The trade with data

The trade with data, as exercised by data mining and data analytics companies, then becomes the trade with an asset that builds on future expectations, just as brokers’ trade with stocks and derivates relies on making a bet on the value of an asset in the future. This trade – and the digital economy that connects to it – is held up as long as the data bubble is intact and enough parties believe in the value of data so as to use it as a means of exchange between them. Hence, the industry that trades data relies on the belief in the “myth of big data”, namely that there will be future money to make through the exploitation of data sets for specific economic purposes. While it is hard to deny that some new services have been and will be created thanks to big data, it may be the case that in the future it turns out that big data cannot offer more than a few surpluses made by targeted advertisement or specific new services, economic parties may lose trust in the fulfilment of big data’s future promise –and in its currency. Consequently, the exchange rate of the data currency will drop, losing its attractiveness for investments

Quelle / Link: Research on Identity Ecosystem

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