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Big Data, Big Risks and Big Data, Big Investment

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Big Data, Big Risks and Even Bigger Opportunities (cont’d)
• The purpose of collecting data is to better serve customers not
the other way around
• Consumers are becoming more aware of the value of their data
and less willing to give sensitive data for free
• To turn data annoyance into empowerment, companies should
engage users, enlist their help, give them control, and even
reward them with data / insights they like to see in return
• Getting the exact result vs. having a good set of options
• If data is presented to users directly, such as search engine,
should aim to maximize precision
• In the case of ads where the relationship between ads and your
interest is obfuscated, can compromise on precision to achieve
broader optionality
Customers Come First, Data Second
Tradeoff between Precision & Optionality

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