3 ms·
Perhaps a more subtle thing for them to keep in mind: many people carry out a mix of card/online and cash transactions. Only the card/online transactions will b
by keithpeter 9y ago
Perhaps a more subtle thing for them to keep in mind: many people carry out a mix of card/online and cash transactions. Only the card/online transactions will be captured. The Panopticon's record will show an extremely unhealthy and meagre diet for me for instance because I buy fresh fruit/veg at markets - cash only.
It strikes me that data censored through transaction modality and then used to make marketing decisions may result in poor results.
- eternalban 9y agoThe Panopticon central says 'cash is going bye bye sunshine'.
- keithpeter 9y agohttp://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2015/q3prerelease_1.pdf http://www.bankofengland.co.uk/publications/Documents/quarte... Cash will be around for a fair time yet, but you have a point for any form of regular or recurrent expenditure. As the above pdf explains 'hoarding' of notes as a store of value seems strangely popular...
- bbcbasic 9y agoIf they can still make predictions based on a partial dataset it's better than nothing and probably profitable to use. Chuck some linear regression or similar at it.
- TeMPOraL 9y agoAlso in this particular example, they could probably compute that your junk food shopping doesn't account for your daily calories intake.