Tuesday

It's All About Monetizing Data

The survellience society that appears to be growing up around us is not only due to a zealous government security apparatus, but also due to savvy technology companies like Google, offering us cool free stuff in return for access to our personal data, either directly or indirectly.

On the technology side, it's all about building digital profiles of groups and even of individuals, in a rush to optimize whatever financial can can be squeezed out. 

Take Allstate insurance, for example:
Insurers are increasingly using data on customer habits to help analyze risks and set prices. The records could also be valuable to advertisers who want to know where potential customers travel and what hours they’re on the road.
“Could we, should we sell this information we get from people driving around to various people and capture some additional profit source and perhaps give a better value proposition to our customers?” asked [Allstate Chairman and CEO] Wilson, whose company is the largest publicly traded U.S. auto insurer. “It’s a long-term game.”
Bloomberg
Frankfurter Allgemeine

 

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