Simon Cetin, a partner at iPROM and head of the Retoba laboratory, commented for Marketing Magazine on how data practices have evolved over the two decades since the digital world embraced the notion that data is the new oil. In the article, he reflects on the key shifts that have shaped the modern data economy and outlines the direction in which the field is likely to evolve over the coming years.
In his assessment, Simon Cetin notes that predictions regarding the pivotal role of data in the digital economy have been fully confirmed.
As he states: “Twenty years later, it has been confirmed that data is the foundation of the digital economy. We have learned to collect, cleanse and process it.”
He emphasises that today’s progress is driven by increasingly powerful algorithms that operate faster, deeper, and more broadly than ever before. In his view, the value of data lies in its transformation into information that artificial intelligence can interpret and use for more accurate reasoning and forecasting.
Looking ahead to the next decade, he highlights a shift from merely collecting data to developing systems that connect experiences from the environment and deepen the understanding of people and their needs.
He concludes: “Data remains the foundation, but real value is created within intelligent information ecosystems that improve autonomously.”
The commentary was published on the Marketing Magazine website in an article titled Twenty Years After the Famous Statement “Data Is the New Oil”.