The next wave of innovation is not just better ad-tech, data aggregation and promises of greater transparency.

 

It’s a fundamental re-think of the total value exchange and our data ownership.

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The outcome is still the same–match businesses and customers in a timely and relevant way. The right message at the right time to the right audience. It’s just the method of achieving the outcome that will change. 

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There’s a lot that data companies can learn from businesses that have risen to prominence this decade such as Uber, Airbnb and Coursera. They all leverage the "network effect" to form exciting new user experiences, introduce greater efficiencies and transform how their industries function. Through the network, they connect people that have something with people that want that thing. They don’t care about the actual thing itself. Owning a fleet of cars or a chain of hotels is not scalable, and it’s not where the value is. In fact, it’s a liability. 

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In the world of data aggregation, there are businesses making billions of dollars from harvesting personal data and re-selling it without the knowledge or consent of the data owner. These companies hold thousands of data points on millions of people. Their biggest asset is now becoming their biggest liability. They face risks of hacking, negative consumer sentiment and new regulation. What’s worse is most people don’t know who these companies are. We, as consumers, have no direct relationships with them.

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In an information age, this business model is wide-open for disruption. Our Data is ours! it represents the deep journeys and experiences we have all collected over time. It's our own individual, industrial oil mine.  As we learn and come together in groups we will start believing in the power of "Audience is our New Currency"  and this will become the new mantra for data companies that leverage the power of the network will dis-intermediate traditional data aggregators. Instead of aggregating data at an organizational level, data will be integrated around the individual, audience and household. We will just authorize permission-based access to businesses when our need arises. Businesses benefit too. They get access to richer deterministic data in a timely way that avoids major probabilistic analysis compliance issues.

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The perfect storm of citizen sentiment, new regulation and networked business models will change the way businesses view Our Data. We must take control of our Self-Sovereign Identity.

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