The value of our personal data in the Big Data and the Internet of all Things Era

Abstract

The fourth industrial revolution, in which we transit, is preceded by a digital economy based fundamentally on information. And although estimates have been made on whether the data moving in the digital economy flow are from sensors or machines or come from each of us, one thing is certain, all information has a monetary value. Within this flow of information are our personal data. Every moment that we use an electronic device we leave behind vestiges of our life, which are collected by the machines to generate value to the companies. In this way our information is subject to market rules, supply and demand. We have become intangible beings, mercantilized, giving our bodies of data to the science, innovation and technological development. With the use of technologies such as Big Data and IoT, more information less is better. The speed with which our information is collected and treated as well as commercialized is undermining confidence in the digital market. Concern about the misuse of our personal data, or about the information we know about us, raises fundamental questions about privacy, ownership of information and human rights. The question of who should benefit from products and services based on digital data (generated by users) are the main uncertainties that shape the digital market opportunities. But, how can we measure trust in companies if we are not aware of the value our personal information has in the digital economy? What is the value that, as headlines, we give to our personal data? Perhaps therein lies the problem of allowing others to have power over our information. To promote the digital market and trust in it, we need to know the value of our information. Becoming aware of the fact and consequences of collecting our data, as well as its monetary value and importance in the digital economy, is the first beneficial step towards the empowerment of our information