From The Data Revolution by Rob Kitchin, loc 566-580:
Moreover, data constitute an economic resource, one that is a key component of the next phase of the knowledge economy, reshaping the mode of production to one that it is data-driven (see Chapter 7). Since the late 1980s, scholars such as Castells (1988, 1996) have argued that the latest cycle of capitalism is underpinned by the production of knowledge that creates new products and forms of labour, facilitates economic restructuring, and enhances productivity, competitiveness, efficiencies, sustainability and capital accumulation.
Big data, in particular, is the latest development in deepening and advancing this cycle, providing a wealth of evidence that is being used by companies to, on the one hand, monitor and evaluate company performance in real time, reduce waste and fraud, and improve corporate strategy, planning and decision-making and, on the other, to design new commodities, identify and target new markets, implement dynamic pricing, realise untapped potential, and gain competitive advantage (Manyika et al. 2011; Zikopoulos et al. 2012).
In so doing, the production and analysis of data enables companies to be run more intelligently with respect to how they are organised and operate, promoting flexibility and innovation, reducing risks, costs and operational losses, improving customer experience, and maximising return on investment and profits. By driving capital accumulation, big data facilitates new divisions of labour and the next round of uneven development. Data can thus be understood as an agent of capital interests.