Have you ever heard the statement that data is the new oil? As a data scientist, I can tell you: This comparison is hampered in more than one way. In “Torch”, our new data science series, I will show you what characterises data as a resource and how we can exploit it.
What the phrase "data is the new oil" even means and where it comes from.
What distinguishes data as a resource from oil.
How you can generate potentially limitless value from data.
What are the practical advantages that the specific characteristics of data entail? In my takeaway, I show you how the pharmaceutical industry benefits from the "reusability" of data and how you can achieve the same.
Hi, I'm Tamara, and I am a data scientist at Accenture. Having obtained my Master’s degree in biotechnology, I now focus on solving challenges in the life sciences and pharma industry with advanced analytics. Besides my interest in biology and science in general, I love to travel – for this reason, I even worked as a flight attendant for a while. I also do yoga regularly and organize events. PS: Did you enjoy my “Torch” episode? Then let’s get in touch – I would love to pass the torch and discuss the world of data science further!
What I share with you
As a resource, data has many advantages, for example that it can be reused at a later time for another purpose (reusability). How does this characteristic help, e.g., to discover new drugs in pharmaceutical research? In my takeaway, you'll learn about a concrete example and get tips on how you can reuse data for your own data science project.
