There is no single numerical answer to the value of an individual's data. The Organisation for Economic Co-operation and Development (OECD) indicates that the value of data depends largely on how it is created, shared, used, and managed. Data has also become a key input in the production of many goods and services.
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The time a user spends on a particular service.
Products that he is looking for or adding to his shopping cart.
The economic value of this data does not necessarily lie in each individual piece of information, but rather in the ability to collect large quantities of it, analyze it, and extract patterns that help companies to:
Making investment and marketing decisions.
Improving products and services.
Understanding and predicting customer behavior.
Targeted advertising.
The OECD explains that data has become an essential input for production, and that its value is not determined solely by its size, but is affected by the context in which it is used and by the governance rules that determine how it is created, shared, and used.
Herein lies one of the fundamental characteristics of the data economy: data is not a traditional commodity with a uniform price that can be applied to every record or piece of information.
Information may have limited value on its own, but it becomes more useful when linked to other data or used within an analytical or business model.
The value of data depends largely on how it is created, shared, used, and managed (Getty).
What is the value of an individual's data?
There is currently no set price for a single user's data, and it cannot be said, for example, that someone's data is worth a specific amount of dollars.
This is because the value of data changes according to its type, accuracy, recency, and purpose, as well as the possibility of reusing it for multiple purposes.
This is why the OECD talks about the multiplicity of ways to evaluate data and the difficulty of adopting a single measure of its economic value.
Most importantly from an economic standpoint, the value of the data may not appear on a bill paid by the user.
When someone uses a search engine, social media platform, or digital service for free, the data generated from their use may be part of the input that helps a company develop the service, improve advertising targeting, or analyze customer behavior.
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