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Impulse Spending with Data

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Data is ever present in the world today. Data can help predict presidential elections, Super Bowl champions, and even the weather. However, it's very hard, if not impossible, to predict

Data is ever present in the world today. Data can help predict presidential elections, Super Bowl champions, and even the weather. However, it's very hard, if not impossible, to predict how people feel unless they tell us. This is when impulse spending with data comes in handy. Companies are constantly looking for ways to get honest feedback when they are doing market research. Often, the research obtained ends up being unreliable or biased in some way. Allowing users to make impulse purchases with survey data is the answer. Companies can still gather the data that they need to do market research and customers can get more features or lives for their favorite games. It becomes a win-win for both users and companies. By adding the option to pay with information instead of money, companies can still get value out of frugal players. Established companies might not care so much about the impulse spending for purchases made in the application, however they would find a great deal of value in hearing about what customers think of their product or upcoming event. The real value from getting data from customers is the ability to train analytics models so that companies can make better predictions about consumer behavior. More accurate predictions can lead to companies being better prepared to meet the needs to the customer. Impulse spending with data provides the foundation to creating a software that can create value from all types of users regardless of whether the user is willing to spend money in the application.

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Date Created
  • 2016-12

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The Data Arms Race: Reimagining Data Transparency, Ethics and Regulations

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Data has quickly become a cornerstone of society. Across our daily lives, industry, policy, and more, we are experiencing what can only be called a “data revolution” igniting ferociously. While

Data has quickly become a cornerstone of society. Across our daily lives, industry, policy, and more, we are experiencing what can only be called a “data revolution” igniting ferociously. While data is gaining more and more importance, consumers do not fully understand the extent of its use and subsequent capitalization by companies. This paper explores the current climate relating to data security and data privacy. It aims to start a conversation regarding the culture around the sharing and collection of data. We explore aspects of data privacy in four tiers: the current cultural and social perception of data privacy, its relevance in our daily lives, its importance in society’s dialogue. Next, we look at current policy and legislature in place today, focusing primarily on Europe’s established GDPR and the incoming California Consumer Privacy Act, to see what measures are already in place and what measures need to be adopted to mold more of a culture of transparency. Next, we analyze current data privacy regulations and power of regulators like the FTC and SEC to see what tools they have at their disposal to ensure accountability in the tech industry when it comes to how our data is used. Lastly, we look at the potential act of treating and viewing data as an asset, and the implications of doing so in the scope of possible valuation and depreciation techniques. The goal of this paper is to outline initial steps to better understand and regulate data privacy and collection practices. Our goal is to bring this issue to the forefront of conversation in society, so that we may start the first step in the metaphorical marathon of data privacy, with the goal of establishing better data privacy controls and become a more data-conscious society.

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Date Created
  • 2019-05