Do I need midata with a bank statement and a wife?

Midata is the government's open data agenda. The plan is that all sorts of companies will make their data available, and then other firms will help consumers to manage it and build useful applications and services on the back of it.

This will mean that data held by say credit reference agencies will be available free to view. Callcredit is promising that every consumer will be able to look at their file for free for life, in a radical change to its business model.

Energy companies will make its customers' annual energy consumption data more easily accessible to make the process of switching suppliers easier.

Banks will be able to merge all transaction data so consumers can see where they have spent their money over the course of a year.

The obvious question that arises is data security, how secure is the data going to be.

At present I am struggling to see what the benefits would be to me, apparently over time midata will give me increasing access to my personal data in a portable, electronic format. I will then be able to use this data ‘to gain insights into my own behaviour, make more informed choices about products and services, and manage my life more efficiently’.

I have a mirror, bank statement and a wife, am I missing something, do I need any more data to gain insight into my behaviour.