Using broadband to create a data trade

Proponents of connecting more people to the internet via a high-speed connection should consider the, “and …what else?” response from consumers who have not yet taken the broadband plunge. The violation of data privacy these consumers hear about may be an impediment to connecting to cyberspace so there has to be some benefit offsetting this fear.

I’ve talked in the past about consumers being able to enter the data market and offer their data for some type of compensation. Well, we’ve all heard the saying, “There’s an app for that.” In an article for Forbes, Juan Mitchell describes the data mining services of allows consumers to aggregate their online data from multiple platforms including social media and store the aggregated data on to a device of their choice. The consumer then has the ability to make that data available to third parties for some type of compensation.

I like the idea because it gives consumers economic empowerment, especially in an emerging “Internet of Me” world.

First, by providing consumers the ability to trade data, consumers have an incentive to try high-speed broadband to connect to the internet and use these data mining apps.

Second, it provides broadband access providers with another demographic to consider when deciding where to deploy facilities, in this case a demographic made up of burgeoning data entrepreneurs.

Finally, information traders and acquirers have another tool for determining the price point for someone’s data. Not only is an acquirer getting accurate data from a consumer, they are getting a better sense of the data’s value as they eventually have to bid for the data as opposed to getting data from a third party that may have obtained data while violating a privacy policy.

A product that gives the individual consumer this type of economic empowerment is a positive in my book.

About Alton Drew

Alton Drew brings a straight forward and insightful brand of political market intelligence. Alton Drew graduated from the Florida State University with a Bachelor of Science in economics and political science (1984); a Master of Public Administration (1993); and a Juris Doctor (1999). You can also follow Alton Drew on Twitter @altondrew.
This entry was posted in apps, big data, broadband, data brokers, e-commerce, Internet, Political Economy, wireless and tagged , , , , , . Bookmark the permalink.

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