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How companies using your details to mint money

Internet” is not using our personal data at all. The Internet is not an entity in itself and does not receive or process data.

When it comes to data, the Internet consists of approximately one million companies and a few billion users. Companies collect and process everything they can and users provide most of the data. The way the data is processed depends on the company.

Retail companies need to know which items sell best, which ones do not sell at all, how much time users spend watching before buying, where users come from, that kind of thing. Financial or payment companies (such as PayPal or your bank) must track a large amount of personal data for all kinds of reasons related to efficiency, national security and the protection against crime committed through their services.

However, social networks are where most of your personal data end. Facebook is obviously the best-known player in this area, and its actions stand out as examples of bad behavior. It is mostly true, but they are not the only company that deserves criticism.

In the end, their interactions create and maintain a dossier that has great detail of their personal life: income, friends, travel, work, interests, likes and dislikes. It is analyzed, packaged and then sold to companies that need to be able to identify very specific groups of individuals. Some want to advertise, others like Cambridge Analytica want to manipulate you through your beliefs or preferences so that you behave in a particular way. Politics or religion are perhaps the best known and can be very successful.

How do companies sell user data to make money?

Customer data can be used to perform analyzes, sales of particular products, future requirements of services and goods that the user needs, current customer requirements and to improve products through customer reviews.
The customer is the market’s centroid, every decision made is for customers and due to the growing competition in the market the more customer knowledge they need, the more growth. There are many sites that sell customer reviews customers.
The sale of data is diverse and, despite the lack of a comprehensive overview of this in the press, the data sales industry is flourishing.
Some examples of industries where sales occur:

  • Advertising: if your user data can be linked to an interest (for example, Joe likes sports), you can infer demographic/geographic information (for example, Joe lives in the OFS), it is an indication of the purchase intention (for example, Joe is looking to buy a blender) or indicates a life event (for example, Joe is about to buy a house), this data is of interest to advertising companies. In general terms, the way in which this data is evaluated is the amount of return on investment that uses this data when it is directed to a marketing campaign. An example of a company that could buy this type of information is Bluekai (now owned by Oracle).
  • Market research: Similar to advertising, market research companies generally deal with aggregate trends (for example, Joe and 1000 other people like Joe tend to buy premium brands of blenders). Here, the data is used to create reports, analysis and qualitative knowledge about the direction of an industry. Look at the online retail economy of the US state. UU. From ComScore to see a great example of market research that is presented.

There are many more examples, such as insurance, credit/loans, identity management, financial services, medical/pharmaceutical care, and more. All these industries are interested in obtaining data and all have their own specific requirements.

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