Tag Archives: Economy

People Turn Toward “Data Banks” to Commoditize on their Purchase and User Behavior Profiles

Anyone who is anti “Big Brother”, this may not be the article for you, in fact, skip it. ūüôā

 

The Pendulum Swings Away from GDPR

In the not so distant future, “Data Bank” companies consisting of¬†Subject Matter Experts¬†(SME) across all verticals, ¬†may process¬†your data¬†feeds collected from your purchase and user behavior profiles.¬† Consumers will be encouraged to submit their data profiles into a Data Bank who will offer incentives such as a reduction of¬†insurance premiums to cash back rewards.

 

Everything from activity trackers, home¬†automation, to¬†vehicular automation¬†data may be captured and aggregated. ¬† ¬†The data collected can then be sliced and diced to provide macro and¬†micro views of the information. ¬† ¬†On the abstract, macro level the¬†information¬†may allow for demographic, statistical correlations, which may¬†contribute to corporate strategy. On a¬†granular¬†view, the data¬†will provide “data banks” the opportunity to sift through data to perform analysis and correlations that lead to actionable information.

 

Is it secure?  Do you care if a hacker steals your weight loss information? May not be an issue if collected Purchase and Use Behavior Profiles aggregate into a Blockchain general ledger.  Data Curators and Aggregators work with SMEs to correlate the data into:

  • Canned, ‘intelligent’ reports targeted for a specific subject matter, or across silos of¬†data types
  • ‘Universes’ (i.e. ¬†Business Objects) of data that may be ‘mined’ by consumer approved, ‘trusted’ third party companies, e.g. your insurance companies.
  • Actionable information based on AI subject matter rules engines and consumer rule transparency may be provided.

 

¬†“Data Banks” may be required to report to their customers who agreed to sell their data examples of specific rows of the data, which was sold on a “Data Market”.

Consumers may have¬†the option of sharing their personal¬†data with specific companies by proxy, through a ‘data bank’¬†granular to the data point¬†collected.¬† Sharing of Purchase and User Behavior Profiles:

  1. may lower [or raise] your insurance premiums
  2. provide discounts on preventive health care products and services, e.g. vitamins to yoga classes
  3. Targeted, affordable,  medicine that may redirect the choice of the doctor to an alternate.  The MD would be contacted to validate the alternate.

 

The curriated data collected may be harnessed by thousands of affinity groups to offer very discrete products and services.  Purchase and User Behavior Profiles,  correlated information stretches beyond any consumer relationship experienced today.

 

At some point, health insurance companies may require you to wear a tracker to increase or slash premiums.  Auto Insurance companies may offer discounts for access to car smart data to make sure suggested maintenance guidelines for service are met.

 

You may approve your “data bank”¬†to give access¬†to specific soliciting government agencies or private firms looking to analyze data for their studies. You may qualify based on the demographic, abstracted data points collected for incentives provided may be tax credits, or paying studies.

Purchase and User Behavior Profiles:  Adoption and Affordability

If ‘Data Banks’ are allowed to collect Internet of Things (IoT)¬†device profile and the devices themselves are cost prohibitive. ¬†here are a few¬†ways to increase their adoption:

  1.  [US] tax coupons to enable the buyer, at the time of purchase, to save money.  For example, a 100 USD discount applied at the time of purchase of an Activity Tracker, with the stipulation that you may agree,  at some point, to participate in a study.
  2. Government subsidies: the cost of aggregating and archiving Purchase and Behavioral profiles through annual tax deductions.  Today, tax incentives may allow you to purchase an IoT device if the cost is an itemized medical tax deduction, such as an Activity Tracker that monitors your heart rate, if your medical condition requires it.
  3. Auto, Life, Homeowners, and Health policyholders may qualify for additional insurance deductions
  4. Affinity branded IoT devices, such as American Lung Association may sell a logo branded Activity Tracker.  People may sponsor the owner of the tracking pedometer to raise funds for the cause.

The World Bank has a repository of data, World DataBank, which seems to store a large depth of information:

World Bank Open Data: free and open access to data about development in countries around the globe.”

Here is the article that inspired me to write this article:

http://www.marketwatch.com/story/you-might-be-wearing-a-health-tracker-at-work-one-day-2015-03-11

 

Privacy and Data Protection Creates Data Markets

Initiatives such as¬†General Data Protection Regulation (GDPR) and other privacy initiatives which seek to constrict access to your data to you as the “owner”, as a byproduct, create opportunities for you to¬†sell your data.¬†¬†

 

Blockchain: Purchase, and User Behavior Profiles

As your “vault”, “Data Banks” will collect and maintain your two primary datasets:

  1. As a consumer of goods and services, a Purchase Profile is established and evolves over time.¬† Online purchases are automatically collected, curated, appended with metadata, and stored in a data vault [Blockchain].¬† “Offline” purchases at some point, may become a hybrid [on/off] line purchase, with advances in traditional monetary exchanges, and would follow the online transaction model.
  2. User Behavior (UB)¬† profiles, both on and offline will be collected and stored for analytical purposes.¬† A user behavior “session” is a use case of activity where YOU are the prime actor.¬† Each session would create a single UB transaction and are also stored in a “Data Vault”.¬† ¬†UB use cases may not lead to any purchases.

Not all Purchase and User Behavior profiles are created equal.¬† Eg. One person’s profile may show a monthly spend higher than another.¬† The consumer who purchases more may be entitled to more benefits.

These datasets wholly owned by the consumer, are safely stored, propagated, and immutable with a solution such as with a Blockchain general ledger.

Higher Education Falters: College and University Structure Radically Altered

I was reading an article from the New York Times this morning, thinking about a news piece I heard on the radio regarding Education innovation, in combination with dropping my little brother off at his college campus dorm the other night, and instantly a quote from Moneyball appeared in my mind regarding the way Universities are implemented:

“This is threatening, not just a way of doing business, but its … in their minds it’s threatening the game … really what it’s threatening is their livelihood. It’s threatening their jobs. It’s threatening the way that they do things. And every time that happens, whether it’s a government or a way of doing business or whatever it is … the people who are holding the reins … who have their hands on the switch, they go bat-shit crazy. I mean, anybody who’s not tearing their team down right now, using your model, they’re dinosaurs‚Ķ‚ÄĚ

I am not privy to the exact implementation of the Cornell-Google model, but that last line from the quote is so true, and it applies to all business colleges and universities across the globe.

The article in the New York Times,¬†When Job-Creation Engines Stop at Just One, had me take pause, and painted a gloomy picture in my mind about the job markets if your looking for a job. ¬†A decade ago, a Bachelors¬†or Masters degree were prerequisites to filtering out candidates for jobs, and now the role specifications are referencing specific skills with experience, a lot of contract work, as the New York Times article describes, and has a solid rationale. ¬†For the innovation, I found an article regarding the¬†Cornell-Google implementation¬†and at first thinking a) this implementation is years away and b) I think it’s¬†genius. ¬†I must admit, I am not¬†privy to the exact administration of their education implementation model, but wow, anyone not tearing down their colleges and universities to follow a similar model will be an artifact of higher education, and their national economies will suffer as a result. ¬†Another article I read, again, The New York Times,¬†Japan‚Äôs New Tech Generation, shows how people are taking it upon themselves, in it’s infancy, yes, however, they are meeting up to collaborate. ¬†There is a huge¬†chasm in education which has not adapted to our economies. ¬†It is probably because our economies are evolving so fast, the education system has not had a chance to catch up.

Let’s paint a picture of the new university, where we have “transformation centers”, where we take a person like¬†Mike Farmer from¬†KANSAS CITY, Kan. in his single apartment room, a shared dorm room, or in his case, shared office space,¬†in his third start-up, he is one employee, himself, and utilizes¬†seven contractors who are also juggling multiple projects. ¬†Now envision, college with a board of skill sets, which are required for real-time business projects, and you have professors guiding the resources to complete their assignments, then you have the visionaries which are driving and collaborating on projects leveraging national industry professionals discussing today’s challenges, and these juniors and seniors form teams from the pools of skill set resources, the freshman, and¬†sophomores. ¬†Skills ranging from technology to usability and design, marketing, arts and sciences, with the applications all practical and implementing them in real-time. ¬†Perhaps alumni are the industry professionals, which speak at these sessions, and collaborate on projects in between their own projects, forming mentor relationships with the juniors and seniors. ¬†Finally, transitioning from the colleges and universities, venture capitalists, and other financiers may choose to fund, or even acquire these small teams, which already have sustainable business models, proven ROI, or the business models show potential, sustainable models. ¬†Those who already have had classes have participated in business implementations, have a portfolio of work for employers, and potentially networked with professionals within various fields, and have recommendations on their work. ¬†Those graduates may even stay on their projects full time, which transition to full time opportunities. ¬†Another possibility are the colleges and universities stay as incubators, the graduates remain on campus after graduation, just like we see in outsourcing / off-shore models, teach classes, and become members of new teams, as needed. ¬†What were once ‘internships’ coveted by the few, are a necessity to become part of the college way of life. ¬†Those without projects,¬†curriculum¬†is completely transformed based on¬†statistical¬†data derived from job wanted advertisements, e.g. skills in high demand. Alumni, in between projects, and lacking innovation, sign up for ADHOC think tanks, and attempt to transform them into working resources.

Is the Apple and Samsung Battle Really about Android verse iOS?

Is this just a question of Samsung verse Apple, or iOS verse Android, but Apple is not battling the U.S. company, Google, and Google is not defending it’s partner because it has its own internally acquired hardware vendor, Motorola Mobility?

Since Samsung is a foreign company, should it be protected under United States Antitrust regulations, and if so, do they apply?  If by taking Samsung out of the U.S. marketplace, would Apple monopolize the marketplace?  Is it a grey area, the current number of mobile hardware manufacturers, relative to their share in the market, and how much control Apple would have shaping the U.S. marketplace if Samsung was removed?  Are the mobile hardware and/or OS manufactures an Oligopoly or a Monopoly?  As an example article, here is a brief statement on Monopolies and Oligopolies, and examples of Oligopolies. U.S Antitrust Laws could apply, but this decision should at least be presented to the U.S. Supreme Court, and possibly in a different context.  Is this a hardware manufacturer issue, or a mobile Operating System issue?

I continually see news articles like,¬†Apple wants ban on Samsung products, even more damages. ¬†Here is a solid paper from a Law student at Fordham regarding¬†Oligopolies and Antitrust Law. ¬†It started to make me think, along with another article from CNN Money,¬†Android races past Apple in smartphone market share. ¬†In the article it mentions how RIMM and Nokia /¬†Symbian fell in market share significantly, and the top two competitors are Apple and Android. ¬†For me, these articles raised a few questions. ¬†Clearly RIMM and Nokia/Symbian differ in form factor and feature capabilities, and have been outpaced by Apple and Android. ¬†Google purchasing Motorola Mobility seemed to enhance the lack of Google’s interest in backing other hardware manufacturers. ¬†My first question is what is the difference between generic drugs and name brand drugs, and this situation, and how do Generics persist in the marketplace? ¬†Is this battle really Android versus Apple, but Google is keeping an arm’s length because they have their own hardware manufacturer internally? ¬†Second, are every single innovation adopted by one OS and/or hardware manufacturer, e.g. mutithreaded / multitasking support, all up for debate, fines, and closed the ability to compete in the marketplace. ¬†This situation smells of geopolitics, and how American Capitalism¬†marketplace may be leveraging some form of¬†Protectionism. ¬†Again, this case, and possibly Samsung should partner with another Android OS partner, possibly outside the U.S., to transform this case to the U.S. Supreme Court, and make this about the Operating Systems rather than hardware.