There have been talks, webinars, podcasts, and articles about the current industrial revolution, where data gathered is been used to transform and drive our economy. The way we live, work and relate with the society is been affected by data. Now the question is what actually is DATA?
DATA, what it is?
Data is a set of information that is been acted on by a
computer to produce new set of information, also” In
general, data is any set of characters that is gathered and translated for some purpose,
usually analysis. If data is not put into context, it doesn't do anything to a
human or computer.”
There are multiple types
of data. For the sake of our article we will keep our list to the following:
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Boolean (True, False)
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Text
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Number
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Picture
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Video
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Sound
These data are been stored in a computer storage, and
it is a series of segmented information been given to a computer in a value of
one or zero. Data is been process by the CPU, which uses logical operations to
produce new data.
Data is the collection of details which could be fact or fiction, and processed into readable information for users. With Smartphone and other devices, data is also used in describing any information transmitted over the internet.
Examples of data we are familiar with are:
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Name
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Date of Birth
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Gender
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Location
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Interest
These pieces of information are mostly collected by organization
through a form of registration or subscription.
Data Acquisition
Acquisition of data is done by the development of software
where users are ask to fill in some field with necessary information to enable
the software serve them better, and also the acceptance of “Cookies” on visited
website.
Data Acquisition is “generally
accepted to be distinct from earlier forms of recording to tape recorders or
paper charts. Unlike those methods, the signals are converted from the analog
domain to the digital domain and then recorded to a digital medium such as ROM,
flash media, or hard disk drives.” Likewise, User data are collected and stored
in cloud.
Like we did mention about software and users accepting
cookies on visited website, this is a different form of data collection and
storage. It’s no news that attracting
new customers is a primary business goal for business organization, but with a
competitive market, and increasing digital involvement, there is no doubt to
how challenging this could be for organizations.
“Overcoming that challenge offers a significant reward,
though. Research shows that increasing retention rates by just 5% can increase
profits anywhere from 25% to a whopping 95%.”
The method of closing this gap; getting news customers is done with Data. It plays a role in almost every approach to acquisition of market and can help obtain new customers. The benefit of data is about identifying patterns and trends in behavior, particularly those that indicate a substantial likelihood of a person converting to our business.
Data helps us understand those patterns and trends.
Understanding our existing customers can help us understand potential
customers, and appealing to our potential customers with the data they provide,
such as previous purchases and search queries, can better our chances of
conversion or acquisition. We can personalize our advertisements and market
directly to the customer, providing a competitive edge.
Data Protection and Privacy
Data breaches cause tremendous problems, not only for
the company affected, but also for its customer. Depending on the company,
stolen data can range from relatively information to extremely personal
details. But in any case, a breach can cost a lot of money for remediation and
cause significant damage to a company’s image.
The act of protecting assets from unauthorized users
and defining who has authorize access to users data, is what can be define as
Data Protection and Privacy. The difference between this two words are purely
technology related, Data protection is a technology tool design and develop for
the protection of users data, while Data privacy is more of a process or
legal matter.
We think of user data as a piece of information that
doesn’t have to be stolen or misused for an inappropriate purpose so as a
result we develop a mechanism to enforce the process of securing user data from
an unauthorized person.
Vikram Joshi said “The
important distinction people should know about data privacy and data protection
is who controls which part. Data privacy controls are mostly given to users.
Users can usually control which data is shared with whom. Data protection is
mostly a company’s responsibility. Companies basically need to make sure that
the level of privacy their users have set is implemented and data is protected”
This brings us to where we ask, do you read privacy
policy? If no start reading.
Why Read Data Privacy Policies
There is a stipulated law that demands that all
organization should communicate to users why and what, before harvesting the
data.
The following are reason why users should read privacy
policy:
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Because it is stipulated by law.
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It give us complete understand of the data
will share with third-party.
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It gives us control over our data.
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Let us know how safe and secure our data are
with the organization.
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Build trust between users and organization.
These and many other reason are while we need to read and
understand the protection and privacy policy of organizations
Thanks for reading, it cost nothing to share love, and
smile so likewise sharing this piece of information will go a long way of
showing how much you love the society.
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