Analysis by Steven McKie.
Big Data. It’s a popular buzzword that you’ve seen all over the Net the past few years. It’s a very serious billion-dollar industry now — with frontrunners from all different niche avenues of data collection and analytics. With the number of unique data sources available to these data-focused companies, the possibilities for analytics and selling that service to others seems exponential. And, with the rise of worldwide ledger-based systems like that of Bitcoin and other blockchain-based technologies, the lines are blurring between what’s kosher in extrapolating data from the public domain and what isn’t.
There are plenty of reasons to gather large amounts of information, especially in realtime. The ability to identify trends, track data from its source to its endpoint, and making inferred correlations between data points is highly sought after – especially the storing of that data for future analyses and historics, primarily in the business/financial world.
But, what about the data on the most private things we do in our everyday lives? For instance, buying things online and in stores, filling prescriptions, sending money to friends. Surely there exist financial institutions and businesses that monitor that information for security/reporting