OIL & DATA DON'T MIX - Or Do They? Exploring the Possibilities
FAD vs REP: Rather than getting caught up in the "FAD" of speaking about oil and data in typical terms re resources We (Bentley) will REP (represent) something more forward-thinking; Focusing on the drivers of digital construction and the built/physical Capital Investment environment.
- F = Finite (one is, and one isn’t)
- A = Access (they are both accessible in varying degrees, one to the masses [data] and one to the rich [oil])
- D = Data and oil are essential commodities – but not the same
- R = Refinement (refining oil is breaking down hydrocarbon molecules into their most valuable structure for productization, based on customer needs. Refining data involves refining (structuring and normalizing) and transforming the data into useful information...)
- E = Economics (oil produced/produces wealth for a select class, group e.g. Standard Oil and Seven sisters (old money). While data is building new wealth, see Apple, Google, FB, Amazon revenues.
- P = Platform (one is physical on which people live on while mining for oil, usually engages hundreds at most at a time/ The other is virtual on which data lives, usually as part of an ecosystem and engages tens of millions at a time...)