My data is mine!

Big Data are the new fuel of modern digital markets

As we often hear, Big Data are the “new fuel” of modern digital markets in our hyper-connected world. Estimates tell that the value of the global EU data economy in 2020 will be between 361 billion and 736 billion Euro (2.3% to 4% of EU GDP)[1].  A major part of these data are produced by each one of us, as consumers. New businesses are flourishing thanks to users generated data.

We consider that this new data economy can offer huge opportunities, also for consumers. A data economy is still an economy, with all the selling-buying, importing-exporting, respectful-fraudlent relationships that are part of all present and past economic systems.

But what is the role of consumers in this developing market? Are they well aware of the fact that companies are using their data and for what purposes? What do they get in return?

Consumers as spectators

Consumers are often not even aware of the fact that companies are using their data and even less for which purposes. They did not give their consent for the collect of their data, or at least no informed consent. With the development of Internet Of Things (IOT), the data will be automatically acquired from devices that we wear, we have at home or in the car.

Consumers trust is however crucial. In the digital age, the fundamental rights of citizens are more and more expressed in the context of “private” virtual spaces that are accessed as consumers. For the first time, the protection and enforcement of consumer rights become the vehicle and guarantee of access to citizens fundamental rights.

Consumers must become actors

This lack of transparency is no longer acceptable. We advocate a full recognition of the consumer's right to benefit from technological innovation in a safe and secure way.  Consumers need to get real value when their data are exploited by companies.

Because: my data is mine!

Some firm guarantees are needed to achieve this goal:

1. First and foremost, it is crucial that the privacy and security of every consumer is respected. The new EU Regulation that will come into force in May 2018 must be adequately implemented by companies and institutions and must be enforced by regulators. Infringements need to be sanctioned and victims compensated. 

2. Secondly, consumers must have full control over their data. Meaning:

• Products and services available to consumers, such as smartphones and mobile apps, must be made in such a way that they ensure a high level of privacy.
• Consumers’ online activities can only be monitored if they have expressly given their permission.
• Consumers must know what their data are used for, they have freely given their consent to this, and can easily revoke this consent at any time.
• They have easy access to all the data a company collected about them.
• They can easily correct those data.
• They can get their data back and be able to use them in the way they want. This should help to avoid e.g. locks-in and give the possibility to switch from different service providers in an easy way guaranteeing interoperability.
  

 
3. Last, but not least, consumers should get a fair part of the value created by the companies using their data. Consumers are not anymore only the weak and passive party of the market who just need to be protected from infringements or abuses, they are among the major drivers of innovation and consistently contribute to maintain lively the digital ecosystem. Thus it’s no more than fair if we claim in return to fully benefit from a more sustainable and responsible data economy, focused on delivering innovative and personalized services that better fit real consumers’ needs, contributing to enhance their lives and the society as a whole, provided of course that consumers’ fundamental rights and freedoms are never undermined.

All the above can best be obtained by overcoming the often sterile and fruitless opposition between the freedom of enterprise and the fundamental rights of citizens/consumers. All stakeholders should join their forces to build together the conditions for a stable social economic development on the basis of a new digital value chain, embracing the future with renewed optimism.