2024-09-06 14:00:42
In the digital age, data has become as valuable as oil once was. Whether it is personal information, online behaviors or technical data, it is at the center of today’s economic strategies and legal discussions. The processing, storage and commercial use of data pose new challenges, as laws sometimes struggle to keep up with the rapid evolution of technologies.
It is therefore important to understand what digital data is, its characteristics and functionalities in the modern economy: the digital economy. This is what this article offers you.
Digital Data Today
Digital data is much more than a simple representation of information: it is a real resource for today’s economy. Congolese law defines it as a “set of information that can be stored, processed or analyzed within a computer system or an electronic communication network”. In France, it is described as the “representation of information in a conventional form intended to facilitate its processing”.
In other words, digital data represents everything that is encoded and stored in computer systems, such as emails, photos, or online purchasing behaviors. As a result, it is becoming an essential component of contemporary economic strategies, particularly in sectors such as digital platforms, e-commerce, or social networks.
The revolutionary characteristics of data
Digital data has several characteristics that are new in today’s economy and society.
1. Immateriality and fluctuation
The first specificity of digital data lies in its immateriality. Unlike physical objects, data has no tangible form. You cannot touch it, which gives it a certain unprecedented flexibility. It can be created, copied, modified and distributed in the blink of an eye across the globe, which gives it enormous power in the economy.
2. Absence of fixed location and geographical delimitation
Another characteristic of data, a direct consequence of its immateriality, is that it is not limited by geographical boundaries. A company can be located in one country, but offer its services and use the data of people scattered across the globe.
Strategic data features
Data is not only important for its ability to travel around the world, it also plays a key role in the economy thanks to the functionalities and uses it makes possible.
1. Digital platforms and network effects
Companies that make up the web giants (GAFAM, BATX and NATU) are collecting and exploiting user data in an ever-increasing manner. This collected personal and behavioral information is then used to offer these users personalized services, often targeted advertising. These companies become increasingly powerful as the number of users on their platforms increases. This is what is called the “network effect”: the more users there are, the more valuable the service becomes.
2. Collection, exploitation and monetization of data
It’s a fact: Big digital companies collect user data in bulk. They analyze this information to better understand consumer preferences and then sell this data to business partners or use it for highly targeted advertising. This business model generates huge or colossal profits for these companies, making data a key asset that can be exploited by these companies.
In conclusion, digital data redefines the rules of the game of the modern economy born of the digital revolution, thanks in particular to its characteristics and functionalities. It is both a driver of innovation and a challenge for governments and tax systems, which must continually react. In the next article, we will develop the tax challenges posed by digital data and the responses provided by public authorities around the world.
Freddy BASILA BULAMBO
M2 digital economy law – 2023/2024 class
Sources :
- Ordinance-law of the DR Congo of March 13, 2023 relating to the Digital Code.
- French decree of December 22, 1981 of the Minister of Industry and the Minister of National Education relating to the enrichment of computer vocabulary.
- M.-A. Frison-Roche, Internet, space of interregulation, coll. the Journal of the Regulation, Paris, Dalloz, 2016, 208 p.
- Y. Meneceur, Artificial intelligence on trial: Advocacy for international and European regulation, Brussels, Bruylant, 2020, 450 p.
- S. Lequette, Digital Law, Paris, LGDG, 2024, 858 p.
- F. Bloch, B. Caillaud et al., Digital taxation: what lessons can be learned from theoretical models?
About Freddy BASILA BULAMBO
In training for a Master 2 in digital economy law at the University of Strasbourg.
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#definitions #specificities #Digital #Economy #Blog
Data is the oil of the 21st century quote
Table of Contents
The Power of Digital Data in the Modern Economy
In the digital age, data has become a valuable resource, similar to oil in the industrial era. It is at the center of economic strategies and legal discussions, with the processing, storage, and commercial use of data posing new challenges as laws struggle to keep up with rapidly evolving technologies. To understand the significance of digital data, it is essential to grasp its characteristics and functionalities in the modern economy.
What is Digital Data?
Digital data is more than just a simple representation of information; it is a real resource for today’s economy. According to Congolese law, digital data is defined as a “set of information that can be stored, processed or analyzed within a computer system or an electronic communication network” [[2]]. In France, it is described as the “representation of information in a conventional form intended to facilitate its processing” [[1]]. In essence, digital data represents everything that is encoded and stored in computer systems, such as emails, photos, or online purchasing behaviors.
The Revolutionary Characteristics of Data
Digital data has several characteristics that are new in today’s economy and society:
1. Immateriality and Fluctuation
The first specificity of digital data lies in its immateriality. Unlike physical objects, data has no tangible form. You cannot touch it, which gives it a certain unprecedented flexibility. It can be created, copied, modified, and distributed in the blink of an eye across the globe, which gives it enormous power in the economy.
2. Absence of Fixed Location and Geographical Delimitation
Another characteristic of data, a direct consequence of its immateriality, is that it is not limited by geographical boundaries. A company can be located in one country, but offer its services and use the data of people scattered across the globe.
The Role of Digital Data in the Economy
Digital data has become an essential component of contemporary economic strategies, particularly in sectors such as digital platforms, e-commerce, or social networks. The processing and analysis of digital data enable companies to gain valuable insights into customer behavior, preferences, and needs, allowing them to tailor their services and products accordingly.
Career Opportunities in Digital Data
As the importance of digital data continues to grow, so do the career opportunities in this field. Professionals such as Digital Data Analysts [[2]]play a crucial role in helping companies make sense of their data and make informed business decisions. To become a Digital Data Analyst, one must possess knowledge of web marketing techniques, ROI analysis, and data analysis tools [[2]].
Moreover, institutions like INSEEC offer specialized courses in Digital and Data, preparing students for careers in digital marketing, social media management, and community management [[1]].
Conclusion
digital data is a powerful resource that is revolutionizing the modern economy. Its immateriality, flexibility, and lack of geographical boundaries make it an essential component of contemporary economic strategies. As the importance of digital data continues to grow, so do the career opportunities in this field. It is crucial for individuals and organizations to understand the characteristics and functionalities of digital data to unlock its full potential.
References:
The Power of Digital Data: Understanding its Characteristics and Functionalities in the Modern Economy
In the digital age, data has become a valuable resource, comparable to oil in the past. It is at the center of today’s economic strategies and legal discussions, with the processing, storage, and commercial use of data posing new challenges for governments and tax systems. To fully understand the implications of digital data, it is essential to define what it is, its characteristics, and its functionalities in the modern economy.
What is Digital Data?
Digital data refers to all information that is shared using technological devices. This includes photos, videos, text-based files, electronic books, and newspapers [[2]]. Congolese law defines digital data as “a set of information that can be stored, processed or analyzed within a computer system or an electronic communication network.” In France, it is described as the “representation of information in a conventional form intended to facilitate its processing” [[1]].
Characteristics of Digital Data
Digital data has several characteristics that are new in today’s economy and society. Firstly, it is immaterial, meaning it has no tangible form and can be created, copied, modified, and distributed quickly across the globe [[1]]. This flexibility gives digital data enormous power in the economy. Secondly, digital data is not limited by geographical boundaries, allowing companies to offer services and use data from people scattered across the
