From raw data to useful information
“Data is the new oil!” Mathematician and IT architect Clive Humby seems to have been the first to coin the phrase in 2006 where he helped Tesco develop from a fledgling UK retail chain to an intercontinental titan that rivals the likes of Walmart and Carrefour, through the use of data. This was done with the Tesco loyalty program that pioneered offers targeted to particular segments. Several people have reiterated the concept subsequently. But the realization did not really hit prime time until The Economist in May 2017 ...
