Settlement and Consumer Trust- Adapting to Data

Settlement and Consumer Trust- Adapting to Data

This week in data, there were some large-scale money squabbles over data and all because of data security. Data breaches have unfortunately become frequent headliners and the public finds it increasingly worrisome. It’s apparent that while the technology to collect data has evolved, security has not and that puts us all at risk

Settling on data breaches

Equifax and Facebook are no strangers to data, particularly data breaches. By now, you know just how valuable data is, especially personal information. Which is why both companies have been ordered to pay settlement fees. As a credit reporting bureau, Equifax has had less than stellar performance in the cyber security department. Despite having suffered two breaches, Equifax did not immediately disclose the information to the public and subsequent attempts to verify victims were marked by phishy domains.  On the same note, Facebook didn’t have people’s financial statements, but it had a treasure trove of behavioral data that’s certainly worth its weight in gold to third parties. The attack was marked by three vulnerabilities that hackers took advantage of. 

Despite all this, privacy violations don’t seem to go hand in hand with accountability, which has left many people worried about their data. In a booming digital tech era, why isn’t data security taken seriously?

Consumer privacy

Any business that uses digital marketing will just how much data is collected. After a number of data breaches that made headlines, it’s apparent we need more government No matter what consumers want, corporations will probably continue to glean intimate consumer data for analytics.  The federal government is taking too long and consumers don’t feel safeSo local governments have been taking matters into their own hands. A number of states have expanded local breach notification laws in order to alert the public as soon 

Can we be in control of our own data in the future? What does that mean for companies, consumers, and data analytics?


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