tag:blogger.com,1999:blog-30546737327504321742024-03-05T17:17:48.712-08:00Big Data EconomicsBig Data Economics asks the unasked question of: who owns the data, the rights on the data, and how are these rights enforced or enforceable? What price could be reasonably allocated to using data rights? How could platform recognise and remunerate data owners?Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-3054673732750432174.post-2300789659871733872016-10-17T01:32:00.000-07:002016-10-17T01:32:29.224-07:00Data INPUT: Collect or Buy ?<div style="border: none; padding: 0cm 0cm 4pt;">
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<span style="font-size: x-large;">Data INPUT:</span></h2>
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<span style="font-size: x-large;">Collect or Buy ?</span></h2>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh41b_5aYDuGmxiAPjUaHYOUhlh0xX7Qpe_rjpLmhnwViUYyffUrG7NETufvlyF3FJ6eR3AWlUMh0InL1UOem5MIFZEXYmv-K6Tu-cKzL-UD3JhDOtcUUo_OXnt9uc5UF1VoyxrGYPNJy8m/s1600/DSC_4990.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh41b_5aYDuGmxiAPjUaHYOUhlh0xX7Qpe_rjpLmhnwViUYyffUrG7NETufvlyF3FJ6eR3AWlUMh0InL1UOem5MIFZEXYmv-K6Tu-cKzL-UD3JhDOtcUUo_OXnt9uc5UF1VoyxrGYPNJy8m/s320/DSC_4990.JPG" width="320" /></a></div>
<o:p></o:p><br /></div>
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<h1>
DATA INPUT: is the business worth it?<o:p></o:p></h1>
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When decision is needed for a data driven project to go ahead, a business plan is made with:<o:p></o:p></div>
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-expected revenues from all services using the data input at stake<o:p></o:p></div>
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-complete playout of anticipated business launch and uptake, with scenarios, which determine the maximum acceptable price one would pay for the data input, either as:<br />
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<strong>-<em>The cost of collecting the target data set<o:p></o:p></em></strong></div>
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Specific sensor and infrastructure needed</div>
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<li><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72pt; text-indent: -18pt;">
Services consumed (network, installation, site visits)</div>
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<strong style="text-indent: -18pt;">-<em>Alternatively, the price paid to a third party collecting or having collected the target data set</em></strong><br />
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Act now or wait?<o:p></o:p></h1>
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If you are in no hurry, Moore’s Law which drives the evolution of capacity/price in the digital domain, will reduce significantly over time the digital electronic/Information Technology/Network costs of getting the input data. In the long term, this cost decreases exponentially, whereas other costs involved in this, which are non-digital, brick-and-mortar, real-world dependent, may not decrease in the same way.<o:p></o:p></div>
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Competing firms<o:p></o:p></h1>
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In the heat of competition, or with the pressure of needs, one may not have the time to wait for the cost of data input to decrease as above. Furthermore, competitors may not want to share critical data leading to competitive advantage in their view. I saw with my eyes the competing programmes of French Television not wanting to share the image capture and satellite uplink during the Euro92 event in Norway, leading to duplicated infrastructure and services operated for them by the leading French network operator.<o:p></o:p></div>
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In some cases, sharing is not allowed: Competition lawyers advise firms on Anti-trust rules for business touching the territory of the USA in any way, and EU Competition rules, or any other depending on the region where the distributed business takes place.<o:p></o:p></div>
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Sharing data<o:p></o:p></h1>
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If data can be shared, and organisations are willing to share the same input data sets, economic agents in the data value chain participate to a <span class="MsoIntenseEmphasis">data market place</span>.<o:p></o:p></div>
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This can take in particular two forms:<o:p></o:p></div>
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-Open Data: where one collector, collects data sets on behalf of all, and grants access for free, however possibly with some contractual conditions for the allowed domain and scope of use.<o:p></o:p></div>
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-Commercial Data: a license is granted to data users by the data collector, with a fee, and contractual conditions of use.<o:p></o:p></div>
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<span style="font-size: large;"><b> Further reading:</b></span><o:p></o:p></div>
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-An overall description of where to find <a href="http://www.amazon.co.uk/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2/" target="_blank">existing price tags for data</a>, and the <a href="http://www.amazon.co.uk/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2/" target="_blank">organisation of market places where some data categories are already being traded</a></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0txBELCuQYna07CJYTEQO7sVyNzeSAQQGzpQmIQWxMndf_S7ookPqdvEJKNTuusIDx1NCq3Tx-hiU6dwID6ki1O1XdUQWtvA2rk0pP0JNCbmyi_kN1PXvP06D08e81fmPvGUJaCbA0cQ9/s1600/Big+Data+Economics-book-cover2014-11-25.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img alt="http://www.amazon.co.uk/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2/" border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0txBELCuQYna07CJYTEQO7sVyNzeSAQQGzpQmIQWxMndf_S7ookPqdvEJKNTuusIDx1NCq3Tx-hiU6dwID6ki1O1XdUQWtvA2rk0pP0JNCbmyi_kN1PXvP06D08e81fmPvGUJaCbA0cQ9/s320/Big+Data+Economics-book-cover2014-11-25.jpg" title="" width="221" /></a></td></tr>
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Several detailed models, withe <a href="http://www.amazon.co.uk/Microeconomics-big-data-Commodities-Society-ebook/dp/B014N7I4SU/" target="_blank">roles descriptions and equations</a>, can be found here<br />
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Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-76903191921266264742015-08-29T17:15:00.000-07:002015-08-29T18:35:23.596-07:00Microeconomics for big data: THE BOOK!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1-FiKbxbFwGEtC0SLSdUUyZyNWDQvd01lwE6r0rWdnXf5yoT3CDvBmP5ark5JUkm2a8veu7luz8sZDQY5pc8Ygfkiqu4JFHI9bZbumxbYQ9KG5Q3NOFUJhyphenhyphen8jURz1kAMtIC_1MFqkHLgs/s1600/microeconomics+of+data+-cover2015-05-31.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1-FiKbxbFwGEtC0SLSdUUyZyNWDQvd01lwE6r0rWdnXf5yoT3CDvBmP5ark5JUkm2a8veu7luz8sZDQY5pc8Ygfkiqu4JFHI9bZbumxbYQ9KG5Q3NOFUJhyphenhyphen8jURz1kAMtIC_1MFqkHLgs/s640/microeconomics+of+data+-cover2015-05-31.jpg" width="441" /></a></div>
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<div style="line-height: 150%; margin-bottom: .0001pt; margin: 0cm;">
I have just uploaded my latest book on the Publisher's platform.</div>
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It is available soon from <a href="http://www.amazon.com/Microeconomics-big-data-Commodities-Society-ebook/dp/B014N7I4SU/" target="_blank">Amazon/Kindle Editions.</a><br />
<br /></div>
<div style="line-height: 150%; margin-bottom: .0001pt; margin: 0cm;">
This <a href="http://www.amazon.com/Microeconomics-big-data-Commodities-Society-ebook/dp/B014N7I4SU/" target="_blank">book</a> addresses with some equations, and the needed ecosystems/value chain description the microeconomics of data in the context of big data. Roles and relations in the data ecosystem, as well as business models for data transactions are presented, and discussed.</div>
<div style="line-height: 150%; margin-bottom: .0001pt; margin: 0cm;">
The book has been kept short, to allow for easier reading, and for everyone to form a sound opinion on how they want to proceed with the economic aspects of the data they own, use, or could sell.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7zHANyA3XeQd6JNrIdVGZr6e2jpvwYe9ldFzqISuRGUsgjxGNJpJmV-ph8o0Q5coe5-8IklRpBaRkZdN7RfKqWWQkGgrreYZrl06BGqdP9jS9ODa1V7XYTaDtmqhHQNiQgwJbKcIbNUsZ/s1600/RDF02.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="199" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7zHANyA3XeQd6JNrIdVGZr6e2jpvwYe9ldFzqISuRGUsgjxGNJpJmV-ph8o0Q5coe5-8IklRpBaRkZdN7RfKqWWQkGgrreYZrl06BGqdP9jS9ODa1V7XYTaDtmqhHQNiQgwJbKcIbNUsZ/s200/RDF02.jpg" width="200" /></a></div>
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Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com1tag:blogger.com,1999:blog-3054673732750432174.post-50518311680968340542015-04-16T13:11:00.000-07:002015-04-16T13:11:40.197-07:00Big Data Economics for Transport<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRAbodZ93JmCr7E2NKMEXMX7Zl-QAqdbMZrQ11tizExraBUPl53vMZFy3NqL7K_oR9sY42utZOzmFh47vIV9FcKkG_mj7lKJz3-K0K2Z7PMuo55MRAjjFZGw_xlIpHWkad-HNmUwFofLHg/s1600/The+Economics+of+Data+in+Transport.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRAbodZ93JmCr7E2NKMEXMX7Zl-QAqdbMZrQ11tizExraBUPl53vMZFy3NqL7K_oR9sY42utZOzmFh47vIV9FcKkG_mj7lKJz3-K0K2Z7PMuo55MRAjjFZGw_xlIpHWkad-HNmUwFofLHg/s1600/The+Economics+of+Data+in+Transport.jpg" height="300" width="400" /></a></div>
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<b><span style="font-size: x-large;"><br /></span></b></div>
<div style="text-align: center;">
<b><span style="font-size: x-large;">Data and Transport?</span></b></div>
<br />
It all starts with maps, and continues with time tables of transport services (multi-modal...).<br />
In other terms, geo-localised data, and time stamped data, can give raise to location and context dependent services, which are very valuable to users experiencing constraints:<br />
<br />
<ul>
<li>being a passenger, you are bound to a train carriage, bus, aircraft</li>
<li>having to go from A to B, and reach B before time tB</li>
<li>constrained by a budget, not being able to spend more than b</li>
<li>well, being tired and hungry...</li>
</ul>
<br />
There is definitely a lot of potential in data for/with transport:<br />
-data supporting a smoother transport experience<br />
-data generated with/in transport.<br />
<br />
This leads back to the economics of data, framed here in the particular context of transport where value may become more easily salient to suppliers of service of/in transport, and users of transport who become consumers of service in transport.<br />
<br />
The expected output data of a transport big data system may include:<br />
-for the Traveller, Quality of Experience and Safety<br />
-for the Transport Operator<br />
<br />
<ul>
<li>Safety</li>
<li>Volume, cost, efficiency targets, in particular MTBF (Mean Time Between Failure), avoidance of delay due to “signal failure” = poor preventive maintenance</li>
</ul>
<br />
The expected usable input of a big data for transport system includes, for a better Operation:<br />
-Traveler data<br />
(Demand side)<br />
-Operator(s) data<br />
(Supply-side, including trade unions intentions to strike)<br />
<br />
<div>
<br /></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-20550807938666424672015-03-25T14:54:00.001-07:002015-03-25T15:00:18.550-07:00<h2 style="text-align: center;">
<span style="font-size: x-large;">
The Economics of Data in IoT?</span></h2>
<h3>
<i>Starting with very different cases:</i></h3>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgm4MnVvchkdvAQhjhrj7ZAuDIjkMrwXD1SqsQ0L1aT3qpIkgebn-T9YtFL155pnoOgFrqI05NGhlpt1cS3rycxroDLdI482T83dKg3NJvyqp-w4YYBfm6I2Jaj8Y8BElcCnmJOWIHT8p8R/s1600/The+Economics+of+Data+in+IoT.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgm4MnVvchkdvAQhjhrj7ZAuDIjkMrwXD1SqsQ0L1aT3qpIkgebn-T9YtFL155pnoOgFrqI05NGhlpt1cS3rycxroDLdI482T83dKg3NJvyqp-w4YYBfm6I2Jaj8Y8BElcCnmJOWIHT8p8R/s1600/The+Economics+of+Data+in+IoT.jpg" height="480" width="640" /></a></div>
<br />
<h3>
<i>and developing the approach towards a Data Market Place</i></h3>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjilRRHVGo71jhUR-5lQgfiaoeGA4GQWH1ZGtEd_0eo-913CFqeFOkZ_r8iXIcaBC_1m4os5aCLyplXHFndZQ74-gHMYA5PoQ4wLiPN2UI0TGVdt3e4dGdPLQ2mbcMMknT0SJk5jNqqABaE/s1600/The+Economics+of+Data+in+IoT-market+places.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjilRRHVGo71jhUR-5lQgfiaoeGA4GQWH1ZGtEd_0eo-913CFqeFOkZ_r8iXIcaBC_1m4os5aCLyplXHFndZQ74-gHMYA5PoQ4wLiPN2UI0TGVdt3e4dGdPLQ2mbcMMknT0SJk5jNqqABaE/s1600/The+Economics+of+Data+in+IoT-market+places.jpg" height="480" width="640" /></a></div>
<br />
<a href="http://www.amazon.com/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2" target="_blank">Big Data Economics: the book</a><br />
<br />Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-24958348330314823032015-03-20T13:40:00.002-07:002015-03-20T13:40:39.758-07:00<h1 align="center" style="text-align: center;">
Advanced Data Structures:<o:p></o:p></h1>
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representations & methods,<o:p></o:p></h1>
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and their contribution to big data
economics.<o:p></o:p></h1>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiclp1r9EA8QOHTbuDxFGvmis5d_CUiQLn0__B6tzOvPgXki6lU9M9IVhzs_WW3XpoK6USsdZ6mzsVQMCSsDfH_Eg6TUwJj2cl7-1hlMsm04u-4TKcl1ZW62R5d8ULrdFK2uplwN5E927z6/s1600/DSC_0012.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiclp1r9EA8QOHTbuDxFGvmis5d_CUiQLn0__B6tzOvPgXki6lU9M9IVhzs_WW3XpoK6USsdZ6mzsVQMCSsDfH_Eg6TUwJj2cl7-1hlMsm04u-4TKcl1ZW62R5d8ULrdFK2uplwN5E927z6/s1600/DSC_0012.JPG" height="320" width="180" /></a></div>
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MIT professor Erik Demaine shows in public domain curriculum
how forward time travel projection react with advanced data structures, and how
past variations impact the present. Idem with space domain. This is a crucial
variational view on big data representation in space and time. http://courses.csail.mit.edu/6.851/spring12/<o:p></o:p></div>
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Worthwhile analysing this Information Science modeling from
a big data economics perspective: how would the price of data represented in
structure considered evolve? How can the data structure support one or another
business model over time? Over space? Over statistical propulations?Imagine you
want to test the stability of a pricing model against changes. You can
introduce variations in the past versions of data structures, and see how they
propagate and impact the present data structures. This is already a degree of
abstraction, a layer of business and pricing model (linked/on top of data
structure) and and how it may evolve, subject to changes happening in the
environment.<o:p></o:p></div>
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Worthwhile analysing further...<o:p></o:p></div>
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The MIT course is highly commendable, deep notions are
presented in a very attractive way.<o:p></o:p></div>
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6.851: Advanced Data Structures (Spring'12)
courses.csail.mit.edu<o:p></o:p></div>
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TIME TRAVEL We can remember the past efficiently (a
technique called persistence), but in general it's difficult to change the past
and see the outcomes on the present (retroactivity). So alas, Back To The
Future isn't really possible. MEMORY...<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-62700687444721259942015-03-20T13:38:00.002-07:002015-03-20T13:38:40.541-07:00<h2 style="text-align: center;">
DETECTION</h2>
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Avoiding or reducing the impact of human made or
human-linked (epidemics) catastrophes like the Great Fire of London of 1666, or
the last cholera epidemics in the same city, and protecting populations against
known and monitored risks, depend on two data streams:<o:p></o:p></div>
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-monitoring and detecting events
in real time<o:p></o:p></div>
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-warning in real time.<o:p></o:p></div>
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The value attached to these is the protection of lives and
assets.<o:p></o:p></div>
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Insurance companies have their methodology to evaluate risks
and acceptable costs to prevent or reduce those risks. They sell insurance
products to individuals and organisations.<o:p></o:p></div>
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Governments have their own policy to manage, eliminate or
mitigate risks. Politicians are judged on their ability to manage risk
avoidance schemes, and when a catastrophe happens, on how they manage a crisis. Tuning the detection scheme pessimistically leads to
overprotecting, and high cost for no added benefit. Tuning the detection scheme optimistically may overlook
risky situations and under-dimension the response scheme. Instead of mathematical models of assumed probability
distribution under this hypothesis, multiple scenarios have to
be considered, and risk must be bounded with a lower and an upper bound,
leading to mathematical inequalities and multiple stochastic models.</div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
Railway companies use a standard model, jointly developed by
them at ISO, where risk is categorised by the potential impact, the highest
being many lives at risk.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
They can build on a long history, which has led to safe
railway journeys, with now very few accidents.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
Here is a spectacular one of 1895, which claimed only one
life:<o:p></o:p></div>
<br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
http://en.wikipedia.org/wiki/File:Train_wreck_at_Montparnasse_1895.jpg<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-53887698041945639702015-03-20T13:33:00.001-07:002015-03-20T13:33:28.257-07:00<h2 style="text-align: center;">
<span style="font-size: 26.0pt; line-height: 115%; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Source
data: trading rights?</span></h2>
<div class="MsoNormal">
<b><i>The article below addresses
rights as they are observed in movies, and works or arts, exploring how the
underlying concepts may apply for big data economics.<o:p></o:p></i></b></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2Rh53FAaEM_tossU-tdVRi8CyR-A_6f2tYb6pbnDvSknfVn63RfFYQuHXf8VJfOFpOCpYCiTc7HRcedlfZmR7cKpRrlm32G6BTJ021TfEbiKthjgFa2litsLSFFuKvlbpvdrB5ElUdJwj/s1600/DSC_0563.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2Rh53FAaEM_tossU-tdVRi8CyR-A_6f2tYb6pbnDvSknfVn63RfFYQuHXf8VJfOFpOCpYCiTc7HRcedlfZmR7cKpRrlm32G6BTJ021TfEbiKthjgFa2litsLSFFuKvlbpvdrB5ElUdJwj/s1600/DSC_0563.jpg" height="240" width="320" /></a></div>
<div class="MsoNormal">
<b><i><br /></i></b></div>
<h2>
MOVIE RIGHTS<o:p></o:p></h2>
<div class="MsoNormal">
The movie business model can be summarised as a succession
of windows of exploitation, and within each window rights can be sold and
bought with conditions of use attached (time interval, geography, potentially
number of users, platform of rendering). Typically a movie is released in one
or a handful of Premiere cinema theatres, then in exclusivity to a number of
cinema theatres in a given geography, then to all cinemas, then pay TV and
packaged media like Bluray or online pay service, then broadcast commercial or
public free to air TV.<br />
[Of course it is more than this]<br />
<br />
Assume an individual grants access to part of his/her personal data, say
biological and health parameters. The data set could be accessed under a
contract granting specified rights: scope and time window of use, with robust
anonymisation requirements (say that the data has to be used as part of a set
comprising at least xxx other subjects at each processing step).<br />
Is this "right" business model, and its underlying organisation of
the market place robust to:<br />
-reselling data set for later use, within agreed scope?<br />
-retrieving subjects for later negotiation of changed scope (e.g. a
food&beverage company having interest to access a data set previously used
for health analysis)<br />
-auditing the proper use by processing companies and their clients<br />
-inserting mechanisms for deleting data sets after "do not use after"
date.<br />
<br />
In the digital world, data can be reproduced at negligible cost, hence what
matters is not the instantiation of a data parameter, but the source
"blueprint", the equivalent of a manuscript and not of the thousands
of printed books derived from this manuscript.<br />
<!--[if !supportLineBreakNewLine]--><br />
<!--[endif]--><o:p></o:p></div>
<h2>
<br />
WORK OF ART<o:p></o:p></h2>
<br />
<div class="MsoNormal">
This leads us to
the model of a work of art, say a Van Gogh painting.<br />
The asset can be made available to museums for exhibition (use limited in time
and geography, associated with an audience, or number of visitors, targeted or
recorded). It can also be "transcoded" into different
representations, as authorised photographs, reproductions, etc...<br />
A single work of art can be valued over time as "junk", zero or
little, and up to enormous values.<br />
As a category, French Impressionists were often not valued in France, but had
some early customers in the USA. Many years later, works despised earlier
reached huge values at auctions.<br />
However, data seen as information may be more valuable at an early stage of its
life than at a later stage. A bottle of milk loses its whole value on the
"best before" date: it usually gets heavily discounted on the day,
and discarded at the end of that day.<br />
News are normally expected to be fresh. For instance the current temperature is
useful to me now, the 3-days weather forecast is of interest to chose clothes
for a trip. After the trip, this past information has lost value. However, the
long tail business model for the exploitation of entertainment content like
movies or music recording, may also apply: the time series of the values of
source data may be of interest as history, and based on history, some forecast
estimates can be proposed (with associated uncertainty).<br />
<br />
An electrocardiogramme database of people living in the 1950s may be
interesting to revisit in the 2050s, hence it should not be discarded.<br />
There is probably a distinction to be made between the value of some freshly
acquired data, stored in cache memory, and the value of an archive.<br />
Keeping and maintaining an archive has a cost, for instance transcoding from
legacy formats and systems to current ones for new use.<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-34597176095058078352015-03-20T13:31:00.000-07:002015-03-20T13:31:02.903-07:00<h2 style="text-align: center;">
<b><span style="font-size: 16.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">**When
ownership gets transferred**</span></b></h2>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixvtbasNV-vb8sR41upkma9uOJDzfSYDVlQIHi00AnpiKgxmCE3ahaIX_BuyTFPuSthyiCbohKHwTu9yeoBkWf18sIqA10_PC8jB_K2V9fpjpWDuYBVZCzpSMdvZvZLpxJJG6Hnjy_mSwq/s1600/DSC_2429.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixvtbasNV-vb8sR41upkma9uOJDzfSYDVlQIHi00AnpiKgxmCE3ahaIX_BuyTFPuSthyiCbohKHwTu9yeoBkWf18sIqA10_PC8jB_K2V9fpjpWDuYBVZCzpSMdvZvZLpxJJG6Hnjy_mSwq/s1600/DSC_2429.JPG" height="320" width="180" /></a></div>
<div>
<b><span style="font-size: 16.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><br /></span></b></div>
<div class="MsoNormal">
<b>*Smooth case<o:p></o:p></b></div>
<div class="MsoNormal">
I recently moved offices, and did not want to move my
desktop displays: I had been offered new displays in the new location. I just
had to administratively transfer the ownership of the displays I was leaving to
another department at that location. Done, moved on.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
</div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh69FaTXH_ie7N0lenFF0hk0E3vzIdYNOIA2vKpwpG_p3PmbWe3nFT104L0Apv71McHR3KrRaKwMGsp39tcPiZsKFeDNSOIYhfHqKXvXpoo7T1HoHZt8R6SxuMW3JI5eSfX8SZIiRN8g8_W/s1600/DSC_2402.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh69FaTXH_ie7N0lenFF0hk0E3vzIdYNOIA2vKpwpG_p3PmbWe3nFT104L0Apv71McHR3KrRaKwMGsp39tcPiZsKFeDNSOIYhfHqKXvXpoo7T1HoHZt8R6SxuMW3JI5eSfX8SZIiRN8g8_W/s1600/DSC_2402.JPG" height="180" width="320" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>*What silver coins
teach us<o:p></o:p></b></div>
<div class="MsoNormal">
My grandmother gave me once a silver coin valued 5 French
Francs. I thought she had given me 5 FR I could spend. She got into the habit
of giving me more such coins, now and then, a few times per year. <o:p></o:p></div>
<div class="MsoNormal">
I kept the coins in a drawer, thinking they were accumulated
as pocket money does, and I could spend them when the occasion would occur. I
remember that in those years you could get very nice vinyl records for 15 FR in
a Montparnasse shop (central Paris).<o:p></o:p></div>
<div class="MsoNormal">
Now we got to speak about it with my grandmother, and it
became apparent that it was not the view nor intention of my grandmother that I
would spend this pocket money. The coins were given to me for… KEEPING. She saw
these as collection items. Silver coins with currency value were ambivalent: they
could be seen as 5 FR, or as a weight of silver valued as such. It was not
meant as a coin like any other, but as a
personally TRANSFERRED FROZEN ASSET from my grandmother as the GIVER to me as
the KEEPER, not exactly the happy recipient.<o:p></o:p></div>
<div class="MsoNormal">
Much later, I read about the Bretton-Woods agreement, and
the following history of suspending the convertibility of currencies to gold,
starting with the dollar in 1971. The veil of the money and the veil of metal
convertibility of money, are wise explanations from economists for real
microeconomic situations.<o:p></o:p></div>
<div class="MsoNormal">
A main thing I would take for big data from this observed
case, is that when transferring source data, from one producer or other seller
to a buyer or user, the data as IT record of file is transferred, but it is
also transferred with economic and contractual/legal expectations and rules of
use. This also happens if the data is open or free.<o:p></o:p></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlL97bXeyVygi7thVFHmQOea1vvYSeZemkz8_nnDVqj6_NRaCICFHbsXORp2nS63pnTPkdsHhH3q49CgwQ8MmG5b62x4n4GDWWmXjPdDNq3NvcYKzb7UQASOo-CsLuaUrMKKfCGVjvDW4u/s1600/DSC_0527.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlL97bXeyVygi7thVFHmQOea1vvYSeZemkz8_nnDVqj6_NRaCICFHbsXORp2nS63pnTPkdsHhH3q49CgwQ8MmG5b62x4n4GDWWmXjPdDNq3NvcYKzb7UQASOo-CsLuaUrMKKfCGVjvDW4u/s1600/DSC_0527.jpg" height="240" width="320" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>*From music<o:p></o:p></b></div>
<div class="MsoNormal">
Recorded music has shown us different patterns of transfer:<o:p></o:p></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
-open market, with competing
publishers, and users able to shop around as I did in Montparnasse<o:p></o:p></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
-direct peer to peer online,
possibly illegal<o:p></o:p></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
-closed market places as iTune,
working as an integrated value chain.<o:p></o:p></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAVRUpDhR9PRILRGFDKiB1rHMlfSd74B_hMPK3Q2jb5u2-UuT5TGpSC9wGqr1sGk8EE8CL4MOEXB49adPJSNNMhrOZiwdNf9SgEPcpuHElANMwAzfJ2Wq-AH1c_yhP0nAxIn8p-nxImoLT/s1600/DSC_0143.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAVRUpDhR9PRILRGFDKiB1rHMlfSd74B_hMPK3Q2jb5u2-UuT5TGpSC9wGqr1sGk8EE8CL4MOEXB49adPJSNNMhrOZiwdNf9SgEPcpuHElANMwAzfJ2Wq-AH1c_yhP0nAxIn8p-nxImoLT/s1600/DSC_0143.jpg" height="180" width="320" /></a></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>*From organ donation<o:p></o:p></b></div>
<div class="MsoNormal">
Organ donation brings us closer to personal data and
parameters (such as biological measurements):<o:p></o:p></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
-one donates a part of their body<o:p></o:p></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
-one expects with right that this
body part be used very carefully, with a genuine best effort to save someone’s
life.<o:p></o:p></div>
<div class="MsoNormal">
To avoid the grandmother’s syndrome above, organ donations
are anonymised, except in obvious cases such as direct and immediate donation
to a family member.<o:p></o:p></div>
<div class="MsoNormal">
Well, closer even to real-time big data, flowing, blood
donations are also very carefully managed, end to end.<o:p></o:p></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdyFegWiBNl3CbDiA1a-Y73XHdtuLGAlwzRwGQos75bintT1SZHTZ-03eVd7qlpyUPrPAG9PWjpPnaQyXNd8WZ8Rb_BfbUYHZZW6Jbi5knXeViju4tHQjrlekDGof4UHSmavPcjnH-EbTT/s1600/DSC_0531.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdyFegWiBNl3CbDiA1a-Y73XHdtuLGAlwzRwGQos75bintT1SZHTZ-03eVd7qlpyUPrPAG9PWjpPnaQyXNd8WZ8Rb_BfbUYHZZW6Jbi5knXeViju4tHQjrlekDGof4UHSmavPcjnH-EbTT/s1600/DSC_0531.jpg" height="320" width="240" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>*And now, for big
data?<o:p></o:p></b></div>
<div class="MsoNormal">
The question this leads us to is: what happens to data once
it is transferred from one economic agent to the next? What “ownership” with
rights and responsibilities gets transferred? What is then a fair transfer
price?<o:p></o:p></div>
<br />
<div class="MsoNormal">
By the way, as long as the source data does not result (at
the processing stage considered) into an end-user service being sold, it is
free of VAT <span style="font-family: Wingdings; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-char-type: symbol; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin; mso-symbol-font-family: Wingdings;">J</span>.<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-32988365375316478092015-03-20T12:43:00.001-07:002015-03-20T12:43:47.796-07:00<h1>
<span style="font-size: 20.0pt; line-height: 115%; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">B</span><span style="font-size: 20pt; line-height: 115%;">ig Data:
source data as a tradeable commodity</span><span style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 10pt; line-height: 12.75pt;"> </span></h1>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKJIkzOxC6jM4yEQjXhFHFq_zPq0KY-tg-bQf2kMINuefDVEd587KbrCKMcFdbTc0fNN3U8JOLs-t1oim1JZBhHsMl4NmcvTx2CIT52Y0Ie96ZcnVv4kxxC0roo2HnjBuVFSNybjFYspRM/s1600/DSC02130.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKJIkzOxC6jM4yEQjXhFHFq_zPq0KY-tg-bQf2kMINuefDVEd587KbrCKMcFdbTc0fNN3U8JOLs-t1oim1JZBhHsMl4NmcvTx2CIT52Y0Ie96ZcnVv4kxxC0roo2HnjBuVFSNybjFYspRM/s1600/DSC02130.JPG" height="240" width="320" /></a></div>
<div>
<span style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 10pt; line-height: 12.75pt;"><br /></span></div>
<div>
<span style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 10pt; line-height: 12.75pt;"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 12.75pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 0cm; margin-right: 11.25pt; margin-top: 0cm; vertical-align: baseline;">
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Big Data business builds on data as THE key input. This raw material,
data sets, a new commodity, has received less attention from the Economists
than raw material, called commodity. What can we learn from Commodity Trading?
Market Places for Commodity, produced by farming or extracted by mining for
instance, provide for a longer Economic History span than primary or source
Data.<br />
Cocoa has been studied by Economists, from the early use as a currency in pre-Colombian
America, then an energy drink used by Spanish explorers, brought back to Europe
and enjoyed as a precious drink from XVIth to XVIIIth century, then mixed with
milk in a Swiss process from XIXth century.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 12.75pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 0cm; margin-right: 11.25pt; margin-top: 0cm; vertical-align: baseline;">
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br />
Minerals extracted through mining give a good analogy for data coming from
sensors. By the way the Schlumberger brothers were forerunners in exploratory
big data targeting mineral resources.<br />
The data quality, the authenticity of the source, the availability of data, are
common features with raw minerals.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 12.75pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 0cm; margin-right: 11.25pt; margin-top: 0cm; vertical-align: baseline;">
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br />
What can we learn from Commodity Industries and Commodity Trading? Extraction
costs? Mechanisms determining their value?<o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-82328261960893239152015-03-20T12:39:00.003-07:002015-03-20T12:39:47.529-07:00Business books reviewed<h2>
<b> </b><b><br /></b><b>Reviewing Economics & Business books, </b></h2>
<h2>
<b>as input for Big Data Economics</b></h2>
<div class="separator" style="clear: both; text-align: center;">
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh8IAdd9IyVXvLGJR_Z41VkCyItbU7dDEPRdAj7cvYJh2pqobwIjEYMmOPGpJzXlZfldy9kE_EHHguZlKEM2SDF1lL57ZfXGhHVITF-M9IQyLiiaiALLPc7bgZfPc2w_GhVuaW1MOfO82wC/s1600/DSC_0532.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh8IAdd9IyVXvLGJR_Z41VkCyItbU7dDEPRdAj7cvYJh2pqobwIjEYMmOPGpJzXlZfldy9kE_EHHguZlKEM2SDF1lL57ZfXGhHVITF-M9IQyLiiaiALLPc7bgZfPc2w_GhVuaW1MOfO82wC/s1600/DSC_0532.jpg" height="240" width="320" /></a></div>
<div>
<b><br /></b></div>
<br />
Let me share with you some titles:<br />
<br />
<b>-1) Planet Google by Randall Ross</b><br />
This book reviews the growth of Google, as an addition of goals followed through, starting with indexing the information of the Internet to make it searchable, and going through Youtube, Googlemap, etc...<br />
The book is quite well structured, allowing to understand the systematic pursuit of business objectives rooted in facts (science & engineering, market). The exploration and chartering of the world's information, as completely as possible, performed by google is an amazing piece of work, and this book describes it very well.<br />
Interesting read for anyone interested in the economics of big data, naturally...<br />
<br />
<b>-2) Googled, the end of the world as we know it, by Ken Auletta</b><br />
This book has a very different approach to the one above. It is more a classical business story told well, with details of interest. I have liked the beginning where the author sketches a biography of the two founders, and their family background in advanced mathematics for one (father lecturing on Riemannian geometry, mother with advanced mathematics & biology degrees) and computer science for the other (two parents university professor & lecturer).<br />
<br />
<b>-3) An Introduction to Sustainable Development, by Peter P Rogers, Kazi F Jalal & John A Boyd</b><br />
This book has a few chapters which connect well with the problems of starting economic analysis where market prices may not be available or not be the only criterion:<br />
their chapter 9 on the economics of sustainability, chapter 10 on externalities, valuation and time externalities, and chapter 11 on natural resource accounting.<br />
However, it is not a toolbox from which one can extract what we need for Big Data Economics, at best an eye opener, and an encouragement to develop models in certain directions, proven to be usable in a domain different from Big Data, with the commonality that it still has some "terra incognita" features yet to be explored and mapped.<br />
<br />
<b>-4) Fighting the banana wars and other Fairtrade battles by Harriet Lamb</b><br />
This book may interest you because the Fairtrade scheme brings a new set of economic standards and criteria in the food market ( and other) arena: respect the planet, respect the people (producers or consumers), introduce sustainability and risk reduction in an otherwise fierce competition with commodity price volatility.<br />
Why is it relevant to the analysis of economics for big data? For the reasons above, but also and probably more importantly because big data as source data (source data sets, flow) is the commodity of the digital age, and it is interesting to build on the experience gained in the area of physical commodities and ways to address their price volatility (and potentially chaotic availability depending on crops, good or bad weather, natural disasters).<br />
<br />
<b>-5) Marx, the key ideas, by Gill Hands ("teach yourself" series)</b><br />
Do not smile before you know why I put this book here.<br />
I started from the reflection that today the economics of the digital markets is governed by a production equation adding the costs of software to the costs of networks, and most of the time ignoring data costs or not paying much attention to them.<br />
Marx may be criticised: his ideas may have led to human catastrophes. However as an economist he managed to convince everyone that Labour aspects (labour costs, workers' condition, etc) needed extra care in the age of the industrial revolution. He added Labour as a key variable into the production equation where other costs could be called "Kapital" and Assets.<br />
Hence if we want to highlight "source data" in a context where "my software is valuable and your data needs to be free to me" or where yet another conflicting view says "my network is valuable, and your software needs to pay for consuming it", we may learn from how Labour as an economic parameter was recognised as a key driver of the coal & steam age.Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-57745216224344562702015-03-05T11:59:00.001-08:002015-03-05T12:00:40.168-08:00<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUQ_M45M03DEsrfW_kjdCbUATJgDz03Gb5u_j0QvR4hK2L_IDr_xi7kMVmPcoHeNy8PTfFltWtN36WV8v9Blx6GgbIZPNioMvpdxL5P4fAxvTo_HidixPahQ3Se6Nsuc40RmAcsUiLDlmS/s1600/Data+economics+roles.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUQ_M45M03DEsrfW_kjdCbUATJgDz03Gb5u_j0QvR4hK2L_IDr_xi7kMVmPcoHeNy8PTfFltWtN36WV8v9Blx6GgbIZPNioMvpdxL5P4fAxvTo_HidixPahQ3Se6Nsuc40RmAcsUiLDlmS/s1600/Data+economics+roles.jpg" height="300" width="400" /></a></div>
<br />
<div>
<b>DATA OWNER</b></div>
<div>
<br /></div>
<div>
This description of a data "input" value chain assumes that data is owned by someone or by an organisation. The ISO-IEC JTC1 Study Group on Big Data has been very clear that there should be a universal attribute to data specifying its owner(s).</div>
<div>
<br /></div>
<div>
The data owner could be an individual: for instance, consider the case of personal data owned by a person. More broadly the data generated by objects owned by a person are likely to be owned by this person: for instance the current geographic position of my car. This means that there are expanding circles around people, with data in such circles. This creates a natural link across the areas of the Internet of People, where people communicate and interact with each other or with "the Internet", and the Internet of Things (IoT) with sensors and actuators, and machine intelligence all connected to serve (hopefully) the needs of humans.</div>
<div>
<br /></div>
<div>
It starts with the core, the body, with body area sensors, continues with anything wearable, and beyond to anything owned, within physical or virtual reach.</div>
<div>
The data ownership could be shared by a group, call it social, with a defined aim, for instance producing CBPP (Common Based Peer Production) as in the world famous Wikipedia. Note that the P2P value project of the EU addresses the topic of organisation and mechanisms at play in CBPP, with over 300 such social groups studied.</div>
<div>
</div>
<div>
An other interesting case of data ownership is the Industrial Internet, where companies generate for their own operation data, which they use internally (mostly), in schemes such as a supervised distributes system, using typically a control room. Today a telecom network, a transport network (railways in particular, but also metro, road air and sea transport), an energy network are in this category. Some subsets of such operations data may be eligible for the company to release it for specific use.</div>
<div>
<br /></div>
<div>
Data generated by wearable devices is also a category of interest to the business and consumer communities, with multiple purposes being envisaged already (sports, well-being, health, new forms of communications) and many more to come.</div>
<div>
<br /></div>
<div>
<b>DATA COLLECTOR</b></div>
<div>
<br /></div>
<div>
This can be one of the few large Internet brands. This can also be any company in operations such as the ones above. This can also be an individual aggregating their own data in multiple ways, for multiple purpose: current and future (forensic data, the extension of the collection of post cards and pictures into the general data domain).</div>
<div>
Governments are data collectors. Organisations: public or private, acting in pursuit of business or social goals are data collectors.</div>
<div>
Even when the data is accepted as not being subject to a price tag, its use must conform to established rules and laws.</div>
<div>
<br /></div>
<div>
A data collector builds consistent and structured sets from individual potentially unstructured data vectors.</div>
<div>
This entails quality control of the source, or to use other language the "veracity" of the information. </div>
<div>
The aim is to prepare the input of an efficient data processing.</div>
<div>
<br /></div>
<div>
<b>DATA USER</b></div>
<div>
<br /></div>
<div>
A data user is typically an organisation or an individual performing analytics on data sets. For this purpose they need to either directly collect data sets, or buy rights to access such dats sets for their defined purpose and scope from data suppliers, which are the data collectors, or data brokers acting on behalf of the data collectors (retail role).</div>
<div>
Data users needs data sets suitable for their need. This is the demand-side in economic terms, and the data collector or data broker is the supply-side.</div>
<div>
<br /></div>
<div>
Note that the use of data through analytics may lead to decisions, with in turn such decisions producing data sets in the command domain, for remote and distributed execution of such commands implementing the decision taken.</div>
<div>
For instance real time systems with a feedback loop, also called automated systems, or optimal control, do not only "observe the world" through IoT sensors, but they act on the world through actuators, and supervised control, typically with supervision in a control room, as explained above.</div>
<div>
SCADA systems (supervisory control and data acquisition) are an important case of operational data use.</div>
<div>
<br /></div>
<div>
<br /></div>
<div>
<b>DATA PATH</b></div>
<div>
Naturally, when the data collector gathers data, and forms data sets, initial data D0 is transformed into D1 and the set accessed by a user for a specific purpose and scope is D1* (optimised or limited for this use).</div>
<div>
Hence a data path from extraction, collection, shaping, homogeneising and fitting to user purpose.</div>
<div>
<br /></div>
<div>
<b>PAYMENT PATH</b></div>
<div>
Users purchase rights to use the data for their own purpose and scope, and payment flows possibly through the data collector, with part of the payment remunerating the data owners.</div>
<div>
The organisation of payment and retail is being studied, and a publication addressing this subject is being prepared.</div>
<div>
<br /></div>
<div>
<i>Copyright R. Di Francesco, 2015 </i></div>
<div>
<br /></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-3391631392749223252015-02-01T08:39:00.001-08:002015-02-01T08:39:33.875-08:00VALUE: Progressing the economics of source data<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
I will discuss briefly here how the fuel of any big data system, source data, can receive the needed attention, from an economic modelling perspective.</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
Interested readers are referred to:</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
<a href="http://www.amazon.com/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2">http://www.amazon.com/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2</a></div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
Naturally, big data systems are engineered as Information Technology solutions, with the associated cost engineering, on a project by project basis. My assumption is that as big data becomes pervasive, the re-use of data and sharing across multiple use ranges, will make a lot of sense, and let the suppliers and users benefit from economies of scale and critical mass effects.</div>
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</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUsinqpJBYN97yt40Eqv2-XqHWBAV5rJC6OS-egxGYwYAnpO81i10VZQc53iSJxmw_O4w29PuOg0xYBK1VKTRlfa7Brj1mXLMa_13mDpnwRf5DnYFi_xH0y6euT-ChAwP5KKw27fwC50Mo/s1600/Big+Data+SCOPE-copyright.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUsinqpJBYN97yt40Eqv2-XqHWBAV5rJC6OS-egxGYwYAnpO81i10VZQc53iSJxmw_O4w29PuOg0xYBK1VKTRlfa7Brj1mXLMa_13mDpnwRf5DnYFi_xH0y6euT-ChAwP5KKw27fwC50Mo/s1600/Big+Data+SCOPE-copyright.jpg" height="480" width="640" /></a></div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
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<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
<strong>QUESTION 1: THE VALUE of data</strong></div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
The first question to ask is about the value: are these data I am using of value? What is the value of the data I have extracted? What would be the value of additional data, and where could I get them?</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
Economists following in the steps of Adam Smith distinguish two types of value:</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
</div>
<ul>
<li>the value of use</li>
<li>the exchange value</li>
</ul>
<br />
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
Obviously, a good which you need for a certain purpose, has a use value to you. If you are thirsty, you need water, for instance.</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
As for the exchange value, this is a good which you can sell, or buy, because it is traded, and comes with a price on a market. For instance cocoa was an asset used as money in Precolombian civilisation of Latin America. The classical example is diamond.</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
For data, let us give examples in each of these two categories of value:</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
-<b>Use value</b></div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
An automated system, supervised from a Control Room (say a train network, an electrical grid, a telecommunication network) uses for its own purpose industrial data. This data has an obvious use value, however the data owners seem to be little keen on releasing such data, even for a price, to third parties. This data use case is perceived to fit under a dominant "value of use" and not any identified "exchange value" yet.</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
<b>-Exchange value</b></div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
An entertainment content such as a movie, materialises (virtually :) ) as a file, which is a data-set. It has an exchange value: rights are sold to cinemas, TV channels, and end users, for viewing this content. In package media form (Bluray, DVD), it can be resold even, by consumers.</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
Naturally there are many more questions regarding "big data economics" and leading "towards data market places". The following book I have published recently on Amazon/Kindle Editions addresses some...</div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
<img class="center" height="850" src="https://www.linkedin.com/mpr/mpr/p/2/005/0b4/17e/2250ff8.jpg" style="display: block; height: auto; margin-bottom: 15px; margin-left: auto; margin-right: auto; max-width: 100%; text-align: center;" width="589" /><a href="http://www.amazon.com/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2">http://www.amazon.com/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2</a></div>
<div style="color: #4d4f51; font-family: Helvetica, Arial, sans-serif; font-size: 16px; line-height: 24px; margin-bottom: 30px;">
<br data-mce-bogus="1" /></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-37161132169482754642015-01-14T10:22:00.000-08:002015-01-14T10:22:09.155-08:00Debate on the Economics of Data, at TELECOM PARIS workshop on 12 January 2015Here is a summary of the lively <b><span style="color: blue; font-size: large;">Debate on the Economics of Data</span></b> hosted by Telecom Paris university on 12 January:<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkl3Hx0hjtkdyvcY2ZTInMmNqi_BikVxgQUPcjIW8DKK-eJnzvLFCpxuQZY_GfgorZ71NChw0hBi2PbjfbA7cgU-sFaAKKY-SI_1_VjP5lcdM2lvyId1QqX4jkig_qHt2saap4HcWVRTCR/s1600/big-data-economics-TELECOM-2015-01-12.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkl3Hx0hjtkdyvcY2ZTInMmNqi_BikVxgQUPcjIW8DKK-eJnzvLFCpxuQZY_GfgorZ71NChw0hBi2PbjfbA7cgU-sFaAKKY-SI_1_VjP5lcdM2lvyId1QqX4jkig_qHt2saap4HcWVRTCR/s1600/big-data-economics-TELECOM-2015-01-12.jpg" height="184" width="320" /></a></div>
<br />
<br />
<b>Industrial data?</b><br />
Currently industrial data are part of closed systems, and the suppliers and users of such systems are very protective about sharing with third parties.<br />
However, some intents are being made.<br />
<br />
<b>Luxury data?</b><br />
Some data can be seen as Giffen good, where high price is expected and desired as part of the value proposition (luxury car, etc). Some "gem" data exist.<br />
High value financial information is part of this category.<br />
Beyond any open economy, State Security data has a somewhat comparable exclusive status.<br />
<br />
<b>Key sectors?</b><br />
Business intelligence is a very active market for big data solutions already.<br />
Health Care and Care for the ageing population is an other area, where big data solutions could:<br />
-support the people in care<br />
-support the carers<br />
especially in the Ambient Assisted Living framework.<br />
<br />
<b>Data management?</b><br />
This is a key question. In particular ensuring that data owners keep control of multiple, possibly cascaded use.Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-42479387556126952362015-01-13T09:15:00.000-08:002015-01-13T09:20:50.841-08:00<div style="text-align: center;">
<b><span style="font-size: large;">Big data economics, </span></b></div>
<div style="text-align: center;">
<b><span style="font-size: large;">Workshop at Telecom Paris Tech, </span></b></div>
<div style="text-align: center;">
<b><span style="font-size: large;">12-1-2015, </span></b></div>
<div style="text-align: center;">
<b><span style="font-size: large;">Paris, France</span></b></div>
<div style="text-align: center;">
<br /></div>
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<div style="text-align: center;">
<br /></div>
<b><u>Event</u></b><br />
100+ registered attendees<br />
Introduction by Patrick Duvaut, director of research at Telecom Paris-Tech<br />
Presentation by Renaud Di Francesco<br />
Speech by Pierre-Jean Benghozi<br />
Participation of Yves Poilane, director of Telecom Paris-Tech<br />
<br />
<br />
<br />
<br />
<b><u>Presentation summary</u></b><br />
<br />
<b>The scope of big data</b>, is broader than business intelligence, and extending towards:<br />
-real world to digital, analytics AND decision, feedback to real world<br />
-real time<br />
<br />
<b>A change in needed technology portfolio</b> is happening, beyond NoSQL and search technologies, with other technologiues determining success:<br />
-signal processing<br />
-maximum likelihood decision methods<br />
-optimal control<br />
-real time system engineering<br />
<br />
<b>The digital economy relies on three pillars</b>, two of which have identified pricing schemes and economic mechanisms:<br />
-software<br />
-network<br />
however, the third one, data, does not always have recognised value, and economic mechanisms.<br />
For instance, what is the price of an electrocardiogramme as usable data? What is the price of my geographic position?<br />
<br />
Nevertheless in some sectors and categories, data can have pricing schemes and economic mechanisms:<br />
-content (e.g. movie) industry<br />
-news<br />
-loyalty schemes<br />
-etc...<br />
<br />
<b>Starting from these chartered territories of big data</b>, one can start considering adapted economic schemes for new data categories, which are not yet priced and covered by economic schemes.<br />
<br />
<b>The software licensing scheme </b>offers a starting framework for data contracts, which cover rights on data.<br />
<b>The enforcement of rights is helped by Digital Right Management</b> systems granting authorised access to the data.<br />
The target for a data economy to work efficiently is the development of data market places, where data collectors, data owners, data users, and data processors, meet as data offer has to meet data demand.<br />
<b>The raw material or commodity market places </b>established for physical goods give a reference framework from which data market places can be derived.<br />
Moreover, in some categories, digital data market places are already in operation. For instance Getty Images buys and sells pictures, which are a special case of data.<br />
<div>
<br /></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-50225788475224887732014-12-29T08:51:00.000-08:002015-01-23T08:29:00.857-08:00DATA economics: risks of pricing to ZEROCommodities were targets of wars, of many kinds including colonial ones. This was infortunate. Today the economics of commodities is structured into commodity trading and their associated market places.<br />
This was the physical world, and still is...<br />
<br />
NOW comes the digital world, and the ubiquitous digital part of any economic activity in any sector...<br />
The new commodity is DATA, or more precisely SOURCE DATA.<br />
<br />
Recognise with me that an easy but complete model of the DIGITAL ECONOMY builds on three pillars: software, networks, and data.<br />
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<br />
https://www.xing.com/communities/posts/digital-economy-how-does-it-work-1009091263<br />
<br />
Software is valued, so are Networks, but what about the raw data, the source of sources?<br />
Take the case of consumers using a widely spread digital environment: they want their maps and guidance, their calendars, and written or visual communication anywhere anytime. To get this basic requirement of today's life (digital, partly digital at least) they give away their data, which are a precious input for others to make lots of money with it.<br />
Unrefined oil is not as precious as refined oil from the gas/petrol station, but is oil free? And oil comes from the ground, not from people themselves. So why should DATA be free to those making money with it?<br />
<br />
Remember this horrible global economic activity headquartered in Bristol, UK? Free manpower exported to the New World. Shame on mankind to have allowed for it.<br />
<br />
Free is and should always be suspect unless it's transparently auditable, as in CBPP (commons based peer production as wikipedia). Otherwise "make it free for me" is at the source of this untransparent integrated economy which ruled Sicily, the birth place of my grandfather, for too long.<br />
<br />
In technical terms, set a Lagrange multiplier (price can be seen as one) to zero, and the constraint which could also have revealed opportunities in economic terms, disappears.<br />
Here is a scheme showing how the "give me your data for free" scheme works in the Digital Economy.<br />
<br />
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<br />
<br />
https://www.xing.com/communities/groups/big-data-economics-c6b9-1073836<br />
<br />
NOW, here is a first intent to see how to price more systematically data, and progress to wards data market places as the physical economy did when it created commodity trading, and their associated market places.<br />
This book has been published last month. It builds on use cases and data categories which have a price and economic schemes, to suggest new ways to address data pricing, using, ecosystems, etc.<br />
<br />
http://www.amazon.com/Data-Economics-Towards-Market-Places-ebook/dp/B00QD7LMO2<br />
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Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-391745894841235102014-12-29T04:40:00.001-08:002014-12-29T04:40:37.424-08:00XING: starting a big data economics group<div class="separator" style="clear: both; text-align: center;">
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<br />Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-77987558209151094952014-11-29T17:22:00.000-08:002014-11-29T17:22:22.912-08:00Big Data Economics: THE BOOK<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0MvxdmdrJbAY6lUMoHra0EbZhA0plT_xaVt2IYCv7E66LJ_xf32si2SgvSDyV9usL_2j44GAGSzxrwi1dgpkTiq2iCCngZoeDk_qUCUvc5BDpjn4UgEFbbfNOsK6rH7j7gmL9aJtrui8x/s1600/Big+Data+Economics-book-cover2014-11-25.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0MvxdmdrJbAY6lUMoHra0EbZhA0plT_xaVt2IYCv7E66LJ_xf32si2SgvSDyV9usL_2j44GAGSzxrwi1dgpkTiq2iCCngZoeDk_qUCUvc5BDpjn4UgEFbbfNOsK6rH7j7gmL9aJtrui8x/s1600/Big+Data+Economics-book-cover2014-11-25.jpg" height="640" width="443" /></a></div>
<br />Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com2tag:blogger.com,1999:blog-3054673732750432174.post-70013876206578777172014-11-29T17:21:00.006-08:002014-11-29T17:21:56.198-08:00<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5n-RoBtJH-GsTtr4LqYR57eYi2dTgms2eAey3tIwOS-fz0T1ONwLPZ-LTEBFuwamSJxIeCXhPOhryJTmw5e1295pNl1eFLYX2cP-M8RBDrtbFhabj-eUzaiwSW4-Ehw7KZeoLVLdC6r8g/s1600/Big+Data+Economics-book-cover2014-11-25.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5n-RoBtJH-GsTtr4LqYR57eYi2dTgms2eAey3tIwOS-fz0T1ONwLPZ-LTEBFuwamSJxIeCXhPOhryJTmw5e1295pNl1eFLYX2cP-M8RBDrtbFhabj-eUzaiwSW4-Ehw7KZeoLVLdC6r8g/s1600/Big+Data+Economics-book-cover2014-11-25.jpg" height="640" width="442" /></a></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="line-height: 115%; mso-bidi-font-size: 14.0pt;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="line-height: 115%; mso-bidi-font-size: 14.0pt;">This
book addresses the economics of Big Data, beyond a project by project cost
analysis.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="line-height: 115%; mso-bidi-font-size: 14.0pt;">The
fuel or input of any Big Data system is source data. In many cases of current
use of Big Data, excepting Open Data, the data is obtained for one single
purpose, and used by a single organisation, because of the likely absence of an
open and transparent market where such data can be purchased or sold. Our
objective is to analyse the objects, agents, and mechanisms at play for source
data within the Big Data context, and give an economic perspective rather than
an Information Technology engineering perspective to Big Data.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="line-height: 115%; mso-bidi-font-size: 14.0pt;">The
nature of data will be discussed, as a good which is digital rather than
material, can be replicated at virtually no cost, and is not burnt or consumed
in any irreversible way by its being used in a computation.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Requirements
for exchange mechanisms of source data, and associated rights of use, will be
discussed, with rules for transfer and use, control retention or not by
originating owner, privacy and other basic requirements and constraints on data
access. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
<span style="line-height: 115%; mso-bidi-font-size: 14.0pt;">Pricing
and contract requirements for categories of data rights will be described, and
illustrated on a few examples.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-43092324748635418492014-11-25T13:35:00.001-08:002014-11-25T13:35:18.742-08:00Big Data Economics, Towards Data Market Places<div style="text-align: center;">
Nature of Data, Exchange Mechanisms, Prices, Choices, Agents & Ecosystems</div>
<div style="text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyFy13mYXP_LUBH8pnCB4q0Br5vrcMq07WjbJVJsk8pUkh16oNfeKuGvlimQgXkO-n4gB9HMkoIDclrH8wRxtTAn4JyGRpgElN8MAJufT0nSrLcwTZAhNMCetkGgEaCN34LY0XjJ-VibkM/s1600/RDF01.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyFy13mYXP_LUBH8pnCB4q0Br5vrcMq07WjbJVJsk8pUkh16oNfeKuGvlimQgXkO-n4gB9HMkoIDclrH8wRxtTAn4JyGRpgElN8MAJufT0nSrLcwTZAhNMCetkGgEaCN34LY0XjJ-VibkM/s1600/RDF01.jpg" /></a></div>
<div style="text-align: left;">
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<div style="text-align: center;">
<br /></div>
<div style="text-align: left;">
by Renaud Di Francesco, PhD</div>
<div>
<br /></div>
<div>
<div>
<u>Executive summary</u></div>
<div>
<br /></div>
<div style="text-align: justify;">
<b>This book addresses the economics of Big Data</b>, beyond a project by project cost analysis.</div>
<div style="text-align: justify;">
The fuel or input of any Big Data system is source data. In many cases of current use of Big Data, excepting Open Data, the data is obtained for one single purpose, and used by a single organisation, because of the likely absence of an open and transparent market where such data can be purchased or sold. Our objective is to analyse the objects, agents, and mechanisms at play for source data within the Big Data context, and give an economic perspective rather than an Information Technology engineering perspective to Big Data.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>The nature of data</b> will be discussed, as a good which is digital rather than material, can be replicated at virtually no cost, and is not burnt or consumed in any irreversible way by its being used in a computation.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Requirements for <b>exchange mechanisms of source data</b>, and associated rights of use, will be discussed, with rules for transfer and use, control retention or not by originating owner, privacy and other basic requirements and constraints on data access. </div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
<b>Pricing and contract requirements</b> for categories of data rights will be described, and illustrated on a few examples.</div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
<b>The agents acting on data and the related ecosystems</b> will be presented with a model for roles and attributes.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>Particular cases with already established digital commerce of data</b>, and corresponding pricing, and right management schemes for digital objects will be discussed in several “verticals” or specific sectors of the economy.</div>
</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-1863093192823703362014-11-25T11:51:00.002-08:002014-11-25T13:27:46.022-08:00Big Data, driving decisions:THE book<span style="font-size: x-large;"><br /></span>
<br />
<h2 style="clear: both; text-align: left;">
<b style="text-align: center;"><span style="font-family: Arial, sans-serif;"><span style="color: #999999; font-size: x-large;">Big Data, Driving Decisions</span></span></b></h2>
<div class="MsoNormal" style="text-align: left;">
<span style="font-family: Arial, sans-serif;"><span style="color: #999999; font-size: large;">with direct impact on the real-world,<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif;"><span style="color: #999999; font-size: large;"><br /></span></span></div>
<div class="MsoNormal" style="text-align: left;">
<span style="color: #999999; font-size: large;"><span style="font-family: Arial, sans-serif;">this is the deep transformation ahead of us</span><span style="font-family: Arial, sans-serif;">.</span></span></div>
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<span style="font-size: large;"><span style="font-family: Arial, sans-serif;"><br /></span></span></div>
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<span style="font-family: Arial, sans-serif;"><br /></span></div>
<div class="separator" style="clear: both; text-align: left;">
<img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYWtT2tQtQAkjUwHKz5hpWsuHYFiPSCebc7cTFnNijUwBIu0XniLOw-PdWned3tSyMMAVvfG4AMKhSbKJYBt3DSBa0_5rX-s0xBui7YhJrAcheWuih0OrZ0aHavaAP4BG3qHw3jzfiVTnF/s1600/RDF02.jpg" height="199" width="200" /><a href="https://www.linkedin.com/profile/view?id=281674&trk=nav_responsive_tab_profile" rel="nofollow" target="_blank">Renaud Di Francesco - Linkedin</a></div>
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<div class="separator" style="clear: both; text-align: center;">
</div>
<div class="MsoNormal" style="text-align: right;">
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;"><i>Hello, I am Renaud Di Francesco, an Engineer and Technology Manager, with a record track in Digital Innovation (Patents, PhD).</i></span></div>
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;"><br /></span></div>
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;">I would like to introduce you to an aspect of Big Data: </span></div>
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;">-how <b>Big Data drives decisions</b></span></div>
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;"><br /></span></div>
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;">With <b>billions of humans connected</b> through mobile and fixed networks, the challenge is now shifting to <b>connecting our things</b>, any thing, in a meaningful way. This is what Big Data, enabled by Machine to Machine connectivity, is all about:</span></div>
<div style="text-align: left;">
</div>
<ul>
<li style="text-align: left;"><span style="font-family: Arial, sans-serif;"><b>making sense</b> of all bits of knowledge acquired in real time, digested, processed, retrieved, understood through Analytics. </span></li>
<li style="text-align: left;"><span style="font-family: Arial, sans-serif;"><b>building a decision</b> and action process, based on the result of this analysis.</span></li>
<li style="text-align: left;"><span style="font-family: Arial, sans-serif;"><b>feeding back</b> commands or actions to the real-world.</span></li>
</ul>
<br />
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;"><br /></span></div>
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;"><br /></span></div>
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;"><br /></span></div>
<span style="font-family: Arial, sans-serif;"></span><br />
<div style="text-align: left;">
<span style="font-family: Arial, sans-serif;">My book <b>"Big Data, Driving Decisions</b>" will take you through <b>use cases, technologies, economics</b> of big data, at the cross-roads of <b>society and business. </b></span><br />
<span style="font-family: Arial, sans-serif;">It is available on<b> Amazon/Kindle Editions.</b></span></div>
</div>
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<a href="http://www.amazon.co.uk/Big-Data-Driving-Decisions-Technology-ebook/dp/B00JTKGM2C" rel="nofollow" target="_blank"><img alt=" Big Data, Driving Deicisions, "THE book"" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_7HDxnF_tRiWn10XDQp-F0Atvj-S59o7BCgGGThW3MbPYt0yG5YS-rjdd4SsWwidWye2d3w9sXpEj0e1rGuRtckWKC88dQPxBIexEdVchymIghmIazYW0FZYAPjGj39OSkfOj2N_bhL42/s1600/Big+Data+Driving+Decisions-book-cover.jpg" height="640" width="442" /></a></div>
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Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0tag:blogger.com,1999:blog-3054673732750432174.post-38250174635579028202014-03-13T07:54:00.000-07:002014-11-25T13:22:08.491-08:00This is a blog on data economics<div style="text-align: center;">
</div>
<div style="text-align: left;">
<span style="font-size: x-large;"><br /></span></div>
<span style="background-color: white; font-size: x-large;"></span><br />
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<div style="text-align: left;">
<span style="background-color: white;"><br /></span></div>
<span style="background-color: white;">
<div style="text-align: left;">
<b>1) Because Big Data matters</b><br />
<b><br /></b>
<b>2) Because Economists have not yet fully addressed Big Data, </b><br />
<b><br /></b>
<b>3) Economics of Data fuelling Big Data Operations</b><br />
<b><br /></b>
<b>4) Demand - Supply of Source Data</b><br />
<b><br /></b>
<b>5) Economic Mechanisms</b><br />
<b><br /></b>
<b>6) Source Data Market Places</b></div>
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Anonymoushttp://www.blogger.com/profile/00583318020258857522noreply@blogger.com0