What Wearables Reveal About Ourselves

Next, we continue our series highlighting 10 innovations driving global business and communication trends, as identified by the Vizeum Innovation Team.

With the proliferation of wearable devices, vast amounts of data have been generated and measured in recent years. From steps taken to heart rate and brain waves, devices exist to track nearly everything measurable. Technology continues to advance, and wearable device adoption rates are projected to double over the next two years.

In 2016, users will gain a deeper understanding of how the data they generate is measured and what benefits it brings them. The data delivers not just self-quantification, but self-understanding itself.

Companies are learning how to leverage diverse data—from loyalty programs to apps—to deliver real-time value to consumers. New platforms like Powr of You (image above) are emerging, empowering users to grasp their personal data and its value.

Earthmiles is a program that allows users to earn points for leading a healthy lifestyle, much like accumulating miles every time you fly. Users can manage their health status and nutritional intake all in one place via the app's dashboard, and various rewards are granted based on the points earned.

The increasingly common automotive black box was the first device enabling drivers to collect driving data to lower insurance premiums. Aviva took this further with its Aviva Drive app. It measures driving behavior in real time, leading to reduced premiums and rewards.

What will 2016 bring?

Many companies will focus more intensely on improving the transparency of their data policies and on helping consumers understand how their data contributes to better products and services. Additionally, the development of reward programs utilizing publicly available open data will increase. As consumers experience how their data improves services and advertising, their resistance to having their behavior tracked will likely diminish.