{"id":3225,"date":"2012-09-20T05:00:48","date_gmt":"2012-09-20T12:00:48","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=3225"},"modified":"2020-12-24T01:02:28","modified_gmt":"2020-12-24T09:02:28","slug":"personal-data-value","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/personal-data-value\/","title":{"rendered":"Personal Data Value"},"content":{"rendered":"

\"HAL<\/a>Ever wondered what happens after you close your browser and end yet another session online? Have you ever felt like you\u2019re 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 21st<\/sup> century.<\/p>\n

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 \u2013 and a far more complicated task than stashing physical valuables and personal paperwork in a safe deposit box.<\/p>\n

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.<\/p>\n

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 \u201cread our minds,\u201d returning suggestions extremely close to what we\u2019re looking for after typing in just a few letters. (These \u201cmiracles\u201d 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.)<\/p>\n

Another common complaint is the stream of spam that manages to make its way to our in boxes, despite all those filters, but we\u2019re 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 \u201cpartner\u201d companies.<\/p>\n

The list goes on, but if you drill down to reality, we\u2019ve never had privacy. Just like living in a small town where you\u2019re 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.<\/p>\n

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 \u2013 their work and education schedules, how their relationships were progressing, when they might hope to buy a home or start a family. You\u2019d be able to target your marketing efforts more accurately, and anticipate apartment turnover and rental rate increases in a far more effective way.<\/p>\n

As consumers, can we dodge the exposure? Yes, but probably not for long. Nowadays it\u2019s 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\u2019s hardly a practical way to live in today\u2019s world. But there are a few steps you can take to protect your journeys online:<\/p>\n