Big Data privacy policy making is key

While Big Data audience analytics data collection present an enormous opportunity for companies to better understand their audiences and consumers, the collection of consumer information can be problematic if not handled properly. Every country has different regulations in the collection of data, and the use of these data to target content and advertising. Corporate policy making regarding the use of these data will be key as Big Data strategies progress among media companies.

The number of global companies gathering data for audience analytics continues to grow, according to a global study by Forbes Insights and Turn research  in September 2013.  Three out of five (59 percent) of business executives surveyed say their companies are active in collecting, analysing and acting on consumer data. Further, 42 percent said they are likely to do considerably more in the future.

Meanwhile, one-fourth (23 percent) of the executives said their companies are “middle of the road” in the collection of data and customer analytics, followed by 18 percent inactive, including 6 percent inactive by choice.