Personal best

Our propensity for feeding internet services with personal data is exploding

In 2014 we made 2.4 million posts on Facebook, sent 204 million emails, sent 277,000 tweets and made 4 million searches on Google – every minute.

For users of the Ashley Madison extra-marital dating site, personal data was meant to be just that: personal. The recent hacking and exposure of data is an unfortunate example of how much private information we are willingly, and sometimes unknowingly, giving away about ourselves.

So what is personal data, and why is it so important?

To get an idea of scale we have to understand that not only are we talking about your search history, social media and emails which you knowingly generate, but also a vast amount of other data from your smartphone tracking your location and your medical history to your buying habits. The scale of this data is so huge that it’s recorded in terms of Exabytes – a unit of storage 1 billion times the size of a gigabyte (and, if written, contains 18 zeros).

For years businesses have been decidedly opaque in the value they extract from personal data.  What we are now seeing is that customers are becoming more aware of this data and its value. And this is leading to them being more protective and selective when giving it away and more concerned over the security and privacy surrounding their personal data.

In Europe the midata initiative is exploring this growing change by putting tools and processes in place for people to access their own data and understand the value that is holds. One early project has been brought together by midata and GoCompare for the financial services industry – who has used personal data to enhance the value of their products for a long time.

By understanding their customers’ spending and living habits they have been able to carefully select specific products and market them to the right customers with the right risk appetite. The GoCompare tool however lets consumers conduct the same kind of analysis on their spending data as banks, running this data through a catalogue of financial products to tell customers clearly and visually what the best product should be for them and exactly how much they could save, demonstrating the financial benefit and personalisation they can receive through access and control of their personal data.

The key to the future of personal data lies with a clear appreciation of its value. In the future people like you and I should have access to our own data and a full understanding of how sharing our data can benefit us. We should be able to personalise the amount of data that we are sharing, decide how it’s used and understand the level of security and risks that it brings. Whether you are engaging in a relationship you shouldn’t be or building your nest egg, you should know what you’re giving away and to what end.

So is the future of personal data ownership a bright one?

Personally, I think the data points that way.  The age of Big Data has already arrived, but the era of Small Data is yet to begin.

If you’re interested in this subject and want to join the conversation, leave a message below or contact me in the the Aurora team.

New kids on the blockchain

At Sopra Steria we often talk about a world ‘beyond digital’. This is so that we can help our clients to prepare themselves and their organisations for the challenges they are likely to face looking out three to five years into the future.

I shared some of the topics we have identified for a world beyond digital with an audience of digital and eCommerce professionals at a Thought Leaders of the North West event a couple of weeks ago. Our themes seemed to resonate with those in the room prompting plenty of discussion and debate.

One theme attracting a lot of interest was the ongoing challenge we face in the world of Information Security, where we see protection from attack being built into new products and services from the ground up rather than as an afterthought.

We also see an emerging era of unprecedented corporate responsiveness and agility as industry giants look to iterate their business models ‘on-the-fly’ in response to unforeseen threats and attacks in the way Sony Pictures did recently in immediately releasing ‘The Interview’ to digital channels and abandoning its plans for a full theatrical release.

Disintermediation is another concept having an immediate impact on the way we live, work and do business. Services such as Uber and AirB’n’B are already beginning to transform different aspects of the travel industry through their creative use of the crowd, the cloud and the semantic web.

In financial services we see the ‘blockchain’ threatening to disintermediate the traditional banking industry as Bitcoin continues to gain profile and transacting in such crypto-currencies nudges its way ever closer to the mainstream.

“whilst barriers to entry are very low, barriers to mass acceptance remain incredibly high”

It was in this field, at a second technology event I attended recently that I witnessed a tense debate between an established retail bank and an up-and-coming Bitcoin podcaster.

The bank, when talking about FinTech start-ups looking to establish themselves in the emerging global Bitcoin economy, outside of a traditionally regulated banking industry, suggested that “whilst barriers to entry are very low, barriers to mass acceptance remain incredibly high”, which is the kind of thing they used to say in the music industry in the 1990s.

Nevertheless, the power of the ‘blockchain’, the virtual ledger where the crowd validates transactions without the assistance of traditional banking infrastructure and regulation, may actually be found beyond Bitcoin trading, as new and emerging use cases emerge for this technology bring it further into many people’s lives.

One such service which could be leveraged by the blockchain may be that of personal data broking, where citizens take control of the value of their own personal data and begin to firmly negotiate with local and global organisations alike based on the value of their own data as derived from their own connections, online activity and their extended social graph.

Sopra Steria is working with some of the world’s most exciting start-ups in exploring these concepts, as these ‘new kids on the blockchain’ begin to collaborate with us and our clients as, together, we continue to play a vital role in the transformation of business for a world ‘beyond digital’.

We’d love to hear how you think ‘blockchain’ technology will transform our lives. Leave a reply below, contact me by email, tim.difford@soprasteria.com or on Twitter, @timdifford

Photo: used and modified under Creative Commons license thanks to BTCKeychain

Anticipating our workplaces of the future

An introduction to Aurora – Sopra Steria’s horizon scanning radar

Have you wondered why it’s getting harder to anticipate the future?  Do you ever wonder what our workplaces will be like five years from now?

Today’s digital world is changing more rapidly than ever. New ideas and technologies are now being created and released so quickly that patents and copyrighting can no longer keep up. A new pattern is emerging of hyper innovation – a collaborative approach to innovation where open relationships and co-operation is the key to competitive advantage.

Navigating through this constantly changing landscape has never been more difficult, and with new, potentially game-changing technologies appearing on a near daily basis it’s vital to be able to focus on what is important, to concentrate our efforts on these areas to work towards a successful future.

Here in the Aurora horizon scanning team we add that all important layer of focus to technical innovation. Through identifying a handful of the key topics which are going to shape our world in the next three to five years, we can nurture the innovative thinking and help seed new ideas which will remain relevant in this future.

Our work could not be successful were it not for the input from our colleagues, clients and partners and we are always interested in speaking to like-minded people.

To read a little more about the Aurora team, and to find out about the six topics that we are researching, please read our brief opinion on the world beyond digital.

If you’d like to get in touch and let us know your vision of the future, leave a reply below or email aurora@soprasteria.com.