Personal Data Value

Staying safe and secure

By Anca Gagiuc on Sep 20, 2012 in Technology | 2 Comments

Ever wondered what happens after you close your browser and end yet another session online? Have you ever felt like you’re being watched – and maybe even gossiped about – by those persistent tracking cookie monsters as you blaze a trail via your browser? If you ask yourself why anyone would care about your interests and what happens to the zillions of pieces of search data generated daily, the answer is simple: information is power. Our personal data is the most valuable asset class of the 21^st century.

Cookies are not the only way our activities are monitored. Every online action is stored in cyberspace, regardless of the device used, be it PC, laptop, or cellphone. Every transaction is a little piece of puzzle that will generate our consumer profile. Being smart about protecting this data is our new personal challenge – and a far more complicated task than stashing physical valuables and personal paperwork in a safe deposit box.

Companies have already started the race to cash in. Azigo, Mydex, The DataBanker, and Personal.com are offering a cloud-based hub that allows users to safely store and/or remove their personal digital information from everything from medical records to music and financial reports.

For many users, the biggest complaint about the online environment today is privacy concerns. But we still manage to be pleasantly amazed by search engines that “read our minds,” returning suggestions extremely close to what we’re looking for after typing in just a few letters. (These “miracles” are made possible through browsing history and cache. This data is now available across all devices, so it follows you from phone to laptop to tablet, as long as you’re signed in to your Google or Apple account.)

Another common complaint is the stream of spam that manages to make its way to our in boxes, despite all those filters, but we’re the ones hitting Accept on third-party apps on social networks and online media, as well as approving Agreements and Terms of Use that authorize unwanted missives from “partner” companies.

The list goes on, but if you drill down to reality, we’ve never had privacy. Just like living in a small town where you’re at the discretion of the local shop clerks and barkeeps to not share with the rest how much wine you drink each week, the data trackers have always a greedy hold on our personal details. The difference now is in the level of access to our online information, the aperture to a wider public, and its further use.

For commercial firms, the value of this data set is practically priceless. Many companies want to use this information for good, not evil. With access to the compiled data of its customers, a company can predict their interests and preferences. Imagine if you knew the life plans of all of your multifamily apartment tenants – their work and education schedules, how their relationships were progressing, when they might hope to buy a home or start a family. You’d be able to target your marketing efforts more accurately, and anticipate apartment turnover and rental rate increases in a far more effective way.

As consumers, can we dodge the exposure? Yes, but probably not for long. Nowadays it’s still possible by not navigating the web, not using cellphones, not paying with our cards but only with cash. Unless you want to keep a stack of money under your mattress, it’s hardly a practical way to live in today’s world. But there are a few steps you can take to protect your journeys online:

• Customize the security and privacy settings in your browser to control the amount of personal information you put online and always wipe clean the sites you have visited or searches you have made upon exit.
• Use the cookie control to strike the right balance between convenience and privacy. All major browsers allow you to view, delete, and block all cookies, however, blocking all of them may mean that you’ll have to re-enter your login details when returning to familiar sites. Some functions, like shopping carts, may not work with cookies disabled.
• Install anti-virus and security software and keep it updated. Examine the sender’s email address before opening an email, and don’t click on any links or attachments unless you know who the sender is. Be suspicious of anyone who asks for your bank account or credit card information or asks for your password.
• Social networking websites: use the privacy settings to limit access to your personal information, leave out what could make you vulnerable to identity fraud. Think twice before you post anything – would your (potential) employer/landlord/tenant like to see the post? Use strong passwords to prevent your account from being misused.
• Startpage and Tor Browser Bundle are search engines that claim to not collect nor share any personal information – IP address, browser, computer platform, search words, or phrases. (The latter is used by the Anonymous group.)
• For your iPhone’s privacy try the Onion Browser, an open-source, privacy-enhancing web browser for iOS.

What measures, if any, have you taken to protect your personal data? If you haven’t taken steps to protect it yet, will you do so in the future? How concerned are you about online privacy and the tracking of your sharing and spending?