What does the future hold for data? Today, it is everywhere. Our world is filled with it: from the data that we generate ourselves, to the data that is generated by machines. It’s in our pockets, our cars, our homes, and even in our offices. Consequently, there’s an opportunity to monetize this data, not just by the corporate world, but by individuals as well. But it first gets to data literacy, understanding how you can monetize your data, ensure security, and its ethical use. With the data landscape evolving every year, we can only imagine what the future holds. To understand things better, today we have John Thompson with us.
John shares about how data has evolved in the past years to become an actual product that has been monetized, the need for data literacy among individuals, and how we can ensure security and ethical use of data, among others. Tune in to find out more!
You will want to hear this episode if you are interested in:
- [01:10] The future of data
- [02:44] John’s prediction on the data protection landscape
- [03:55] The value of managing and monetizing data
- [05:28] Data have evolved into an actual product
- [09:09] The rise of biometric data
- [11:17] How do we ensure the security and ethical use of our data
- [12:41] Will data citizens continue to take on greater relevance?
- [14:29] Does data product mean selling data to others?
- [18:36] How to get experts to support data literacy strategies
- [20:55] Use of Excel in the data world
- [25:26] Will Python become a future leader for analysis?
- [26:46] The future of data management and data governance
Notable Quotes
- If you are concerned about your data and your privacy and you are interested in monetizing data, then you will have the legal foundation to do so. You will also have the technological and functional capability to get to your data.
- We as individuals, we, as the general populace, need to wake up and be aware of how we can take part in that $3 trillion worth of value generation.
- You can actually not only have payment data that people pay you to use your data, but you can also actually pay other people. So you can incentive or disincentive or motivate or demotivate any organization, by the way you assign a monetary value to the use of your data.
- We're going to have very tight security and an entire security regime, but the ethical use and the policies, you can set that.
- If you're doing something with data and you're fearful that explaining to someone is going to expose something you're doing, then you're probably doing something you shouldn't do.
- We're gonna have these new data unions, data commons, and data brokers. We're going to have new security layers, we're going to have different access, we're going to end more on data governance and data security.
About John Thompon
John is an international technology executive with over 30 years of experience in the business intelligence and advanced analytics fields. Currently, John is responsible for the global AI and rapid data lab team and efforts at CSL Behring. Prior to CSL, John was an executive partner at Gartner and led the advanced analytics business unit at Dell Software Group. Besides this, he is also the best-selling author of two books: How To Win With Intelligence, and Building Analytics Team: Harnessing Analytics and AI for Business Improvement. His third book, The Future of Data is expected to be out later in 2022.
"We're moving into an era where there is a corporate data world. But there's also the individual data world that we, as individuals will be able to manage, monetize and have an active role in."
- John Thompson
Resources mentioned
- Winning With Intelligence
- Building Analytics Team: Harnessing Analytics and AI for Business Improvement
Connect with LightsOnData
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- YouTube: www.youtube.com/c/lightsondata
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- George on Twitter: www.twitter.com/georgefrican
