How is Bid Data Legal
How is Bid Data Legal?
Since Big Data first became a major topic of discussion, I never understood how such a thing can be legal. Taking someone’s personal information and selling it or holding onto it seems wrong in every aspect in my opinion. Even the option for companies to ask to hold onto data is something that I do not think should even be allowed. It only leads to negative impacts and deeper pockets for large corporations. You are telling me that companies need that information to better serve us and understand what we want better? I do not believe that for once second nor do I think the benefits outweigh the downfalls by any means.
I think that Big Data should be stopped in every sense. Furthermore, I know this is impractical but would it really be that bad for this to be deemed illegal? For us consumers I don’t think we would be impacted a measurable amount. How can you see this type of action being legal and what major positive impact is the result for us consumers?
Because the benefits exceed the drawbacks
Dear Brandon,
I think that you are focusing rigorously on the dark side of Big Data (as seen with your cited source). As a business student and potential business leader, would you opt-out of using big data and not to try to understand the attitudes of consumers better? Big Data was not solely made to be the” bad guy.” Recalling what we read in The Future is Faster than you Think Big Data chapter, UPS used big data to optimize delivery routes saving $50 million. Again as a potential business manager, wouldn’t you do the same? Moreover, customer satisfaction rose because delivery times were now faster and more efficient. Too often, managers miss out on opportunities within their respective fields because they feel something is wrong, even when the law gives them the green light. Recalling what we read about Netflix and how it gathers individual’s data, they use it to recommend series and movies for specific individuals, strengthening consumer satisfaction and overall value proposition. If I haven’t convinced you up to this point, then please read on.
Numerous studies have shown that big data can also help small businesses. Some key findings are displayed below.
- Using big data cuts costs
- Increase efficiency
- Improves pricing strategies
- It gives potential to compete with big corporations
- Allows focus on local preferences
- Increase sales and loyalty
- Ensures you hire the right employees
As you can see, the benefits exceptionally exceed the potential drawbacks that may arise with privacy concerns. After all, I don’t mind companies selling my demographic information to other companies. In fact, I would sincerely appreciate it as marketers will be given the opportunity to target more relatable ads since I’m tired of seeing ads on T. V that are irrelevant to my interests. Overall I enjoyed reading your different perspective on this issue. Great post.
