Writing about micro-business data trends, social media metrics and data use in business decisions.

Posts tagged with ‘facebook value of data’

Data is the new currency and quantifying the value of your Facebook profile

"Data is the new currency" is a saying has been going around a bit - I wrote a little about the idea of data as a currency in an article I put together for TheCommunityManager.com website on using metrics in a community

I think as we grapple with SOPA, Internet Privacy, Do Not Track and Do Track* - the issue of what data is worth and how consumers/people should be compensated is going to continue to come up. 

One idea I had was to ask whether we can quantify the personal data that we put out there on social networks? Is there some formula that we can create that says your Facebook profile is worth $1.25 to a company like Pepsi or Coke?

I think there’s something in that. It would be a difficult project as we know that everyone is different and Person A might have more value to Pepsi than, say, Person B for various reasons. But I definitely think it’s possible.