Fractional Distillation - harnessing the power of data

A year ago, I borrowed what then became a popular phrase - data is more valuable than oil.

However, is data more valuable than oil?

The value in oil comes after fractional distillation. A process where it separates crude oil into useful substances (or fractions). Useful substances is the value created from oil - for example the ability to power cars and homes or create roads and tyres.

The same goes for data - of course, data is not a chemical so it cannot go through fractional distillation per se, but the scientific analogy remains.

In the case of data, we are doing the opposite as we are not breaking data down but combining many data sets to extract value. We can take separate, disparate data sets to create something of value. For example, a change in business process and operations or a creation of new products and solutions.  It can help us to understand customer behaviour and operational performance.

In the energy world, it can help us help the planet. 

Only when we understand how the outputs of our actions can help us make decisions to improve our energy consumption and carbon emissions can we see the value of data.
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Data is as valuable to business and society as oil however, only when it has gone through its own version of fractional distillation.