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this is about the knowledge an aggregate data hides but the best way to aggregate data is through individuals' having ownership and choice not to share their personal data.
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Doctors have lots of experience measuring heart rates and rhythms during and after serious events--during a heart attack, for example, or in patients who have longstanding heart disease. But no one has ever been able to observe what heart rhythms are like on a continuous basis in the general population.
misunderstands the value of data as opposed to price for data. Also, direct market in personal data unlikely, currently personal data is an externality to some other transaction or exchange of value.
in list: VRM
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Many of the new ideas center on a concept known as the personal data locker. People keep a single account with information about themselves. Businesses would pay for this data because it allows them to offer personalized products and advertising. And because people retain control over the data in their lockers, they can demand something of value in return. Maybe a discounted vacation, or a cash payment.
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A challenge for the company will be whether it can offer enough money to persuade people to use the system. Consumer information is worth billions in aggregate, but individually, the bits of data are worth practically nothing. A study by JPMorgan Chase last year showed that a unique user was worth $4 to Facebook and $24 to Google. Others looked at Facebook’s recent filings with the Securities and Exchange Commission and placed the value of a user as high as $120.
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this may be the realise of the online marketing but that doesn't make it right. to argue that personalisation is a fair price for customer data implies an agreement by the customer somehow. I don't have much choice and opting out is hard, so this is not a fair exchange.
in list: VRM
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Internet advertising is growing faster than advertising in any other medium -- an average of 14.6% per year, according to ZenithOptimedia, a media services agency. Online advertising will overtake newspapers to capture 18.9% of the global ad market by 2013, becoming the world's second-largest advertising medium next to television, the agency forecasts.
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In 2011, Facebook will likely amass $3.8 billion in global ad revenues, predicts digital intelligence firm eMarketer. The social media giant now gathers data from more than 800 million active users who post in 70 languages. And search giant Google, which pulled in $9.72 billion in advertising revenues in the third quarter alone, makes 96% of its revenues from advertising. In regulatory filings, Google attributes its healthy profit to "the relevance and quality of both our search results and the advertisements displayed."
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Another fitbit style device? Well, simple is sometimes not best as I am finding with my fitbit :(
must read!
in list: VRM
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Marketers' demand for detailed information about individuals is at an all-time high. In the past three years, the personal-data business has exploded, with hundreds of companies tracking online behavior.
As a result, basic information about Internet users—gender, age, location, income and interests—is now a commodity, ad executives say. So, to gain a competitive edge, companies are assembling more detailed profiles about people that can include thousands of data points ranging from political interests to marital status. Recently, one online-dating service was found sending information about its users' "drug use frequency" to an online-tracking company.
Big Data seems to be the latest bangwagon about personal data and business. McKinsey has already written a report about how important it is, so that's now going to be the framework most business exec will apply to this area. Well, no surprises there.
in list: VRM
what cookies remain for FB to collect data from browsing even after logging out of Facebook
Last paragraph sums up the pressures on our data: "As it has with Facebook, selling personal data is certain to raise privacy concerns. Healthrageous's Lee says his company plans to market the insights it gleans from its data, rather than the raw data itself. PatientsLikeMe, however, explicitly tells users that any information they share—except identifying details, such as name and e-mail address—may be shared with pharmaceutical companies or other partners. Given that PatientsLikeMe has more than 100,000 members, users seem confident that the tools it offers, and the hope of medical advances generated from their data, are worth the loss of privacy."
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However, rising concerns about privacy may erode consumer trust and create a backlash against companies that harness web-based data without providing effective security. Instead, academics, statisticians and computer scientists are developing new approaches to organizing data that can provide much of the benefit of individual-level data -- but without as much risk, Bradlow notes. Some companies collect more personal information than they really need, creating greater potential for a damaging breach, he says, adding that firms should think carefully about what data is essential and ignore the rest.
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Government, he argues, is needed to combat instances of state-sponsored cyber attacks, which he predicts are likely to become more common unless countries work together to agree on rules for cyber warfare. Victims of cyber attacks need to rely on government "cyber cops" to detect and punish criminals, he suggests. "That job cannot be left to private companies."
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Older article but still scary.
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Telco 2.0 hopes that this translates into increased senior-level appreciation that customers’ data should be seen an asset class in its own right and one where telco’s have significant potential mining opportunities.
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We are however, more sceptical regarding the industry’s answer to the call for more open collaboration and sharing across the industry. Although it is understandable that operators should look to seek competitive advantage (and hence be quite protective about any insight or advantage they may be able to secure through piloting), this is one area where true competition is more likely to come from the Internet players and/or a more general “lock-down” from concerned public authorities “snuffing-out” innovation before it takes root.
nice too, more of an informative art than anything else. worthwhile, shows the way etc but we need more...
lovely graphic data representations but not sure how useful for data literacy and understanding. Need more analysis less 'pretty', though that can sometimes help. Not sure it does here.
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