No one would dispute that we are in a data-driven economy, but many of the metaphors used to describe it miss the mark in describing its true value.
In this episode, Salomè Viljoen, a research fellow with the New York University School of Law and the Cornell tech Digital Life Initiative discusses the nature of data and what that means for individuals, businesses, and governments.
While data is often thought of as an ethereal collection of bits and bytes or as a resource like “the new oil,” it is more complicated than that. Data are relationships between people, companies, and governments. Information is collected, aggregated, and analyzed and that becomes data when it is used to facilitate some kind of relationship between people.
Viljoen talks about why companies need to rethink data and how they use it in terms of the relationships they have with their customers and business partners. She also discusses the difference in value between individual and aggregated data. Finally, she covers what kind of regulation might be necessary and how it could develop.
The questions of data and privacy regulation likely will be on the federal and state agendas in 2021. If you want to be part of the policy discussion, then go to www.ipa.org to learn more about the benefits of membership in the association.