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Big Data Empowers Customers

Digital privacy is dangling on the edge of the cliff as public cynicism has always been high. To battle this, there has been innovation in Big Data: Customer Empowerment. Usage-based insurance (UBI) programs can allow people to trade in their personal data in a transparent market transaction. Companies thus have data owners that are treated based on their data, thereby increase brand satisfaction and reaping larger profits. A survey hinted that half the consumers in U.S., U.K. and Australia are alright to share personal data in exchange for product/service incentives. Drivers of automobiles can now track their driving behavior with sensors that calculate personal driving profiles that are then factored into their auto insurance. Read more at: http://techcrunch.com/2015/06/29/the-latest-big-data-innovation-is-consumer-empowerment/

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