Matt Hogan: Why A Data-Empowered Consumer Is A Trusting Customer [PSFK 2014]
In an environment where the consumer is in control of their data, their relationship with business will be far less antagonistic.
In anticipation of his presentation at the PSFK CONFERENCE 2014 we spoke with Matt Hogan, Co-Founder of Datacoup and Co-Organizer of the Personal Data NYC Meetup. Matt will join us April 11th for a panel on the intersection of the web, data and privacy, so to prepare we asked him about why he built a marketplace that pays people for their data.
How have we gotten to a point where personal data can now be considered an asset class?
In large part, there have been 3 key drivers that have gotten us to this point; 1) Technology – The ubiquity of smartphones and other connected devices has opened the floodgates to data creation. 2) The Ad-Stack – Very quickly, marketers and advertisers realized that attention + data meant very granular targeting ability. They've put in the pipes of an infrastructure that is set up to digest mass quantities of data, and deliver ads to individuals with the highest potential for making a sale or converting. 3) Social Media – The rise of social media has added exponentially to the amount of data available. It's inning #1 as far as understanding the value of social data, but there is no doubt about its ascension as a major contributor to the overall data pool.