Why Data is Worth Its Weight in Gold (and Worth Protecting)
What data do you create—and what happens to it? The journey starts here!
Fortunes and monopolies are being formed. Legislators and authorities are working tirelessly to keep pace. What we have experienced in recent years is a Wild West—a breathless race similar to the gold rushes and oil adventures of the past, with the goal of securing control and ownership over our era’s most coveted resource.
We are, of course, talking about data.
Insight
This is why data is at the heart of digitalisation
Not only is data the key to more and better insight. Data is also a prerequisite for (and simultaneously a product of) all digital technologies, devices and services—from social media to online stores, fitness watches, the Internet of Things and artificial intelligence. Just as you and I need oxygen, these things need data.
Data doesn’t just show us what has already happened. It also helps predict what might happen next and what actions we’ll take tomorrow; it doesn’t just track where someone has been, but also where they’re likely to be.
It helps us understand things like risk of disease, who might want a product or service, or who could develop a gambling problem. It can also shape what medicines we get, the ads we see, and how big a loan we can get from the bank.
Data is also the key to streamlining and automation—in our homes and offices, in factories and cities.
As you may now understand, data can be extremely valuable. At the same time, it’s easy to see the flip side of the coin. Data is a resource that should benefit everyone, without harming anyone. That’s not necessarily the case today.
In this first chapter, you’ll learn about all of this, and more. You’ll get to understand how data is not only changing our personal lives and daily routines, but also transforming our whole society.
Chapter 1
What you will learn
What is data and digitalisation—and what does it mean for me as an individual, for my workplace and for society?
What is the difference between data, information and knowledge?
What kind of data exists about me out there, where does it end up, who can see it and what is done with it?
In this first chapter, we will both look at what data is, how it works, what it’s used for and how it’s changing society. We will get to know the lifecycle of data from when it arises in a situation or activity, to when it is used. And we will see what actually happens to your data, which comes from any active or passive interaction you have with digital devices—and how you can protect your privacy.