Welcome!

FinTech Journal Authors: Yeshim Deniz, Liz McMillan, Pat Romanski, Elizabeth White, Flint Brenton

Related Topics: FinTech Journal, Open Source Cloud, Recurring Revenue, Artificial Intelligence, @CloudExpo, Cloud Security, @DXWorldExpo, @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
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution. In his session at @ThingsExpo, Akvelon expert and IoT industry leader Sergey Grebnov provided an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
In his session at Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, 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 maximize project result...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessio...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
DXWorldEXPO LLC announced today that the upcoming DXWorldEXPO | CloudEXPO New York event will feature 10 companies from Poland to participate at the "Poland Digital Transformation Pavilion" on November 12-13, 2018.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.