The business of Data

What is the business of Data

We have been listening to a lot about artificial intelligence, machine learning, data analytics, etc. Data seems to be buzz word everywhere and it has almost convinced everyone that Data is everything. Very rarely someone actually understands what is the business of data and how it works.

What is Data ?

Anything we do, if recorded can be classified as Data. In earlier days it was telephone conversation recording, phone tapping, and manual registers data stealing which were ways of getting Data. In the generation of technology, a new sort of data has been carved, data related to our usage behavior on the Internet. What we do over the Internet, how we access devices, every info provides a lot of data about our interests and inclinations. As a human, we all want to know about the person we like or close to us as much as possible. In the same pattern, machines love all its users and they love to know as much as possible about them. The difference here is, in the prior case a person needs to work hard to get the data about others whereas in the latter case, we give data voluntary to machines. All our actions are recorded in a specific way considered as data. All the websites we visit, all the songs we listen to, all the movies we watch and almost everything we do is a subset of valuable Data.

How we are kind of robbed of our Data ?

Now, we can’t say we are actually getting robbed of our data as we voluntary click on “Allow” without a blink for every app we install. Our contacts, messages, phone recordings, camera, images everything is being observed. Its quite sure, almost all of us have noticed, how Google, Facebook, and Instagram bombard us with ads of our search term if we have searched it once. Other ways of accessing data are using cookies if we access any website through the browser. Cookies stores a lot of information about our browser usage and hence its the source behind all haunting ads that follow us wherever we go on our device. The new addition to these ways of collecting data are these assistant devices like Amazon Echo, Google Home, and Fitness trackers. A recent leakage about google home can be read here

How the Data is being used ?

Imagine a situation, we are visiting our some distant relative whom we have never met or talked before and they offer our favorite sweet. This looks like out of the blue and obviously will make us ecstatic. No doubt we will also feel astonished as to how does it happen. What if we come to know, all this while somebody was following us and giving information about us to our distant relative. How do we feel now? Cheated? we must be. This is how these companies (Browsers, websites, Apps, Os’s) use data collected about us over the period of time through various means. They offer us what we would like to have, it’s like a tailormade solution for us. This increases our buying chances multifold when we just get what we want. The data is sold or provided to product and service companies to create that tailormade solution for a user.

Why everybody is behind the business of Data?

Its very simple to reason that on the context of what these companies do with our data. The data is used to create solutions exactly what we are looking for. The product company can put a bigger price tag on the product tailormade for us since our chances of buying it is almost sure as we always wanted it. These companies are like that spy which our distant relative (product or service company) has kept behind us to tailormade the sweet (product) we love. Since the product companies can charge more for their offerings, they provide a part of their revenue to companies providing them the required Data. The reason behind the business of data is to create the power of knowledge. A knowledge about us and how we plan to live our life.

The business of data is huge and there are more layers to it. How every big tech company wants to have it all and become the ruler of the world. Why companies are loosing (investing) billions of dollar to know it all about us. We will follow up with a subsequent article on the reasoning behind this quench of data.

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