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Use Data Masking to Monetize data from Internet of Things (IoT) devices

As a product manufacturer, you need to drive value from your products and be able to demonstrate their profitability. Household appliances like washing machines, refrigerators, vacuum cleaners and lighting, smartwatches and activity trackers, medical devices and fleet and ordinary passenger vehicles, are all capable of automatically sending data to manufacturers about how their products are used. This data is valuable. It can help manufacturers understand their users better, see when, where and how their products are used. This can not only help manufacturers themselves create better products. This data could be monetized if shared in a responsible way.

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IoT Data Masking

Types of data collected by IoT devices in the home and on the street

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Smartwatches and fitness trackers can collect data on a user's daily routines, or health data such as heart rate and exercise habits.

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Smart home devices such as security cameras and thermostats can also collect data about when users are at home or out.

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We are already living in Smart Cities, where digital interconnectivity is helping to improve our quality of life by studying how people move around.

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Private cars and fleet vehicles can collect data on location, traffic conditions, or warn if a vehicle part is nearing its recommended maintenance period. In addition, personal data about who is driving and their usage habits.

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Medical devices and wearable health monitors can send sensitive patient-related information. Heart rate, blood sugar levels, etc. Can be analyzed to perform predictive analytics that can be used to save lives.

The challenge for the manufacturer

There is huge potential for data collectors and processors that want to monetize their data. Often, the main barrier to using this data is the risk of breaching Privacy laws. IoT devices frequently collect Personally Identifiable Information (PII). Some examples where PII might be collected by IoT devices include:

  • The driver of a car or fleet vehicle that is being tracked. For example, where the vehicle (and therefore the driver) has travelled.

  • Photos of people or license plates captured on dashboard cameras.

  • IP address (and therefore the details of the user) of the washing machine sending usage data.

  • The map of a user’s home (identified by IP address) made by a robot vacuum cleaner.

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Many data monetization projects don’t get developed due to Privacy concerns. PII data is under increased protection by laws such as GDPR in Europe, the California Consumer Privacy Act (CCPA), LGPD in Brazil, APPI in Japan, etc.

Data collected from IoT devices is stored in data lakes in cloud infrastructure. The amount of IoT data being shared is increasing at a huge rate. According to a Gartner study, spending on Enterprise and Automotive IoT Is expected to Increase to $762 Billion in 2030. Data shared from IoT devices will increase accordingly.

The more IoT data that is collected, the more potential for PII data to end up in a manufacturer’s possession and the greater the risk of a Privacy-related fine. The consequences could be greater if data is breached as a result of a cyber attack.

Privacy concerns impact product profitability

Manufacturers invest significantly to bring a product to market. Not taking full advantage of the data that could be collected could be seen as a missed revenue opportunity that could impact the overall profitability of a product range.

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How can manufacturers enable this data in a privacy-safe way?

Pangeanic is a leader in anonymization technology. Leaders of the EU’s MAPA Anonymization project and with clients in a wide variety of industries, Pangeanic has developed MASKER, its Data Masking tool that enables manufacturers to unleash the power of the data at their disposal, while staying Privacy-safe. Our trusted solution involves the anonymization/data masking of IoT data before it reaches the manufacturer’s data lake or cloud infrastructure.

We supply the manufacturers with sanitized data.

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How Pangeanic’s Masker solution fits into your dataflow

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  • Pangeanic’s Masker solution is multilingual, and can work for products and dataflows in any language.
  • You can reap the benefits of usage insights to improve the products themselves.
  • Masker is also multimodal, so images and video can also be anonymized.
  • Once the data has been anonymized, it can be processed and analyzed in a Privacy-safe way.
  • Manufacturers can monetize this data, which can contribute to a product’s profitability.

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Additional benefits for manufacturers

There are also promotional gains from making your data safe. Telling your customers that their personal data stays private is also a compelling sales argument that could convince a customer in the product evaluation process.

If a customer trusts your approach to data privacy, they will be more likely to share their data at the signup phase, and also throughout the life of the product, for example, sharing photos of meals they have made using their new kitchen appliances.

Begin your road to increased profitability

Pangeanic can offer a solution tailored to your needs. Talk to an expert to find out how we can make a seamless integration of Masker into your workflow.

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