Tag Archives: Information Age

The “Gold” of the Information Age

Abstract

A report by the World Economic Forum in Davos, Switzerland in 2012, recognized “Big Data” to be a completely new class of economic assets, much like gold and currency (Lohr). Big data is becoming as valuable as gold to large companies and governments around the world in the “Information Age” of the 21st century. During the California Gold Rush of 1848, thousands of people moved to California from 1848 to 1855 in hopes of finding gold and becoming wealthy. The gold rush sparked the American economy due to the vast amount of laborers and gold being acquired on U.S. soil, which helped fuel the United States through the Second Industrial Revolution. Today we are experiencing the “Rush of Big Data” around the globe. Thousands of businesses, such as Google, Yahoo, and IBM are using large quantities of data in order to create new products and markets for consumers. The “Rush of Big Data’ is fueling the Information Age of the 21st century, and causing major impacts on businesses and economies all over the world.

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