A few weeks ago, I was sitting in my Business Ethics class for a guest lecture, wondering about what I had just heard. The slide was titled, “ I am an Advertiser, you can trust me!” It got me thinking about the ways in which consumers are being manipulated. But then it got me thinking if the advertisers or companies who collect data on their consumers are to be blamed or are the consumers who blindly agree to share their data without understanding the consequences are to be blamed? I decided to further explore this topic and do my assignment on it. I decided to explore Big Data and Privacy.
Big Data is a buzzword these days and there is no denying that the technology has helped industries cater to the basic needs of their consumers through customisation. I came across the word Big Data years ago in some news article. But I did not completely understand it until my Digital Transformation of Businesses class. It was only then, did I actually understand what Big Data is. The size or type of data collected is not the only distinguishable feature, it is the insight that this data provides that makes it special. These insights can be used for any commercial purpose, for example, the business model of Uber is based on Big Data, Uber does not own the cars that are rented but it owns the network of those car owners and drivers and thousands of customers who are willing to rent those cars. Big Data became a buzzword because it gave businesses the power to make valuable strategic decisions based on it. It has introduced new horizons for businesses, some organisations choose to be data users, some become data facilitators and yet others choose to be data suppliers.
But going back to the initial question, what about the consumers’ privacy? Is that the priority of organisations? There are laws and then there are ethics. Following laws does not imply that organisations are being ethical. Facebook complies with all the regulations yet Cambridge Analytica happened but it is not just Facebook’s fault, it is also the responsibility of consumers to be equally vigilant, to read the consent forms before blindly agreeing to the terms, to have different passwords for different accounts and to have strong passwords. I know it is difficult to have different passwords but there are so many applications these days which remember those passwords for their users. There is always a solution if we are willing to find it. It is also the fault of the lawmakers to not have kept up with the fast-paced technological advancements. The privacy laws and regulations are still archaic in most non-EU countries. Finally, I would just like to say that no regulation can prevent invasion of privacy in this hyper-connected world unless we are careful. So be vigilant and protect your privacy, because no one else can!