In this day and age, your personal data is worth money. Marketing and Advertising companies use your data to market products that correlate to your personal likes. As technology advances, we are going to be further targeting based on our likes, hobbies, and cookies.
Everyone values their data differently. People who rated their personal information at 9 or 10 on a 10-point scale of how valuable they think it is to companies.
Chart taken from http://www.theglobeandmail.com/report-on-business/industry-news/marketing/people-seeing-the-financial-value-of-their-personal-information-aimia-finds/article32988301/
Data is worth different amounts depending on what it is.
The rising perception of value matters because even consumers who are willing to share information expect something in return. This can mean better offers on products and services they already want, or other value exchange.
People are always concerned about how their information is tracked because of the advancements in technology. We carry around mini-computers in our purses and pockets constantly. We all see more marketing messages that seem familiar with our Internet browsing history and our interests. And the more technology proliferates, the more privacy is a concern.
Earlier this year, a global network of privacy advocates raised concerns about Internet-connected devices – such as fitness trackers, “smart” TVs, toys and other products – that do not give users sufficient control over the information they collect and transmit.
There is a second side of this coin however. Many young people age 18-25 especially are more willing to share their personal data to an extent as they enjoy the customized products and services offered to them. The drawback to sharing is once companies have your data, and once you agreed to their terms without reading they can sell them to other companies at your expense.
Thank you for reading!
Please follow me @cosimocreatesbuzz on twitter and on Google+ at cosimocreatesbuzz. Check out my website at http://www.cosimocreatesbuzz.com