This paper addresses the dimensions of data as a resource in the 21st century. Data - a term that is no longer unknown in today's age. Rather, they seem to be everywhere, data is collected everywhere in our everyday lives. From the supermarket around the corner to banks to doctor's visits, data is collected everywhere. With the help of new information technology, smartphones, wearables such as watches and other sensors, data collection is being given a whole new reach. Data is collected from the user everywhere and at all times. What is happening around us, where are we going, what time of day are we out and about, who or what are we spending our time with, all this is data that is collected in real time and then analysed. The business with this data is also no longer unknown. Big names like Google, Facebook and Amazon are common. To give a clue to the entire idea: Google is said to have about two trillion users a year. Facebook can boast 2.91 billion users in the third quarter of 2021 and Amazon has 548 million active customer accounts so far this year.
Inhaltsverzeichnis (Table of Contents)
- A. Introduction
- 1. How do you measure the economic value of data?
- Data as a Product
- Cost-based approach
- The value of use
- Market value approach
- B. Calculation of value
- II. Intended use and user
- III. How to collect Data
- IV. What makes personal data so valuable?
- Excursive statement question
- Example: Hanna
- Development of digital advertising market
- C. Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This text aims to explore the economic value of data, specifically focusing on personal data, and its significance in the 21st century. It examines various methods for measuring and calculating data value, considers the intended use and user of data, and explores the factors that contribute to the high value of personal data.
- Economic value of data
- Methods for measuring data value
- Intended use and user of data
- The value of personal data
- The role of data in the digital advertising market
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides an overview of the topic, exploring the economic value of data and its relevance in today's world. The "Calculation of value" section delves into various approaches for measuring the economic value of data, including cost-based, use-based, and market value approaches. The text then moves on to discuss the intended use and user of data, highlighting the importance of understanding the context in which data is utilized. The following chapter focuses on data collection methods, emphasizing the diverse ways in which data can be gathered. Finally, the text explores the factors that make personal data highly valuable, including examples like Facebook and the development of digital advertising.
Schlüsselwörter (Keywords)
Key themes and concepts explored in this text include data value, economic value, data measurement, personal data, data use, data collection, digital advertising, market value, cost-based approach, and use-based approach. The text also emphasizes the importance of understanding the context and intended use of data in determining its economic value.
- Citation du texte
- Anke Wiards (Auteur), 2021, The economic value of data in the 21st century, Munich, GRIN Verlag, https://www.grin.com/document/1167782
