By John A. Deighton* Data, says Professor Lawrence Summers, is the new oil, “a hugely valuable asset essential to economic life.” Personal data, the kind of data that invites thoughts of privacy, is a big part of that “hugely valuable asset.” My colleague Peter Johnson and I recently estimated that marketers paid about $200 billion in 2014 for services that relied on personal data. That’s probably between 10% and 20% of all the money spent on marketing in the US, and it is growing at double …
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