Driving Data
What is Driving Data?
The increase of connected and autonomous vehicles is generating enormous amounts of driving data. As the automotive industry shifts towards providing disruptive, practical, yet enjoyable technologies that step up the game for drivers, it’s becoming important for the drivers to know what their data is worth, and how the industry can pursue them in order to improve the metrics and analytics on driving trends.
In the automotive industry, driving data is basically seen as a result of a combination of Big Data, IoT, and Analytics, which is encouraging the industry to get to the next level. After all, the hype about autonomous cars won’t be realized without a large sum of driving data and as providers, therefore we must acknowledge how the data can be valued and exchanged.
Why is Driving Data Valuable?
As we connect our driving data with other domains of life, it’s important to discover what values and benefits the data we provide and consume, hold. Simply, there are 4 areas for customers in the increased use of driving data: safety, better time management, convenience, and increased cost-efficiency in addition to all the social benefits of driving data usage.
Therefore, the data generated in the process of driving definitely has value for businesses. Whether it’s vehicle data, location data, or driver and passenger data – all of these can be exchanged for services and features that can give benefits back to the customers in different areas as mentioned above.
Rise of Concerns about Privacy and Sensitive Data
As major concerns around personal and sensitive data and privacy arise, businesses are prioritizing the handling of data in order to protect their data providers, customers, and their own reputation. The larger the data, the bigger the benefits: however, there’s no regulation set specifically for driving data just yet.
Various legal issues must be addressed and clarified in order to enable both connected and autonomous driving in a safe and trusted environment. Since the term ‘personal data’ is defined and understood in a broad way, it is critical to apply anonymization and pseudonymization in the driving data market. In detail, the encryption solutions, the basis of smart car security, in vehicles is considered as a way of excluding the applicability of data protection law, for now.
Can I Also Provide My Driving Data and Get Rewarded?
Drivers are able to share their driving data values to certain platforms in order to benefit from sharing the data. AMO is a secure platform for automotive data exchange and valuation, designed to fuel innovation and benefit-sharing in the transportation industry. As a data provider, you can establish ownership over your own driving data and allow it to be traded anonymously for fair compensation. Protecting your identity must be prioritized here, therefore, the platform AMO can be your ultimate option to gain values, enjoy benefits, and get rewarded.
Once your driving data is provided, the consumers in the open marketplace will benefit from your rich and insightful data on behavior to optimize future business and service developments. This can also give advantages to society via your contribution to improving road safety and solving congestion for a sustainable future, whilst enjoying new mobility services designed to enhance your experiences on the road and beyond.