The business behind the data


Negocio detrás de los datos

In recent times, there has been an intense debate about the relevance of the use of personal data. Usually, people’s data are highly coveted by companies willing to pay a high value for them. It is a legal business, based on the terms of use that the person downloading applications or surfing the web accepts, and governments usually have laws on personal data protection that prevent its illegal commercialization.

What are some of the uses of our data?

Typically, the large amount of data we provide (especially on social networks) is used for advertising purposes, achieving ever greater precision by reaching the right person at the right place at the right time.

However, big data has also enabled other types of data use and initiatives for other purposes, such as the fight against the covid-19 pandemic. Geolocation data or contacts with other people allow the design of systems aimed at containing the pandemic, making it possible to isolate affected individuals and their contacts, and to issue alerts in those places with the highest probability of contagion.

Another new use of data, for example, in the financial system, is to use algorithms to classify the expenses of a bank account into different categories, making it easier for customers to easily and quickly visualize their average spending on food, services, clothing, supermarkets, etc. This in turn allows the system to detect unusual expenses and alert customers so that they can verify if it is an error.

As can be seen, the uses of this data can be very varied, which is why it is essential for society to become increasingly aware of the personal data it provides and the possibility of large companies making use of it. Every time we browse a web page, through the so-called cookies, we are sharing a lot of information (from where we are accessing, on what days and at what times, what information we are looking for and is of interest to us, what purchases we actually make, how we pay, and much more). 

In short, the reality of personal data traffic resides fundamentally in each one of us as users, who decide what kind of information we share and with whom. In order to know this clearly, it is necessary to be informed about the terms of use, which indicate the authorization about the handling of data.

If you are interested in this topic, in the previous blog post, we told you some useful tips to protect your information!

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The business behind the data