1.Abundance (noun)
Meaning: a very large quantity of something.
Example: This abundance of data changes the nature of competition. Technology giants have always benefited from network effects: the more users Facebook signs up, the more attractive signing up becomes for others.
2.Incumbent (noun)
Meaning: the holder of an office or post.
Synonyms: holder, bearer, occupant
Example: Access to data also protects companies from rivals in another way. The case for being sanguine about competition in the tech industry rests on the potential for incumbents to be blindsided by a startup in a garage or an unexpected technological shift.
3.Collude (verb)
Meaning: come to a secret understanding; conspire.
Synonyms: conspire, connive, intrigue, be hand in glove, plot, participate in a conspiracy, collaborate, scheme;
Example: Trustbusters must also become more data-savvy in their analysis of market dynamics, for example by using simulations to hunt for algorithms colluding over prices or to determine how best to promote competition.
4.Enormous (adjective)
Meaning: very large in size, quantity, or extent.
Synonyms: huge, vast, extensive, expansive, broad, wide;
But there is cause for concern. Internet companies’ control of data gives them enormous power.
5.Ubiquitous (adjective)
Meaning: present, appearing, or found everywhere.
Synonyms: omnipresent, ever-present, present everywhere, everywhere, all-over, all over the place, pervasive, all-pervasive, universal, worldwide, global;
Example: What has changed? Smartphones and the internet have made data abundant, ubiquitous and far more valuable.