Do you know how much your data is worth, more importantly, what it will cost if it is lost?
The most valuable companies in the world are so valued because of the data those companies control. While initially seen as using data for advertising, Google and Facebook have expanded the use of their user data to train voice, image recognition and AI software.
Uber provides cheap taxi rides but also holds the biggest dataset of supply and demand data for personal transport. This data is enabling these companies to better understand the world’s economic, social, consumer and business infrastructures, as well as build data-driven decision-making into every aspect of their operation.
However, a crucial problem remains in that we don’t have a unified, comprehensive way to value data to enable it to be freely traded. So the question remains, how much is your data really worth?