Is personal data the new oil?


Personal data has fuelled the growth of some of today’s leading companies. Risks and ethical dilemmas are increasing, threatening to derail this trend. Paul Bryant reports. Clive Humby, architect of Tesco’s Clubcard and chief data scientist at Starcount, a consumer insights consultancy, first coined the phrase ‘data is the new oil’ in 2006. He said: “It’s valuable, but if unrefined it cannot really be used … data must be broken down, analysed for it to have value.” Some, and in particular technology giants such as Amazon, Google and Facebook, have mastered this data refining process and created enormous value. (See…

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Paul Bryant is from the CISI. The CISI believes professionalism is the blend of three elements: Knowledge - gaining the initial competence to do your job through professional qualifications, developed by practitioners for practitioners Skills - continuing Professional Development (CPD) and ongoing learning which enables you to maintain competence through a professional body membership Behaviour - upholding the highest standards of integrity by signing up to a professional body's code of conduct. We believe a professional is someone who has a combination of knowledge and skills, and acts with integrity. Our purpose, as a professional body, is to provide and encourage the attributes necessary to be a professional.

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