In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Personal Data is worth a lot of money, but nobody knows exactly how much. A Medium post by Wibson gave a figure of $240 a year per person which is good, but at odds with Opiria’s estimate of $5,000 a year.
Wibson’s estimate is only based on advertising data, rather than specific information collected by companies. Estimates for Big Data are a little lower; its value was estimated at $125 billion in 2015 by Forbes.
There are also serious doubts about the conventional wisdom that digital advertising is the best means of reaching customers. Last year, Proctor & Gamble (NYSE: PG) cut its digital advertising spending by $200 million because that medium simply was not working, Ad Age reported. The money was reinvested in other areas such as television, e-commerce, and audio (radio).
There are two ways that newspapers like The Times and The Post might make a lot of money in today’s world.