Consumer data analytics: An opportunity Turning into a Threat
Right to Privacy falls under the Right to life and personal liberty under Article 21 of the Indian Constitution. It falls under the Fundamental right of Right to Freedom (Article 19-22). When any of the Fundamental rights are violated it possesses a threat to the intellectual, moral, and spiritual development of citizens of India. Privacy rights have been a topic of debate and concern for most of us especially in the digital space since the advancement of technology.
Digital space is time-efficient and convenient and that is the reason why the world has shifted from a physical space to a digital space. The world could still function even after the advent of Covid 19 because of the technological advancement in the last 10 years and we have become more dependent on it since the lockdown in March 2020. This dependence on technology made data privacy even more necessary since it’s very vital for the protection of the individual since private information is being exchanged through various digital platforms.
Data Analytics, the most google word potentially after the covid 19 vaccine updates and news because as they say information is the new gold as it is the key to control the source of the information or the subject of the information and manipulate according to our own needs and data analytics is a tool for it. Data is like a raw form of information and analyzing it gives us information such as consumer behavioral patterns. At the end of the day, we are consumers and we are consuming most of the things starting from content to toothpaste everything is consumed by us, and therefore when and how to provide us with the thing we want is the main objective of the business. Customer analytics is a process by which data from customer behavior is used to help make key business decisions by using predictive analytics and other widely used processes. It is an excellent tool but till the point when the business does not pass the fine line of data collection versus data cease. Analytics is thus used widely in researching consumer behavior and this is the reason why after searching for pages or random emails or messages with a similar type of product but better deals etc. This immediately feels like someone is watching you all day although we expect it to some extent when based on a WhatsApp private chat or a status we are being recommended something in your browser ad section or messages it means your personal space is being evaded. It was just a speculation a few days back until now when WhatsApp itself asking us to sell our information to Facebook-owned businesses trying to hide under the blanket of transparency.
Recently, I and my friend were having a conversation about quarantining, stress, and weight gain and how we should do something to lose weight, and after few minutes I got a message from her stating how she just got a message regarding weight loss program in her inbox. Coincidence , I don’t think so.
The customer analytics market is valued at near to 4 billion USD as of 2019 and is predicted to be 10 billion USD by 2025 since it proves to be beneficial for the organization and is cost-efficient and saves resources . Well, there is no specific legislation available in our constitution but amendment made in IT Act 2000 under Section 43A and Section 72A of the IT gives a right to compensation for improper disclosure of personal information and its corresponding Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 (“the IT Rules”).Personal Data Protection legislation is still pending which if passed will provide another direct sort of relief for the consumer who is in dire need for this protection.