Balancing Human Data Intelligence and Consumer Trust
Data on consumers—Human Data—is a prized asset in today’s marketplace. All those clicks, thoughts, and opinions spinning around in social media, blogs, and websites are the crude oil that, once refined, fuels business decisions, grows revenues and can create a better customer experience. However, consumers are becoming increasingly aware of, and increasingly uneasy with, this relationship. This in turn is prompting many social networks to tighten up their terms of service and many governments to look at increased legislation.
Companies ignore data privacy at their peril: failure to understand how the laws affect personal data assets can result in damage to brand reputation, loss of revenue and potential litigation. Organizations that adopt a privacy-first approach are best placed to avoid what could be expensive and damaging situations later on.
This DataSift white paper examines the rise of Big Data analytics, explores consumer concerns surrounding how their data is used, and provides a framework for organizations as they process Human Data. By adopting practices that respect and protect consumer privacy, a Big Data analytics strategy can move organizations to more trusted and lucrative customer relationships.