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 go .
It helps us understand things such as risk of disease, who might want a product or service, or who could develop a gambling problem. It can also shape what medicine we get, the ads we see, and how large 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.
In this first chapter, you’ll learn about all of this, and more. You’ll develop an understanding of how data is not only changing and influencing our personal lives and daily routines, but also transforming 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 how is it used ?
In this first chapter, we look at what data is, how it works, what it’s used for, and how it’s changing society. You will learn about the lifecycle of data from when it arises in a situation or activity, to when it is used for action. You will also see what actually happens to your data that comes from any active or passive interaction you have with digital devices—and how you can protect your privacy.