You say that Mydex CIC will help individuals regain control over their personal data, but individuals have already lost control. There is no way to get it back.

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Mon, 09/02/2015 - 16:24

ladybird73

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Short Answer

We disagree, for a number of reasons:

  • even with the most sophisticated and comprehensive tracking, surveillance and data collecting technologies there are two things organisations collecting personal data can never do: predict what the individual is going to do next; and understand why the individual did what they did. Individuals could provide organisations with this information if they saw good reason to. Mydex CIC makes this possible. But to gain access to such information, organisations have to pay a price: they have to accept the individual’s terms and conditions for data sharing
  • whatever data organisations collect about individuals, it will always remain partial and incomplete. Take a simple example. While Amazon knows the books an individual buys from Amazon, it does not know what books that individual buys from other booksellers, so it can never get a fully-rounded picture of that individual’s book buying preferences or habits. Using a Personal Data Store like Mydex, individuals will naturally collect this sort of information. They could share it with Amazon if Amazon accepts their terms for sharing the information
  • when an organisation collects data about you and stores it in a database, that data ‘freezes’: it’s a historical record. It does not automatically update itself every time the individual’s life changes. Which means it quickly becomes out-of-date and inaccurate. Because individuals will use their Personal Data Stores to manage their own lives better, they have a vested interest in keeping the data they use up-to-date and accurate
  • the more organisations try to gather data about individuals without their knowledge and permission, the more they lose individuals’ trust.

Going forward, we believe most organisations will realise that embracing the new rules of personal data management will help them gain access to much richer, more accurate and more useful customer data at much lower cost.

Mon, 09/02/2015 - 16:25

ladybird73

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