Interesting article from Forbes on Google's privacy announcement and how it will drive the Personal Identity Management industry.
Personal Identity Management (PIDM), is heating up because of three factors:
- The formation of large online networks that collect data about consumers (Google, Facebook, Zynga)
- Web 2.0 technologies and trends to be open platforms creating access to that data
- Increased consumer and government awareness of privacy issues
Picture a Personal Identity Management solution as a dashboard that shows you what these big networks know about you and enable you to update or edit it where the policies allow it.
Forrester Research has put out a report: Forrester Report on Personal Identity Management
The Forrester report asserts that: the consumer will be in control of their data; that solutions will emerge that help the consumer manage that data; and ultimately those solutions will be well-positioned to control marketing relationships.
While Forrester doesn't directly say this, I would argue that legacy industrial warehouses of consumer data like credit bureaus will not be able to hop on this bandwagon. They are not able to innovate quickly enough to keep pace with changes in data, data access and policy.
For entrepreneurs this means that the field is open for start-ups around PIDM.