Using Data Responsibly

It is possible that the future would lead to greater democratization of access and use of personal data. This could lead to more data sharing and, eventually, transform individuals from consumers of data to both consumers and suppliers of data. As data suppliers, individuals would be able price the data they produce and share with businesses or governments. 

The market power of private organizations, especially data collecting platforms and networks, possibly, could also be moderated. This is possible through the emergence of competition (such as new social networks or online service providers), regulation by governments or the platforms themselves, and shifts in consumer preferences en masse, which could privilege privacy or control over access. Any such shift will emerge out of negotiation among market players, but should ideally seek to balance innovation by these firms with respect for individuals' rights. 

Recent trends are shifting the value distribution to the producers of data, in terms of such things as better health care (cancer research, medical treatment, or diagnosis) and better public services (such as traffic and road planning, water planning). Technologies such as micropayments may also lead to innovation in this area, as noted, possibly allowing people to directly sell their data to businesses and governments in the future. The rise of AI and the Internet of Things will help individuals trade personal data and receive personalized services based on personal data. 

Apart from the technological aspects and drivers of this change, the personal data market that may emerge would 64 Information and Communications for Development 2018 benefit from more consistent structuring and organizing of data. This is because such organizations ­– focusing on the benefits to people rather than to organizations alone ­– could help aggregate or combine data across platforms and permit portability.

Already, data can be accumulated and cross-referenced across various financial services and platforms to detect opportunities to maximize returns on investment. For instance, online personal finance tools have begun to link people's bank, securities, retirement, and credit card accounts to provide ideas and offer products or services to budget better, increase access to credit, or identify investment opportunities.

But we could go further: linking personal data about physical movement collected through phone location or health tracking, combined with data about transportation use, could be combined to provide people looking to exercise with ideas about adopting a routine that increases walking. Shopping patterns across various stores could be combined to provide better choices or insight to people about ways to save by changing the locations or timing of their purchases. The potential opportunities to merge data sources and improve decision-making holds promise, again, with the caveat that the costs and risks need to be managed.

People as a focus for data markets

The data revolution holds great promise. When better data is available to people, they can make better decisions and find the information needed to improve their economic and social lives. The technological tools to realize these benefits exist today and will develop further. As more people connect to the internet and new ways of collecting, managing, and analyzing personal data become commonplace, more people, including the poor, will participate in the growing data economy. 

But these changes will not come without their risks and costs. Without measures in place to protect privacy, agency, and control over data, the risk is that businesses and organizations will benefit the most and few of these improved opportunities will pass on to individuals generating these vast troves of data. If the data economy does not become more inclusive, with wider access to the digital tools and the skills to use them, it is likely that the data economy will not benefit the poor.

Finally, as noted, better data will only go so far to improve opportunity; institutions, infrastructure, and rules will need to be in place to ensure that people can use the information generated through the exponentially growing streams of data. The digital data revolution might be upon us, but people will also need reform in the analog world to effect real change in their lives.