The Numerati: Good or Bad?

The introductory chapter from the The Numerati has left me split on this concept. The author describes The Numerati in a type of cynical tone, implying they are a rich underground group that has the ability to harvest the data from our every move and use that information to market products to us. I would be interested to read his book because this is a concept that affects everyone, whether we recognize it or not.

The question we need to ask ourselves as consumers is whether this is a positive development. I actually see arguments on both sides. On one side of the debate is the argument that we always have the free will to choose if we want a product or not. Of course we can see targeted advertising all day long, but if we do not want the product then we will not be forced to purchase it. For example, when I changed my facebook status after I got engaged, I received a ton of advertisements for wedding related goods. They were a nuisance, but since I was not interested in any of those products I did not buy the services. It was annoying, but it was no more than an annoyance. I still have the independence and free will as a consumer to choose what I dedicate my resources to.

On the other side of the debate is the argument about privacy. If cookies are installed on our computers without us knowing, and if companies are allowed to harvest our information without telling us they are doing so, where do we draw the line? As I was reading the chapter I thought of the current controversy as the NSA leaks have revealed the government has been harvesting our phone records. Whether you support this or not, it does beg the question: how much information will they take from individuals before stopping for privacy reasons? Will this evolve to a point where companies can have information on you that you truly feel uncomfortable with them having?

 While I understand both sides, I currently fall into the first category of people who see the value in using this data, as long as it is only used to a certain point. As the chapter says, “we are being quantified.” No one wants to think of themselves as simply a number, thrown in with billions of other numbers to find a marketing pattern. However, this is the direction marketing has been going for decades and it has allowed customers, conversely, to be treated more as individuals. This, I think, is fascinating. We may just be a number when it comes to the data we provide, but that data allows marketers to target us with products or services we may actually want. While I think there must be a logical limit to this information (for example, as nice as it would be for impartial computers to replace loan offices, being able to recognize subtle human behavior and individual traits is critical), for now it can be used as a positive development for both marketers and consumers.