Information has never been this much value that is today. In the business world today, it’s not wrong to claim the base of all economic interactions is on the information. Data is 21 century’s gold. What is business data exactly? In simple words, It’s any bit of information linked with running a company. Operational costs, strategic overviews and customer contact information are included.
In the business world, there is a perception that everyone who owns data owns the future. Access to enough data about customers enables you to understand customers desires, realize changing patterns in consumers’ behaviour and predict the needs of tomorrow. Within a mere decade or two, tax on data may be the most important part of governments’ tax policy.
At the same time, there are certain concerns about how giant companies use their customers’ personal information. Facebook – for instance – is accused of selling its members’ information. Increasing the data’s value certainly doubles the need for ironic rules to protect human rights.