The promised world of the internet and social media is one where physical barriers are a thing of the past and connection is instant. The current reality holds some of this promise, with faster and better communication than ever before. However, this ease of communication comes with it dark side which we have only recently encountered. In order to power our instant messaging, personalized news feeds, and one-click shopping, we have agreed to rent our personal information, even data that we are unaware of, to companies that are singularly focused on preserving their bottom line at any cost.
Netflix’s latest documentary, “The Great Hack,” covers the Cambridge Analytica scandal, a breach that exposed the information of millions of unwilling Facebook users and exploited them for political gain. The documentary focuses on a specific case, but the lessons it conveys and the picture it paints of our current privacy landscape are chilling, to say the least. Today we are more exposed to the whims of corporations than we have ever been, and they are increasingly willing to cash in on the vast amount of data they have spent years collecting from us.
However, our unfortunate current situation is not entirely bleak. This emerging awareness of the precarious state of our privacy and data security has led to a mass movement seeking to restore balance. Data analytics, especially predictive analytics, are major drivers of our technology future. It provides a major upgrade to our ability to make sense of our world. However, the benefits of these technologies must be mitigated with a real focus on users’ privacy.
Does data analytics induce dystopia?
There is no doubt that data is becoming fast most important commodity In the world. Other than consumer data, every single industry and service generates an enormous amount of data every single day. According to the World Economic ForumOne connected car alone produces 4 terabytes of data Daily, While Facebook itself generates 4 petabytes of data. The World Economic Forum estimates that by 2025, we will produce 463 exabytes From data around the world, every day. In this climate, user data plays a particularly important role.
For companies like Facebook, Amazon, Netflix, and Apple — as well as countless smaller companies — user data is a core aspect of their business model. Improving content algorithms, personalizing ads, and delivering more personalized experiences are all made possible by this data, though that’s only the positive side.
The power of predictive analytics, as evidenced by “The Great Hack,” is that this repository of user data—which includes everything we do online, from search terms to clicks and even the activities of our friends—can be used for other, more nefarious purposes. In the case of Cambridge Analytica, it has been used to drive voters towards the Brexit and Trump campaigns by providing personalized, biased content that reinforces campaign points.
Most importantly, however, are emerging concerns about data security and analytics. With the number of companies that own some or all of our private information, the fact that there have been so few breaches is surprising. However, a single breach – such as Cambridge Analytica – could expose the data of millions of users many times over without realizing it. In this environment, finding alternatives that do not impede analytics but protect users is increasingly challenging, though not impossible.
The future is not entirely bad
The future of data is undeniably troubling, though not necessarily entirely dark. Technologies such as blockchain and decentralized ledgers offer an alternative that provides potential analytics infrastructure that respects data privacy and security. It is clear that the current ecosystem benefits a small group of data holders and users – companies.
The terms and conditions of Facebook, Google, Amazon and others give them almost exclusive access to users’ personal data to use as they see fit, and unless it’s clearly beneficial to them – as in the case of Cambridge Analytica – they’re loath to share their capabilities. With this lack of access to valuable data, researchers, small businesses, and even individuals have limited analytical capabilities. Furthermore, they must trust the security of their data to researchers who are not concerned with their privacy or the security of their data.
Blockchain and DLT alternative support It can provide greater transparency and easy access to data and tools for analysis thanks to its decentralized structure. One of the main complaints of users and advocates regarding big companies’ use of data is Lack of transparency About how data is collected and used and with whom it is shared. Here, decentralized ledgers provide a seemingly ready response. By their very nature, DLT systems make data transparent as any transaction or operation is instantly synchronized across every node in the network. Although reality does not always align with this theory, it does provide greater assurance that users can see how their data is being used.
Additionally, while major corporations are still battered and bruised by data breaches and hacks, blockchain data storage promises to be more secure thanks to its encryption standards and the difficulty of hacking the blockchain itself. While this remains largely theoretical due to the technology’s relative newness and its unproven claims, it could provide researchers with safer and better access to data analysis tools.
Avoid a dystopian future of data
Users are definitely behind in terms of protecting their data from companies. We’ve already given away the keys to the kingdom, so to speak, but it doesn’t have to be a permanent arrangement. The current landscape is undoubtedly dark – our data is in the hands of companies who are all too happy to use it for whatever purpose it might enrich – but it could only get brighter. If new alternatives to existing analytics and big data models prove worthy and effective, we could see a huge shift in access and transparency when it comes to our data and how it is always monetized.