“The reason why Facebook and Google are the most powerful companies in the world is because, last year, data surpassed oil in value. Data is the most valuable asset on earth.” — The Great Hack (Netflix Documentary on Cambridge Analytica)
We’ve all heard the phrase in some form of “there’s so much data.” It’s especially used to describe the need for more data scientists. The Bureau of Labor Statistics shows a 16% growth in Computer and Information Research Scientist (a subfield is Data Scientist) jobs between 2018 (31,700 employed) –2028 (37,000 will be employed). The BLS projects this growth and states that every business is constantly generating and collecting data. With an increased amount of data, there is a need for data mining and the professionals that are skilled in data mining and data analysis.
Where are the data from our lives
Data is valuable and is becoming one of the most valuable assets, as stated in the aforementioned quote. An example of a constant data collection and constant data analysis would be the weather prediction. The NOAA and TheWeather.com are collecting the wind speed, air quality, and other parameters by the hours (if not by the minutes). NOAA and TheWeather.com use the data by creating a prediction model whether to warn us of a coming hurricane for safety or just to inform us if we should bring an umbrella to stay dry for the day.
We all know of the big story regarding the data we generated relating to Facebook and Cambridge Analytica. Facebook has a lot of data generated by us. Where we have relied on Facebook to share our lives with our friends through the statuses, the pictures, and the check-ins. That summer vacation in Bali or Hawaii with pictures on the beach or jetskiing. The status of engagement, and maybe an accompanying pictures of the engagement ring. The graduation pictures, the holiday family pictures, the friend’s wedding we just attended last weekend, that picture of a home-cooked meal you made and are so proud of, and the status of just recently into a new city, or home. The conversations we have in the statuses in congratulating one another or debating over ideas. We have been generating loads of data on Facebook.
Google has data on searches, websites visited, locations, YouTube videos we have watched. Merchants don’t need to set up physical shops because Amazon can provide analytics on shoppers, how the competing products are being marketed and sold. The new restaurant that we just checked out and wrote up a review for on Yelp. The GrubHub delivery order of Chinese takeout or Pizza from last night and earlier in the week, and how you got to that decision by looking at different menus at different restaurants.
What can our data do for us, not for the corporations?
The data we generate is mostly being used by the apps and websites where we generate those data. Facebook suggests to us other friends based on the friends we have and ads we might be interested in by the interactions we have on Facebook platform. Apple is already trying to suggest optimizing screen time on their mobile devices by the data of how long individual apps are used.
Personalization takes data. Your data. What if we obtain our data from companies we are already using so we can leverage our data to personalize experience at new services, companies, or healthcare providers?
Imagine a scenario, you are on the commute with your headphones in and you are checking your smartphone for stories that you would be interested in from various news sources you have apps for. Or, you are at a restaurant and you pull out your smartphone and there is a suggestion telling you what you should order at that restaurant.
Can we use our Amazon order history to see what products we might like at BestBuy? Can we predict if there’s a chance of developing a condition from our eating habits using the pictures we post to Instagram, Facebook, or SnapChats? Or a reminder when to take a break from screen time or to meditate to calm the mind and refocus.
I want to be able to gain insight and aggregate my data generated in other apps and websites. Especially for apps or services that will improve a lot in my life.
I have come to learn that DataWallet allows you to store your data, and allowing permission on who can access your data so that companies can personalize your experience with them (made aware of by Nick Zauner).
The most controversial of the data generated, collected, and used by sharing would be Electronic Health Records. National Library of Medicine has a plan for 2017–2027 to promote data-driven discoveries in healthcare using EHR. I believe in the use of data to personalize treatments and to discover trends in medicine and epidemics.
