Why is my data valuable?

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#MyDataAndI

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Why is my data valuable?

Have you every asked yourself ... Why is my data valuable?

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Hello! I’m Amy – an avatar with style.

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Let’s chat a bit about the value of your personal data, shall we?

Pick one:

Sure, what can you tell me?

No, thanks. I’d just like an overview of information.

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Data taken from social media and our online purchases are super interesting for companies that want to sell us clothes, cosmetics, holidays and so on.

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It’s becoming increasingly common for companies to offer you something in return for your data.

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Image if you were offered 20% off the trendiest sneakers if you gave an online shop some data. What would you be willing to reveal?

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That’s cool. Here are a few articles that may interest you.

tongue-out-emoji Anything they need for me in order for me to get my hands on those sneakers.

My data is more valuable than that. They won’t get it so easily.

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What do you think the online shop does with your data?

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You’re switched on.

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And what do you think your browser history is worth?

They suggest other products that might interest me.

Nothing, they just need it to deliver my orders.

They sell it to other shops and services.

25 euros

150 euros

1,500 euros

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Yeah, that’s right. But that’s not all.

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To advertisers, one set of data with your address, age, gender and preferences is worth up to 100 euros.

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You’re joking, right?

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They connect your data with formulas. That’s called ‘scoring’. That’s how they build a profile, and how they can even say what you’re going to buy next.

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What do you think of that?

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Yep, exactly.

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They connect your data with formulas. That’s called ‘scoring’. That’s how they build a profile, and how they can even say what you’re going to buy next.

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What do you think of that?

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It’s hard to put an exact number on it.

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It depends on what the company sells.

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Here is how some people estimate the value of their browsing history.

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That’s what about a quarter of the people asked by Deutsche Bank said.

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Here is how some people estimate the value of their browsing history.

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Whoa. Easy, there!

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Your data is worth a lot, but maybe not quite thaaat much.

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Nonetheless, 10% of those asked by Deutsche Bank estimated the value of their data the same as you. wink-emoji

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Here is how some people estimate the value of their browsing history.

That’s a lot. And what do I get out of it?

I thought it would be worth more.

Awful. The bank doesn’t do that with my data, right?

It doesn’t really bother me, but I also want to get something out of it.

I would like to know exactly what they do with my data.

Why is my data worth so much?

Does Deutsche Bank also buy and sell my data?

Why is my data worth so much?

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So far mostly rebates, discounts, free samples. star-eyed-emoji

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But there are new tools out there that help you manage and market your own data.

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These are known as self-sovereign identity systems (SSIS) and they are based on blockchain technology.

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Would you like to know more about blockchains?

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¯\_(ツ)_/¯ That’s just it. It is very difficult to say exactly what your data is worth.

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It depends on the type of data, who wants it, and what they want to use it for.

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Even the German Chancellor Angela Merkel has concerns about this.

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She says: “The pricing of data, especially consumer data, is in my view the central problem of equity for the future.”

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Who should determine the value of your data?

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No, Deutsche Bank does not share your data, unless you have given your express consent.

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You have full control over your data. This is called ‘data sovereignty’.

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Would you like to know more about why it could be attractive to let third parties use some of your data?

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I understand that. More and more people see it that way, too.

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You can find out more here about what others want for their data ...

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What would you want in return for your data?

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Then you feel the same way as most people.

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According to a recent study, 55% of people consider debit and credit card details to be their most sensitive data.

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Would you give app providers access to selected bank details?

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Because companies use data to create personalised offers.

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The more they know about you, the more they can meet your demands.

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No, Deutsche Bank does not share your data with others unless you have given your express consent.

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But if you want, they can share selected data with providers.

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For example, with apps which help you manage your contacts.

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Because companies use data to create personalised offers.

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The more they know about you, the more they can meet your demands.

Sure, that interests me.

asleep-emoji No, this is getting too technical for me.

Only me.

The platforms that trade my data.

The government. It should tax the buying and selling of data and build security infrastructure to better protect my data.

Yes.

No, I want to know how Deutsche Bank protects my data.

Discounts, special conditions and gifts. And more gifts!!!

Full control of my data.

No way. Somebody could hack my data and make a nice life for themself at my expense.

Sure, I trust my bank to keep my data safe.

I want to know exactly which data my bank shares and with whom.

And how do I benefit?

Why would I do that?

And how do I benefit?

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Okay, check out this interview with Anja Bedford. She’s a Blockchain expert at Deutsche Bank.

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Or scroll down to learn more about the value of your data.

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Okay, I understand that. smiley-emoji

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Scroll down to learn more about the value of your data.

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Or chat with Julian or Marcus.

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian

Marcus has taken a closer look at the topics of data protection and security.

Chat with Marcus
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There are researchers and companies who think that’s the future.

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Scroll down to learn more about the value of your data.

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Or chat with Julian or Marcus.

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian

Marcus has taken a closer look at the topics of data protection and security.

Chat with Marcus
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That’s already how it happens today.

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A good indicator of price per data set is the average revenue per user. For Twitter, this is at 3.55 US dollars. For Facebook: 7.24 US dollars. For Google: 45 US dollars.

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There are researchers and politicans who want users to be given more control over their data.

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Scroll down to learn more about the value of your data.

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Or chat with Julian or Marcus.

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian

Marcus has taken a closer look at the topics of data protection and security.

Chat with Marcus
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Really? The government?

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Okay, Chancellor Angela Merkel shares your opinion.

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Platforms are of course against paying taxes on data that they get as a result of their users behaviour.

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You should chat with Marcus.

Marcus has taken a closer look at the topics of data protection and security.

Chat with Marcus
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If you’d like to know how to profit from your bank data, have a chat with Julian.

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian
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Or simply scroll down to learn more about the value of your data.

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You should chat with Marcus.

Marcus has taken a closer look at the topics of data protection and security.

Chat with Marcus
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Or simply scroll down to learn more about the value of your data.

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That is actually what most companies have offered for your data so far.

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Quite a few online platforms promise you savings of up to 300 euros on various services if you disclose your data.

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One German car insurance company offers 30% off or a discount of up to 400 euros in return for sharing specific data.

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Scroll down to learn more about the value of your data. And in all the excitement, make sure to chat with Marcus.

Marcus has taken a closer look at the topics of data protection and security.

Chat with Marcus
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Sure, that’s what most people want.

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43% of smartphone users want an app that tells them which apps are using which of their data.

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At Deutsche Bank, you have full control of your account data. You decide who gets your data and for what purposes.

Chat with Marcus to find out how Deutsche Bank protects your data.

Chat with Marcus

Or chat with Julian. He can tell you why it makes sense to share your data with selected providers.

Chat with Julian
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According to a recent study, nearly half of people say their biggest fear is that their identity could be stolen and misused.

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Scroll down to learn more about the value of your data. Or chat with Marcus or Julian.

Marcus has taken a closer look at the topics of data protection and data security.

Chat with Marcus

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian
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Then you feel the same way as nearly half of the people surveyed in a recent study: they trust their bank most to manage their data safely.

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People have a similar level of trust in their doctor. At the bottom of the list are search engines and social networks.

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You should chat with Marcus.

Marcus has taken a closer look at the topics of data protection and data security.

Chat with Marcus
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Or scroll down to learn more about the value of your data.

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A third of people asked in a recent study said they trust companies and platforms most that clearly explain which data they collect and share, as well as how they protect it.

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You should chat with Marcus or Julian.

Marcus has taken a closer look at the topics of data protection and data security.

Chat with Marcus

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian
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You are careful like 70% of the people asked in a recent study. They generally feel uncomfortable about sharing their data ...

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... or reluctantly share their data because they have no other choice when they want to use an app.

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You should chat with Marcus or Julian.

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian

Marcus has taken a closer look at the topics of data protection and data security.

Chat with Marcus
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Chat with Julian.

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian
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Or scroll down to learn more about the value of your data.

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You are careful like 70% of the people asked in a recent study. They generally feel uncomfortable about sharing their data ...

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... or reluctantly share their data because they have no other choice when they want to use an app.

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You should chat with Marcus or Julian.

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian

Marcus has taken a closer look at the topics of data protection and data security.

Chat with Marcus

Why your data is valuable

“The client will win”

Deutsche Bank’s Head of Blockchain Anja Bedford discusses the transformative power of cryptocurrencies and the role that banks will play.

Video

Is data really the new oil?

Oil has fuelled the economy for 150 years. Data is expected to do the same. Explore the similarities and – even bigger – differences between these two valuable resources.

Start slideshow

Data-driven banking

René W. Keller talks about what kind of expertise is required and why it is important to use data in a very responsible way.

Video

My passion: data analytics

Bronagh Riordan from Deutsche Bank’s data lab “The Hive” in Dublin provides insights into why collaboration is key for delivering data driven insights for the bank’s businesses – and for its clients.

Video

What is data science?

Nil Patel, Head of Data Exploration at Deutsche Bank, explains what data science actually means, the role of data scientists and the challenges they face.

Video

A two-horse race?

Is the United States or China winning the global competition in digital, data-driven technologies like artificial intelligence? And can Europe catch up?

Video

Blockchain untangled

Find out what exactly blockchain is, what it means for corporates around the world and how it might impact the status quo of banking.

Video

What is your browsing history worth?

From “very little” to thousands of euros – the people we asked had vastly different estimates about the value of their Internet browsing history to online retailers. See for yourself.

Video

Why is data the new oil?

They enable innovation, drive the economy and can even change society – that is why data is valuable. Here are some people’s thoughts about the value of data.

Video

Deutsche Bank asked its Instagram followers questions about data.

Whenever we are online, we leave traces of data. Does that bother you?

No 38%

Yes 62%

Using data, protecting data: who do you think can manage this?

We asked 1,000 people in Germany what data they entrust to whom, and what they expect in return. Here are their responses.

Start slideshow


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Still there?

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Want to chat a bit more?

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Here are two friends who would like to talk to you about data-related topics.

Marcus has looked into how Deutsche Bank protects your data.

Chat with Marcus

Julian will tell you why it could make sense to share some of your data with selected providers.

Chat with Julian

About #MyDataAndI

Data is the stuff that dreams are made of. On the basis of data-derived insights, big platform businesses and small start-ups alike seek to make individualised offers to potential customers. Many people are just now beginning to understand the value of their data. They want to maintain control over them and want to know what is being done with their data, by whom and why.

On this website, the avatars Amy, Julian and Marcus invite you to chat with them – about what your data is worth in the “data economy”, about the ways you can profit even from your bank data, and about data protection and data security standards. The three fictional characters assume the perspectives of our diverse customers and pose questions that we all have. Openly, curiously and critically. Talk with them!

Sources:
The information and figures in the chats with Amy, Julian and Marcus and in the slideshows were taken from various external studies and surveys from Deutsche Bank Research. Here is an overview:
  - Deutsche Bank: GBMR Ad hoc Befragungen – Der Umgang mit Daten und Datensicherheit, 2018
  - Domo: Data never sleeps 6.0, 2018
  - MEF (Mobile Ecosystem Forum): Global Consumer Trust Report, 2017
  - SANS Institute: Threat Landscape Survey, 2017, quoted in EHI Retail Technology, 2018 (www.retailtechnology.de)
  - SVRV (Sachverständigenrat für Verbraucherfragen) REPORT June 2017: Der Wert persönlicher Daten – Ist Datenhandel der bessere Datenschutz?

Image credits:
- Characters: Caitlin VanderKlok
- Chats Amy, Julian and Marcus: GIFs: © Caitlin VanderKlok (6); Footage: © Adobe Stock [M] (1), Motion Elements [M] (4), Shutterstock [M] (3); GIF Editor: Anne Grobler
- Slideshow: Is data really the new oil?
Slides 2,7,10,11,16 © iStock [M] | Slides 3,5,6,12,14,15 © Adobe Stock, iStock, Shutterstock
- Slideshow: Five examples of how your data can work for you
Slides 4,9,15 © iStock [M] | Slides 2,3,6,8,10,12,13 © iStock | Slide 15: © Shutterstock
- Slideshow: Using data, protecting data: who do you think can manage this?
Slide 3: © iStock [M] | Slides 8,10 © Shutterstock [M] | Slide 12: © Adobe Stock| Slides 5,7,9,13 © iStock