If you are like most people, you share a lot of personal information with companies like Google and Facebook for the convenience of their free services provide. In return, these companies sell your tastes and preferences of marketing, probably for less than $ 2 a pop.You read. The Financial Times has created an online calculator to estimate how much your data is worth the penny. Mine is worth $ 1.55. Let's face it: Privacy is a commodity; even a form of currency. Or information from everyone is a different number of dollars - to marketers and you.As the Internet of Things (IoT) is proliferating, providing us more connected gadgets, traders will get to know you better. Think about what your watch, your bulbs and refrigerator can add to the conversation.
The advertising industry is already salivating over the potential of the Internet things. "The main advantage of the IoT marketers are remarkable consumption data it provides," wrote Marko Muellner in an article ClickZ. (ClickZ is a news site for the marketing industry.)Big data keep Turnin 'According to George Lee, Chief Information Officer of the Investment Banking Division of Goldman Sachs, "Ninety percent of the world's data has been created in the last two years." Large Internet companies are the primary collectors of this massive assemblage of bits.
We are all complicit in these data collection methods. We chose to join social networks, and we tell them that we are and what we do. We carry smartphones which, by their nature, are following our site. And we sign on the collection and use of data as a mandatory and quick question when we sign any new service.And most of the time, no negative results. The companies will use your data for targeted advertising and market research, to create a smarter, more efficient system for e-commerce.Yet many people feel comfortable with these practices. A growing awareness of exactly how these big data tools work is leading people to be more careful about the information they share online. In the future, as they become more perpetually connected and rooted in the information economy, consumers will look to strike a clearer definition of what data they consider "private", that they are willing to provide in exchange for services, and what kind of a price tag put online. Armed with the knowledge and perspectives, you can make this arrangement work to your advantage.Know the compromise and buy with open eyesMuellner of ClickZ recognizes that "we do not have access to this data by providing a real value in exchange." In other words, consumers will not turn over their personal information unless they get something out of it, as a free online service or a smart home comfort. By measuring the value of this service or convenience against an understanding of the type of information it can accumulate, you can intelligently weigh the risks and make an informed decision on the value your privacy.