1 We have known for a long time that companies buy and sell our data. a Provide
ID: 3743569 • Letter: 1
Question
1 We have known for a long time that companies buy and sell our data.
a Provide at least 3 examples of data that you are confident a company (state the company name) may be collecting on you.
b What do you think they are doing with this information?
c Do you think it is ethical?
2 What is the purpose of historical data and the role it plays in organizational decisions?
a Describe a situation from your personal experience or from a business journal/website where historical data impacted decisions, whether it was for the best or worst.
Explanation / Answer
a Provide at least 3 examples of data that you are confident a company (state the company name) may be collecting on you.
1. Nielsen is a pioneer in collecting the data for market research and ratings. It collects data on consumers in many countries. It's collect data using internet, providers and from trusted external third parties.
2. Google is a pioneer in a search engine. There are multiple Google products which include Google Search, Maps, Assistant, Android, News, Hotel Finder, Finance, Google books etc. Google doesn't buy the data but gets the right to use data from the external trusted sources. It also collects data from multiple Google products.
3. Facebook is one of the most widely used social networking websites. We provided some information about our interests, basic information, places, workplace etc. In addition to this, it collects data based on our friends, our likes or dislikes etc.
b What do you think they are doing with this information?
They are efficiently using this data to form a business strategy and to increase the business sales. There is a saying that instead of reaching out to the person who doesn't want to buy something, reach to the person who will buy it. How will you know the person will buy a particular product or not? It is you should know your customer. How will you know your customer? It is based on the customer's data. The information collected will be used for person based notifications, forming a business strategy in a particular place etc.
c Do you think it is ethical?
Many companies claim that they do not share the details with others. But, we see the items we search in "Amazon" and do not buy but when we use Facebook we get ads related to the products we were searching in Amazon with discounts. Our privacy becomes a question now. It is ethical to use the data if permission is granted by the customer and they do not sell our data to other companies without our permission.
2 What are the purpose of historical data and the role it plays in organizational decisions?
Describe a situation from your personal experience or from a business journal/website where historical data impacted decisions, whether it was for the best or worst.
The historical data plays a very important role in organizational decision making and business strategy. Assume that one popular company wanted to establish it's branch in a particular place. The customer's demographics, living culture, potential earning capacity, customer's desires etc must be analyzed before setting up the company in that particular place. If it is not analyzed, the company would end up in the loss. However, using only historical data might not be of much use in the success of an organization. Because the trend of data might change over a period of time. The current real-time data also should be analyzed along with historical data to make business decisions stronger.
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