Naveen Jain wants your data. All of it. And he’s already got a big chunk of it.
Ditto for a whole host of other software entrepreneurs whose businesses are based on leveraging Big Data and Analytics to the hilt.
Now before you stop reading this article to attempt erasing your digital footprint, relax. They’re not breaking into any of your accounts, as far as we can tell.
Giving up Privacy for Returns
Jain, for example, the founder of inome, is developing a way to gather, analyze and display your personal, publicly available data to create an information genome that is as unique to you as an individual as your DNA.
He made his intentions known during GigaOm’s Structure conference held in New York City last week where he sat on a panel discussing personalization and privacy in a Big Data World.
“Think about all the information that exists about you that has no common key,” Jain said to the audience. As examples he cited data stemming from newspaper articles, emails, magazines subscriptions, real estate purchases, police records you may have, etc.
What if all those things, from all over the map were assigned to you not as a name but as a person?
The impact would be huge, according to Jain.
And if you check out your inome at its current state, you’ll likely be impressed with what you see even at this early stage of the company’s history.
While the skeptic in us might suspect that Jain plans to sell our data to advertisers, that’s not what he talks about. Instead he asks questions about what it would mean if you could predict that a medication would be therapeutic for you even before you swallowed it. (He suggests that data from clinical studies reveal that many medications have 100% efficacy for some people and only 20% for others.)
Or what if you could follow your child’s digital trail in real time as he walked home from school and who he was walking with?
You’d give up privacy, but you’d gain something of even greater value in return, Jain suggests.
And Jain wasn’t the only panelist on stage who believes this. Ken Chahine, who heads the DNA business at Ancestry.com, sees people give up their most personal, personal data (their DNA) every day to find out more about who they’re related to and about their ethnicity.