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Data Mining

In: Business and Management

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Data Mining
1. Do you feel that data mining infringes on your privacy or is data mining a natural part of living in a technologically enabled, connected environment? You may include personal or professional examples or opinions here.
I feel that data mining infringes on everyone’s privacy, but in most aspects that I am aware of it is a natural part of living in a technologically enabled, connected environment. For the most part, I feel people are more likely to use a social device if it is the free version, rather than the $4.99 version. In using these devices, companies must make money off the free versions just as they make money on the others. All the advertising that pops up or is along the side of the application all are part of how the companies can make their money. If I were an advertiser, why would I invest my money in a social media advertisement if I was not hitting my target market? I could be throwing my money away.
I feel that although it infringes on privacy, it has become an acceptable loss for some because it makes certain aspects of their lives more convenient. I will admit that when I buy something with an online retailer I will scroll through their recommendations and see if there is anything I like. I hate the fact that they know what I like based on previous purchases, but it was my choice to take a convenient route rather than wait till I found what I needed, or wanted, in a store.
2. How do you think data mining helps consumers and organizations? Please focus your response on the organizational uses of data here.
I believe data mining helps organizations promote their product more efficiently and more precisely target their consumer base. The money spent on targeting large market groups can be costly. Store pricing is another big one. If organizations can target certain products that the consumer will buy on a regular basis, they can increase or decrease the price to suit their needs. From the consumer side of things, there is a more relatable advertisement to draw them to a certain store rather than looking everywhere for a product. Daily tasks can be lessened because more stores are targeting what you need and how to get it to you.
3. How do you think data mining harms consumers and organizations? Please focus your response on the organizational uses of data.
I think that data mining can harm consumers by increasing impulse buying and releasing sensitive information. Too often it seems to me that people focus on what society thinks they need rather than what they actually need. I like the fact that when I go to the grocery store I can get discounts on certain items because I have a shopper card. However, I do not like the fact that someone can use what I buy to figure out what I am going to buy next, have a habit of buying, or even sell that info to other companies. In a way, I guess data mining could hurt organizations if they only targeted consumers based on the information collected. They could be missing a large market they are unaware of. Data, if used in the right way, can always be helpful.

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