Data Collection in Commerce

Research Statement

This report will analyze both the uses and risks of personal data in big corporations.

Purpose

The purpose of this research document is to explore the reasons as to why big companies use personal data, what the data is used for, and the amount of data that is inadvertently taken from consumers.

Background and Significance

Big Data has taken a huge role in art in creating today’s Technological Revolution. It is a phrase coined to describe the exponential volume of data we currently hold. Data is collected from a number of sources including cell phones, applications, databases, servers, etc. In return, it can then be used to find trends, patterns, and connections specifically related to how humans behave along with their interactions. This information includes likes, dislikes, preferences, and search and buyer history and is not limited to personal data such as birthdate, social security number, home address and much more. Corporations across the globe have found new ways to use this data in everyday business functions.

Collection of Big Data can be used to a company’s advantage in marketing, finance, and Government. Despite the fact that in a few situations Big Data can be hard to control, it can possibly enable organizations to enhance tasks and make quicker, savvier choices. This information is gathered, organized, controlled, put away and examined, can enable an organization to increase helpful knowledge to expand profit margins, obtain clients and enhance activities. Big Data can help marketing companies collect historical information and use it to their advantage. Past data can help predict who will respond to certain campaigns, allowing marketers to target certain customers for profit. For example, Neil Pat