Data = Value

Smart thoughts from an inspirational lady:

Some day, on the corporate balance sheet, there will be an entry which reads, "Information"; for in most cases, the information is more valuable than the hardware which processes it. Rear Admiral Grace Murray Hopper

What a wonderful Privacy geek she was.

Comments:

Amiral Hopper received many awards and honors for her accomplishments. She received the first computer sciences "man-of-the-year" award from the Data Processing Management Association in 1969. jt

Posted by John Taylor on May 09, 2008 at 09:31 AM PDT #

A wonderful comment from a very accomplished woman. This is my perspective: Share prices on Wall Street are based on dollars earned and occasionally sense. But how does a business entity value on information?
Example: Suppose I sell hundreds of crepes per week. To establish my bank account I hand over all my identity information, such as social security number. My social security number is very valuable to me because it is used to uniquely identity me.
On the other hand the bank places no value on my social security number, address and phone number in their database. They protect my information so that it cannot be stolen, because they appreciate the value I place on that information and consequently value me as a customer.
If I grow my business and sell thousands of (frozen - yuck[!] ) crepes per year through eBay, eBay will protect my information only because they value my transactions. My particular identity information is valueless to eBay.
On their balance sheet they cannot have a line item under assets "10 000 000 social security numbers valued at $10 000 000 000" but in they can list " $ 10 000 000 000 customer transaction revenue" on their income statement.
The data is only valuable to the owner, but the revenue from that owner is sought by the business entity, therefore it behooves the business entity to protect and ensure the privacy of the customer's data.

Posted by The Crepe Chef on May 15, 2008 at 04:37 PM PDT #

You should have gone with your geeky friend to see Grace Hopper in Hitchcock Hall in 1988!

Posted by Suzanna on May 23, 2008 at 05:04 AM PDT #

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