Isiah Prosper
The
Even Spookier Side of Data Analytics
Government intelligence
agencies are some of the biggest buyers of low-cost technology to track users'
moves on the Internet
Businesses today need
to have an aggressive edge with their strategies regarding products and
services, but they also need to be competitive in hiring the finest personnel. A
growing number of well-known businesses, such as Amazon.com, Capital One, Proctor
& Gamble and Best Buy, are using analytics for increasing the speed of product
improvement, classify customers that are the most lucrative, reach the greatest
pricing for supplies, and using the best employees for the business to reach
its goals.
Data storage became
easier as the availability of large amounts of computing power at low cost is
the cost of processing power and storage is falling, made data cheap. More
businesses are using analytics to make this happen. Over the past two decades companies
have been using complex databases causing remarkable increases in the amount of
information/ data being stored in electronic format. It has been estimated that
the amount of information in the world doubles every couple of months, in size,
and number of databases are increasing even faster. The number of businesses
increasing their usage of analytics for decision-making continues to grow. All
the improvements in statistical marketing strategies are pretty amazing, but
unfortunately have a slew of ethical issues. Do I think they have been doing a
great job with all of these technological advances? Yes, but they seriously
need to consider certain personal information as private to stay private.
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