2018
was the year which confirmed data as the most valuable asset on the planet.
With dozens of applications of data-related features within a business, the
Cambridge Analytica scandal was probably the biggest one. This scandal was
related to the illegal buying from the British company of data points which
Facebook was collecting from users without their consent. Given the impact
these had in political campaigns such as the Brexit campaign and the Trump’s
one, analysing the process is mandatory to properly assess what and why data
changed in business as a whole.
Why
Data?
Data
within the Cambridge Analytica scandal refers to the usage of data points, a
numerical value which associates preferences, keywords and more to a physical
user. What happened, in that specific scenario, was related to the fact that
data was used without the users’ consent, which is now GDPR-illegal. Data is
definitely still extremely important for remarketing purposes, but we’ll
definitely see far bigger regulations on this very matter in the nearest
future. The usage of data is extremely impactful in today’s business sphere and
it’s yet still very likely to grow in the nearest future.
Repercussions
Given
how big the buying process was from the British company, it’s quite easy to
understand why the repercussions were so big regarding this matter. The usage
of data is now strictly regulated (at least in Europe) under a specific GDPR
section which states clearly how every form of data acquisition must be
properly stated via specific notifications or warning when landing on a page.
Although this has been crystally clarified within the GDPR document,
it has been noticed how over 75{c0db89a0a56f328ad3923d2ec68af8059ad7b4f5cae5d2583012e2c1816a3155} of the sites are not still updated aligning
with this GDPR rule.
The
Future
Some commercial property management companies
(specifically, a company which focuses on compulsory purchase order processes), have
stated how impactful the usage of certain data features have become, mentioning
how clients now are actively looking to implement detailed data acquisition
features to optimise their architectures. With this being said, it’s quite easy
to understand how the overall future of data is moving towards real estate and
finance as a whole.
To
Conclude
The
Cambridge Analytica scandal will be remembered in the future as something which
has changed the world of technology forever. It’s relatively important to keep
this in mind for future technology trends, as chances that this same scenario
will happen again are pretty high.
