Data which can track our psychological behavior is "something very powerful" and could be the key to tackling unhealthy habits, according to the CEO of a fitness app.
British firm Earthmiles incorporates elements of the Quantified Self, a movement that aims to use the data acquired from aspects of an individual`s daily life – from what they eat to their state of mind – to inform them more about their daily habits.
"At the core of Earthmiles is a kind of psychological engine that helps you make healthier choices," Earthmiles CEO and Co-Founder Megha Prakash told CNBC`s "Squawk Box" on Friday.
The app rewards customers with discounts and other offers with each mile of activity they undertake.
But Prakash added: "Financial rewards is just a part of it; it actually works on many different levels. For the consumer it`s this fun, feel-good platform where, as you work out, earns earth miles the way you would earn air miles if you flew, and then with that you can earn rewards."
She said that collected data, when processed into information, could help consumers form healthier lifestyle choices.
"This is actually combined with several quite powerful tools like the Quantified Self movement which, as you know, helps us become more aware of activities, and thereby improve information broken down into the form of smaller, healthier lifestyle choices; and underlying all of it, the behavioral psychological cues which are emotional, social, financial, (and) which ultimately results in positive behaviors.
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