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If you could sell your location data every day, how much would you charge? A research team including Google has carried out an experiment to find out.
Via luiy
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Rescooped by Rui Guimarães Lima from e-Xploration |
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Via luiy
The personal information that your smart phone can collect about you is increasingly detailed. Apps can record your location, your level of exercise, the phone calls that you make and receive, the photographs that you take and who you share them with and so on.
Various studies have shown that this data provides a detailed and comprehensive insight into an individual’s habits and lifestyle, information that advertisers and marketers dearly love to have.
Indeed, this information can surprisingly useful. The Google Now smartphone app uses information such as your location to provide details it thinks you might find useful, such as directions home or nearby restaurants.
But this service isn’t entirely altruistic. Google knows perfectly well that it can use this information to sell adverts and other services.
That raises an interesting question. If companies such as Google can create a business model based on the use of this kind of personal information, how much is this information worth? And how should we value it when it comes to deciding who should have access to it and who shouldn’t?
Ref: arxiv.org/abs/1407.0566 : Money Walks: A Human-Centric Study on the Economics of Personal Mobile Data