What is Human Data & Why it's So Important?

What is Human Data & Why It’s So Important?

Human Data Definition

Human data is a broad and encompassing term that can be used to describe all kinds of non-numerical, unstructured data sets. Since it comes from online surveys and social media posts, human data can say something about your personality or any other information you have provided in these surveys. However, there are some limitations related to analyzing human data with big data technology.

Types of Human Data

• Shared Data: Data created by a group of people. The clearest example of this is the data produced by the household. Unfortunately, the growth of smart home devices such as smart meters, thermostats, and home voice assistants has lagged behind in considering how this data might be used for smarter cities or urban planning. However, data about how we co-exist in different social groups within a city are extremely important yet largely forgotten about. This is due to the fact it`s less difficult to use the individual as a single unit of analysis.

• Processed Algorithmic Data: In a world where we are constantly monitored, our behavior becomes data and through an algorithm, this data can be used by other parties to predict how we might behave in the future. For example, your credit score is a form of trust score that is syndicated by a credit reference agency. They analyze your financial history with financial institutions and provide you with a score based on several criteria, including payment history and debt level. Your credit score determines the type of financial products you will be eligible for in the future (e.g. loan).

• Open Data: By providing open data, we enable you to make your city more prosperous, equitable, and sustainable. Open Data is anonymous and aggregated but provides a lot of insights into where people live and work, how they are distributed over the city, which cultural groups they belong to, what language they speak at home (if any), and much more. This helps you better understand your environment. For example, without this data, it would not be possible to infer that there is an Italian speaking living in the house across the street from this one. Knowing where you fit into the world around you is as easy as plugging in your address. The open data census provides insight into your cultural diversity, socio-economic status, political leanings, and more. With this knowledge, you can be sure that any neighborhood you move to will be an ideal match for your values.

The Business Case for Human Data

Human data appears to be an obvious emphasis for a company. Retention and brand loyalty are crucial in today's business market when an online retailer doesn't earn from a customer until he or she has purchased there four times. What business wouldn't want to know its clients better than it knows itself?

The digital world, on the other hand, has a tendency to reduce persons to identifiers. People are best classified, according to one school of thinking, by "item data": what product they bought, when they bought it, where they were when they bought it, where they had it sent, and so on.

Smart firms have understood that this new reality is the way things are going to be in the future, and they've gotten ahead of the curve. Why bother with legislation that, at its most draconian level, requires you to wipe every trace of a customer's data if that capability is already built into your business model as a matter of good business practice? The ability to comply with GDPR is really just a signal that a company has a clean, quality, 360-degree view of its customers—the foundation for understanding, marketing to, and using sophisticated AI and machine learning tools to achieve rational business ends that involve them, rather than just playing with their data because they can.

Human Data for Everyone

Customers aren't the only ones who have access to "human data," which includes employees, marketers, and suppliers. Behind every program and web browser is a human engaging with another person, both of whom seek a decent balance of security and access to their data. Above all, human data is about acknowledging the fact that data has become so vital to people's livelihoods—their credit scores as well as their personalities—that it shouldn't be handled any differently.

NANO Health’s Approach To Human Data

The Pharmaceutical and life sciences business landscape is swiftly evolving. Let us support you efficiently in enduring the new obstacles you're encountering today to ensure your organization remains stable and profitable. Using established data, we deliver you insights and an advantage in bringing your products to market.

We analyze market developments and what's working—and not working—in how commercial models react. Nano Health's assets, connected with our industry expertise, functional knowledge, and consulting methodologies, have benefited many retail leaders to drive forward successfully in a shifting landscape.