Welcome!

FinTech Journal Authors: Yeshim Deniz, Pat Romanski, Rajeev Kozhikkattuthodi, Elizabeth White, Jason Bloomberg

Related Topics: FinTech Journal, Open Source Cloud, Recurring Revenue, Artificial Intelligence, @CloudExpo, Cloud Security, @BigDataExpo, @ThingsExpo

FinTech Journal: Article

IoT and #BigData – Who Owns All the Data? | @ThingsExpo #IoT #M2M #API

How many websites have you created accounts on?

Internet of Things and Big Data - Who Owns All the Data?

We've been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that's just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we're not even aware of the information we are providing. It could be very personal information (think of the security questions you provide answers to for protecting your information on these systems), to information about your behavior, your interests (websites visited, internet search topics). While possibly concerning from a privacy perspective, you had some level of control. For the backend systems involved, the volume and variety of the data was a manageable situation. The tradeoff between privacy and convenience is something we, for the most part, found acceptable.

Not just about personal data
This is not a situation unique to consumers and personal data - businesses do the same thing. In order to conduct business with each other, businesses must share key information about themselves and their operations with their partners, such as key contacts within the organization, purchasing trends, locations, and shipping patterns of products. All the information that is needed by the business partners, yet is also an asset subject to privacy concerns within the business. As with our personal data, it is always a delicate balancing act of tradeoffs in order to be able to conduct business.

Then came mobile and Internet of Things
The game changed when the mobile revolution started, and continued with the explosion of the Internet of Things. Your mobile apps, along with all your ‘smart' devices that you wear (e.g., fitbit), are in your home (e.g., smart TVs, nest, smart appliances), or even your car, are sending massive amounts of disparate information out into the cloud. While the data packets for most devices tend to be small, there are a lot of devices. Gartner estimates that there will be over 20 billion ‘things' by 2020. To the sheer volume of devices, now add in the velocity of the data. These devices can be streaming a large variety information constantly. Your GPS location, house temperature, car speed, even your blood pressure. Sometimes we are aware, many times not.

The business-to-business side is not without impacts as well. RFID chips in inventory that is shipping between and through partner, smart manufacturing facilities, like smart homes, are providing huge volumes of information about their operation without even potentially realizing it.

Privacy & ownership vs the world
This is not a ‘the sky is falling' or the ‘world has my data' rant. I raise it to point out the impact of our data usage and consumption is in today's world of the ‘Internet of Everything.' I am reminded of a presentation I attended at a Gartner Symposium entitled ‘Privacy vs the World' presented by Heidi Wachs, a research director at Gartner. She raised the point that "the lines between social culture, corporate culture and regulation are blurred when it comes to privacy'." She asked the attendees, "How can organizations truly define privacy so that it is appropriately preserved?" The discussion revolved around the constant struggle and balancing of the business needs, convenience, and addressing privacy and security concerns of the users (or business partners) of the system. As many of you know, one of my favorite sayings is ‘Everything is a tradeoff.' The phrase was never truer than in our new world of Big Data and the Internet of Things. New uses and the data that is being collected appear at breakneck speeds, sometimes before we even understand the implications and tradeoffs involved.

Information is an asset
An added twist to this conundrum was raised in a recent article in The Atlantic. In the piece, the author raises the additional question, what happens to that data if the company storing it goes bust? Your personal information could be considered an asset of value that can be sold off, as what happened with Radio Shack.

While not discussed in the article, it raised another thought for me from a business-to-business perspective. What if my business partner is acquired by one of my competitors? Would it provide them insights into my operations, and help them possibly derive a competitive advantage with that information?

If data passes through your system, you have a responsibility
As technologists, we have a responsibility to help the business understand the tradeoffs and risks involved in this rapidly changing environment. We as humans, by nature, love to hoard things, and data is no different. We are accumulating large amounts of data as it passes through our systems. If it is in or passes through your system, you have a responsibility for ensuring the rules are followed. What level of privacy is needed/required/desired is fully dependent on the data itself. Not all data is created equal; some requires more privacy than others. Privacy and the security mechanisms needed to implement that privacy is not a once and done kind of thing; it's constantly evolving and changing. In the Gartner presentation I mentioned, Heidi asked a challenging question: "When a law enforcement agency comes asking for all that data you have been hoarding, what will you do?" It is better to be proactive and plan ahead than reactive when the situation occurs.

In this fast-paced, rapidly changing technology environment we live in today, we are providing and collecting huge amounts of data from an ever-increasing number of potential sources, whether they be mobiles, wearables, our vehicles, or any other of a myriad of sources we haven't even thought about. This data is traveling through the nebulous cloud environment we all love to talk about, and traveling through the ether to its final destination. Our challenge as technologists is to understand the implications, challenges, and tradeoffs involved in that world, and be able to articulate those to the business so that the proper balance between business needs, data ownership and privacy, convenience, et al, can be achieved.

It's a difficult and delicate balance. There is no one right answer, no one size fits all as to which tradeoffs are acceptable. Ultimately, that is a business decision, based on the goals and needs of the organization, and could change over time. It's walking a tightrope over a shark infested tank of water. Our job as technologists is to try and help the business understand the risks and tradeoffs so they can traverse that tightrope and get to the other side safely.

This post is sponsored by SAS and Big Data Forum.

More Stories By Ed Featherston

Ed Featherston is VP, Principal Architect at Cloud Technology Partners. He brings 35 years of technology experience in designing, building, and implementing large complex solutions. He has significant expertise in systems integration, Internet/intranet, and cloud technologies. He has delivered projects in various industries, including financial services, pharmacy, government and retail.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


@ThingsExpo Stories
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists looked at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deliver...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 21st Int\ernational Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their ...
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to ma...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...