Personal Data Marketplaces
This is just the beginning. There are also Big Data startups that are developing personal data marketplaces. These young companies are taking a different approach regarding Big Data and are empowering consumers to determine what’s done with their data and receive monetary rewards for the usage of their data.
One of such companies is Handshake. They are working hard to cut out the data brokers such as Experian or Acxiom and give consumers the power over their personal data. End-users are giving monetary rewards in exchange for their data and a bit of their time. Users can share the usual personal information as well as more detailed personal information about their hobbies and life. The more data is shared and the more time spent with Handshake, the more money consumers can make. According to Duncan White, CEO of Handshake, an individual can make up to $ 24.000 per year through the platform. Of course this requires substantial time and dedication to the platform, but it is an interesting business model.
Another new startup is Ctrlio. This company is developing a platform for individuals to become more in control of their own data, decide what to do with the data and save money too via personalized offers. The advantage for brands is that they can make very relevant offers based on rich personal profiles, resulting in higher conversion rates.
A third Big Data startup targeting personal data is Datacoup. Currently they are running a beta where they offer users $8 a month in return for their data
https://datacoup.com/ (PERSONAL DATA MARKETPLACE)