Our online information is the raw resource of the digital age,yet mining it can be risky for the novel industrial giantsData is the novel oil,” declared Clive Humby, and a mathematician who was the genius behind the Tesco Clubcard. This insight was later elaborated by Michael Palmer of the organization of National Advertisers. “Data is just like crude [oil],” said Palmer. “It’s valuable, but if unrefined it cannot really be used. It has to be changed into gas, and plastic,chemicals, etc to create a valuable entity that drives profitable activity; so must data be broken down, or analysed for it to have value.”The extractive firms of cyberspace provide 'free' services to their users in return for their personal data trails Related: UK spy agencies have collected bulk personal data since 1990s,files present Continue reading...
Source: theguardian.com