Who owns the new oil?

"Data is the new oil" the memo is going around for a few years now! But what that mean for your brand?

We've seen examples like Toy4Us and Borders group going bankrupt because they handed over the first-party data of their customer to Amazon. Quartz covered it well here

With GDPR leading the privacy discussion; and the browsers waking up. We are heading into the Cookieless world. There would be brands, who'll wake up, smell the coffee, and make data an integral part of the organizations, and for some, it'll remain an afterthought.

Good to see NYT leading that in the publishing domain, but as the article states, this is an uphill task and most of the small publishers are not ready for that. The ecosystem is ripe for the CDP providers to come in and effectively use technology to make it cheap for the brands to own their own data (there are some good guys, who don’t want to own your data! trust me :) )

So next time you want to look at places you need to invest in! Think Oil, Think Data.