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Business Lessons on Privacy and Data Mining

BIG DATA

November 4, 2013

Computerworld reports on the privacy issues surrounding data mining and how including ethical standards with mining can help bolster trust with consumers and help a company’s brand. One digital strategist said, “The values that you infuse into your data-handling practices can have some very real-world consequences.” The article provides a number of examples of companies getting into trouble because of their data-mining practices, but also provides another positive example. Data analytics firm Retention Science uses predictive algorithms and aggregated data to help better target consumers but refuses to share data across clients or third parties. The company also says its data scientists are not allowed to use or share collected data for their own research or publications. A representative from the company said it “works only with businesses that are fully committed to getting their consumers’ consent in advance to use their data.”
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