Similar to what has occurred in the financial world, this concept of liquidity in the information industry continues to advance. In such a world, data would be a mere commodity. Common definitions, collection, rules and storage would be ubiquitous. Welcome to the 21st century. A century in which one of the most profound changes will be the continued commoditization of data and the subsequent emergence of high information liquidity on a global scale.
Information is data that has been structured to serve a purpose.
In tomorrow's economy we will continue to see an information industry that seeks to add value by filtering, validating and structuring data in ways that meet its customers' unique needs. However, continued innovation in technology, combined with more and easier connectivity, will only raise the bar of what is considered a commodity. Even today we see small firms acquiring access to market information that once was the exclusive right of large firms with massive investments in technology. In response, the industry will offer increased customization, ultimately to the point of customizing to individual consumers. A parallel path in this new economy will be a shift from information to knowledge as the primary source of competitive advantage.