I gave a talk recently at Crowdsourcing Week about innovation and empowerment in the data economy. I contended that we currently exist in an unbalanced data economy. Consumer trust in how brands use personal data is extremely low. Internet users are opting out, with half a billion ad blockers installed globally. Regulators are tightening data protection laws and imposing heavy fines for non-compliance. This perfect storm of macro trends is creating the right conditions for innovation and disruption.
A new era is emerging for the digital economy. Businesses starting to tackle these issues. Many are beginning to rethink the value exchange around personal data.
For businesses, there are huge benefits to engaging with customers empowered with their data. When this happens, the role of data companies then becomes more about managing the flows of data. This enables the empowered crowd to engage with businesses responding quicker to customer needs.
Managing flows of data: why data companies don’t need data
Also published on Medium.