – to generate revenue of $65 billion in Q3 2021. About $53 billion of that revenue came from Google’s digital advertising sales, which skyrocketed by 43% during the pandemic.

Meanwhile, Facebook used its social media platforms – and the free data from its users – to generate revenue of $29 billion in Q3 2021. That means the social media giant is collecting about $40 in annual revenue from each of its 2.91 billion monthly active users. Approximately 97% of that revenue comes from digital advertising alone.

Facebook has leveraged its users and their data to corner about 16% of the $180 billion digital advertising market. Alphabet (Google) has done the same to control about 29% of that market.

To understand what’s really going on, Conner suggests, “We should look at the amount of data being created, and the revenue being generated from it. I don’t think people have considered what their data is worth and what they are contributing to this massive market. Just in terms of digital advertising, $180 billion is being made from harvesting other people’s data assets, but none of that revenue is being shared with the people and businesses that are actually creating it.”

Considering the tremendous wealth and power that these firms are gaining through our data, you might think it costs them a lot to acquire it. But in fact, they’re getting all of this data for FREE!

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Understanding the Value of Data..
« on: November 04, 2021, 05:11:41 PM »

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Offline Gianni_Aquinossa

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Re: Understanding the Value of Data..
« Reply #1 on: November 09, 2021, 08:20:53 PM »
So these firms are collecting people data's for nothing. I was checking CIRUS Foundation and saw they are also working on data-collection for turning them into value. That Web3.0 thing is going to be huge and CIRUS will get benefit from it for sure. I just really can't understand why people let that HUGE firms to collect their data for ADS... While Cirus offering something very special,can you explain it to me?
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Offline royalfestus

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Re: Understanding the Value of Data..
« Reply #2 on: November 09, 2021, 08:45:19 PM »
So these firms are collecting people data's for nothing. I was checking CIRUS Foundation and saw they are also working on data-collection for turning them into value. That Web3.0 thing is going to be huge and CIRUS will get benefit from it for sure. I just really can't understand why people let that HUGE firms to collect their data for ADS... While Cirus offering something very special,can you explain it to me?

They are not collecting your data for nothing. Its an exchange for your needs
Technology rules the world, after all, you can't be here without data even and you will also make back money with it.
I got the point several billions of people who uses data daily are more that those who must have a deal with the oil and gas today.

Offline Mohammad_Gassani

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Re: Understanding the Value of Data..
« Reply #3 on: November 09, 2021, 09:18:06 PM »
I just realize the value of data ,great article thanks for it. Also I checked CIRUS and think they are really working on new techs. Web3.0 will be here in near future and i believe CIRUS going to get benefit from it for sure. But i shocked when i realize i know little about CIRUS lol. I have to dive into it and see if it really that good.

Offline Anthony_Plastova

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Re: Understanding the Value of Data..
« Reply #4 on: November 15, 2021, 03:19:01 PM »
After that thread you started,i did a lot of research about CIRUS and saw they already have amazing developer team. That data-collecting mechanism need to change imo,as a long-term investor i always hate to give my data to ISP's,KYC's are bullsh-t to me. I hope Cirus could change it with their high-tech and Web3.0. Data-collection than turning into value is great innovation,wish good luck to team.   

Offline Cursedbear

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Re: Understanding the Value of Data..
« Reply #5 on: November 18, 2021, 11:39:14 PM »
Mate,CirusFoundation recently mentioned in Forbes... I didn't realize that project yet but damn it seems really good to me now. I believe once Cirus got more popularity it will effect price if market recovers itself.Currently at exact buying spot imho.

Offline Rodan_Jarikic

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Re: Understanding the Value of Data..
« Reply #6 on: November 30, 2021, 03:05:15 PM »
The launch of the Cirus Platform, which provides instant participation in the Cirus ecosystem, will be very soon. It is planned as Q4 and in my opinion that will be a very good start for 2022. :)

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Re: Understanding the Value of Data..
« Reply #6 on: November 30, 2021, 03:05:15 PM »


Offline Avril_3646

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Re: Understanding the Value of Data..
« Reply #7 on: December 01, 2021, 12:13:38 PM »
 A platform that converts data into cryptocurrency and allows users to easily convert that value into DeFi goods or offramp into cash.After hearing this definition, I decided to congratulate the Cirus Foundation.I'm surprised how this is possible with data.

Offline Rodan_Jarikic

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Re: Understanding the Value of Data..
« Reply #8 on: December 02, 2021, 11:14:31 AM »
A platform that converts data into cryptocurrency and allows users to easily convert that value into DeFi goods or offramp into cash.After hearing this definition, I decided to congratulate the Cirus Foundation.I'm surprised how this is possible with data.


I was surprised too but then i learned that Cirus is a simple yet powerful platform that converts your data into bitcoin and uses it to gain access to DeFi and other Web 3.0 revenue streams. It enables you to manage, monetize, and earn directly from your greatest digital asset by allowing you to control, monetize, and profit directly from your data.

Offline Pandora199

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Re: Understanding the Value of Data..
« Reply #9 on: December 03, 2021, 11:05:47 AM »
Good news for Cirus is slowly starting to come in. We really needed it.Have you heard crypto.com news?? It is a such a good step from Cirus.

Offline Rodan_Jarikic

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Re: Understanding the Value of Data..
« Reply #10 on: December 03, 2021, 08:42:15 PM »
This was great article,but let me remind you something,oracles are necessary for data too. Oracles are bridge for real-time data to the blockchain via smart contracts. Just do research about oracle protocols and it will amaze you im pretty sure. I recently checked SupraOracles (one of the biggest oracle protocol) and saw their latest works. It really amaze me..

Offline Diaz8789

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Re: Understanding the Value of Data..
« Reply #11 on: December 15, 2021, 04:05:29 PM »
hey guys, have you seen Cirus' twitter account? they have missions for each day and there are very nice rewards. Cirus started this event for Christmas. ı think you must look

Offline Ghostrider

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Re: Understanding the Value of Data..
« Reply #12 on: December 17, 2021, 04:26:52 PM »
Cirus will enable users to gain real value from their data. A “Data Vault” function is also available. It allows users to define what they want to share and what they do not want to share. This ensures transparency for everyone

Offline Matt_Aniston

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Re: Understanding the Value of Data..
« Reply #13 on: December 17, 2021, 07:10:24 PM »
For those who enjoy to understand and learn CIRUS evolution,I suggest you to check that article,CIRUS is moving forward to achieve what they deserve,2022 will be a CIRUS year imho.
Link of article : https://blockonomi.com/cirus-foundation/
Dream by dream..

Offline Feraye_deniz

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Re: Understanding the Value of Data..
« Reply #14 on: January 02, 2022, 11:30:54 PM »
There are other projects that working on Data collecting,Itheum is going to launch Data DEX,where you could safely trade personal dataset. It sounds unique and necessary to me! Being my favorite so far!

 

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