The dark side of big data

There are many challenges associated with big data, such as the lack of transparency, the potential for data privacy, and the need for more data protection. During my work with business leaders to help them develop their data strategies, one of the most important factors in their thinking is their technology skills. Many business leaders think the advantages of big data are so obvious that they can't even grasp it in the face of the challenges. The new technology is referred to as BDaaS, meaning businesses can access great data tools without having to invest in expensive infrastructure or new hires.

As pegs of data and analytics tools get more advanced, the hope is for technology, infrastructure and skills to become less of a daunting barrier for working with the data.

Data security is a challenge that business leaders knows as one of the most important issues in the future of big data, and with good reason. Since data is becoming an increasingly critical business asset, protecting it, particularly personal data, becomes even more vital in today's world. Which are just a few examples of why businesses need robust data security policies in place and the steps they can take to educate employees about potential threats.

Most businesses though, are all aware of this need, however some of us are less aware of the darker side of this need for data, especially in the context of business.

One Pitfall That Doesn’T Get The Recognition It Deserves

In my experience, too many businesses downplay one threat to the business of online commerce, especially in the digital age, and that's a big problem. But the threat is not only about data privacy, it's also about the privacy of your employees, customers, and even your own employees. For many years, there has been a lot of talk about the dangers of companies playing fast and loose with privacy, both in terms of privacy and data privacy.

For some of the past news, I thought about the human analysts listening to people's private Alexa conversations. It is true, Amazon maintains the vital practice to improve Alexa's abilities. But the fact remains for most people that others may be hearing their Alexa recordings, and the not - so - insignificant detail is buried in the privacy policy that few people read about. Amazon wisely offered an opt - out option, but consumer outrage ensued, and Amazon's response to the outcry - and the subsequent legal action - has been largely muted. This is the latest in a long line of examples of companies taking liberties with people's data, and it's not even the first.

In addition to the app's data collection, it also demands access to your phone contacts, even if you're not in contact with the person you are contacting. Twitter, a social media site that uses facial recognition technology to "friend" all your friends without you realizing it. Companies reserve the right to share your personal details with interested third parties, even if they're not your friends.

But there is no doubt like regulators are catching up on the issue - the introduction of the European Union's GDPR shows the data privacy laws have started to tighten and will continue to do so. I believe it's up to companies to forge an ethical and responsible approach to data privacy, not just for their employees, but for the entire world.

But it must also recognize individual rights to privacy, with respect to data collection, processing, and storage, as well as the right to free speech. As we have seen in the past, this approach has been abbed by the U.S. government's own government agencies and the Federal Bureau of Investigation.

The truth is, the majority of us are ready to part with our most valuable data when we are willing and able to get something helpful in return. But plenty of Alexa users wouldn't mind using their recordings to improve Alexa's service if they knew it was being used for the purposes they're signed up for, even if you can opt them out at that point. But when customers can't make informed choices, and when they cannot make informed decisions, when problems can occur, that's a problem for the company. Bad news are always fast to spread and it's always bad news for the company, the customer, or the business.

In the digital age, a company's reputation can be tarnished in seconds by a single bad press release or a few bad tweets or even a bad customer service call. Some companies don't recognize the importance of data privacy, and some do not even care about the privacy of their customers.

A More Responsible Approach To Data

Data is clearly powerful stuff, but it's also a very complex and complex thing, with many different uses and many possible uses for it. As Spider - Man fans know, great responsibility comes with a great deal of responsibility, especially for those with access to information about the world around them.

Be upfront with all of your customers and stakeholders about what data is collected and why, and how it's being collected. Do not bury information in lengthy service or product terms and conditions which you know no one will read. And do not over-bury the information with lengthy services, products, or terms of conditions you knows they will read, like a lengthy product or service agreement.

Wherever possible, offer opt - outs in a simple, straightforward way, such as in the form of a single, simple email address, or offer an opt out. Anonymise customer data so that individuals can not be identified by names, addresses, phone numbers, email addresses or other identifiers.

Make sure customers know what they're getting in return for giving their data to you, and that they know that you're giving it away.

Who is Christian Farioli?

Digital Marketing Pioneer since 2003, speaker at 50+ international conferences and trained 10000+ executives, after 17 years he cracked the strategy that made 257 companies profitable.

With the same strategy, he has been drastically cutting costs and uncovered hidden revenues for more than 1000 organisations he had the pleasure to work with.

He has been working with many CEOs from Startups to Fortune 500.

Book a free checkup with him and discover what are you missing out and how Digitally Mature your company could be within the next 6 months.