Prior to beginning work on this discussion, read the following two articles: John Funks The Ethics of Big Data: Why Marketers Should Be Careful About Consumer Privacy (Links to an external site.) and Christian Ofori-Boatengs Your Big Data Responsibility: The Rise in Data Ethics (Links to an external site.).
Based on the content of these articles, respond to the following:
- Describe the microeconomic principles being used. What is driving the demand for data? What impact will regulations on the use of private data have on supply, and thus, firms?
- Evaluate the different market structures that big data benefits the least and the most from.
- While data collection may benefit the business community, discuss the concerns for consumers as big data proliferates.
Your initial post should be a minimum of 300 words.
Here are the links to the required reading: