A recent report showing that people value their personal data at around £3,000 interested us here at digi.me HQ because we believe the information that makes up you and your life experiences is worth much more than just a number.
The survey of 1,000 people by digital storage company Western Digital found they put an average value of £3, 241 on their personal data.
Men valued it slightly more highly, at £4,174 compared to £3,109 for women and were more willing to sell it, with only 23pc calling it ‘priceless’ against 31pc of the women.
But what if you could do more with your data than just sell it or not? What if you could make it work for you – and even benefit wider society at the same time?
That, in a nutshell, is the digi.me vision – we unlock the power of your personal data, but then leave it up to you how you wield that power.
Imagine you had all of your data, covering specific fields such as health (not just your GP records but wearables too, such as how much you exercise and how much sleep you get), financials and purchases gathered together in one place that you and you alone could access, unless you granted permission.
You could, of course, just keep it for yourself – browse it, explore it, enjoy it – and gain new insights from having everything about you collected together. Nothing wrong with that.
But you could also choose to do something with it – share it with a company whose products or services you were interested in, for example, in exchange for a personalised offer or discount.
Suddenly, your data is working a lot harder and only in a good way. You get something you want, at a better price or with something extra thrown in, and in return the retailer gets to view 100pc solid and reliable data, which helps them hone and refine their offering and business. Quick and convenient, mutually pleasing and desirable.
Now imagine all your friends and neighbours are doing this as well – suddenly, everyone is benefiting from their data, including businesses and services who suddenly have lots of fully accurate rich data to work with, instead of the slices of fragmented and unreliable data currently gleaned from tracking ads and the like.
If enough people get involved, it could change the future direction of products and services, not to mention the face of public and individual sector innovation, as new avenues become possible and indeed desirable if it can be proved there is a need for them.
Right there, your data could be part of a social revolution, and you’re benefiting at the same time.
So yes, data can have a price – and you’re able to sell it if you wish. But isn’t there so much more value to be had elsewhere if we use or imaginations and apps like digi.me?
*To read more about our mission to unlock personal data and enable the personal data economy, see https://get.digi.me/