Nowadays, people share everything about their lives in social media. On the other hand, they are also constantly fighting for privacy. Indeed, data privacy has been a big issue in many countries around the globe. Recently we saw some data leaks, and new regulations being approved. Plus, some companies are making a lot of money selling users data without its consent. I worked with Big Data in the past, and I believe that data has no value. It supports the development of value, and that's why sharing data is beneficial for us.
That is the reason I believe we should keep sharing our data. Data scientists need data to improve their work. They develop features to make our life better. I'm sure you like when Google knows what you are trying to find online before you finish typing. Another example is Glassdoor, a website which shares info about how much companies are paying for each position and employees opinions about their job. We need to share data to enjoy those benefits.
More than just enjoying it now, data can change the world in the long term. Wearables, for example, are monitoring you all the time. Where do you go, how much do you walk and your heart rate are just a few examples. All this information will be used to figure out if you are getting sick and making you healthier faster, for example. Stanford and Apple signed a partnership to improve Apple Watch capabilities. They want to prevent some heart diseases. Data helps us understand the world, and consequently improving our quality of life.
On the other hand, I strongly believe that privacy should be respected. Sharing data does not mean you are giving up on your privacy. Tech companies do not need to know your name or social security number; they need to know your habits only. Selling personal data is bad. Recently, Facebook made a terrible mistake. I think that because of actions like this, some countries are creating strong regulations for the use of data, such as General Data Protection Regulation (GDPR) in Europe. It has some good points, protecting the users, but it can slow down data development process.
Data privacy must be regulated. However, we need to think deeply about it so that we don't kill the values it can bring. The point is that we need to fight for the good use of our data. Like I said before, data has no value, what you can develop from the data has. Consequently, startups need to think: what value can I create based on the data I have. Trying to think one step ahead is a successful strategy for any industry.