If you’ve been watching the news over the past few months , you’ve undoubtedly heard about the latest Facebook scandal, Facebook is facing international investigations into the illegal harvesting of users’ personal data. The information was collected by Cambridge Analytica, a political consulting firm that backed President Trump’s 2016 election campaign .Anyone can know about the user mindset with almost their 300 likes So Cambridge Analytica gathered data from 50 million users (a figure that Facebook has now admitted could be as high as 87 million), then developed a software program that profiled these citizens to predict voting patterns – and, through micro-targeted ads, influence US citizens’ voting decisions.
This scandal was a wake-up call for social media firms and marketers on the transparency around data collection and users’ changing attitude towards data collection methods.
1.Data collection policies will undergo a change: Social media companies will have to ensure that data collected is real and genuine. As marketers refine and improve their way of data collection, marketers will also have to ensure that data doesn’t become public.
2.Data privacy will come to the fore: As companies will evolve new ways to find relevant user data, companies will also become doubly sure about data breaches. Often, social media companies known for promoting fake profiles will find themselves in trouble and face loss of public trust and suffer reputational damage.
3.Data Safety will become crucial: Companies storing data on the cloud would also step up security to prevent leak or breach of data.
4.Informed Consent from users : Given how governments across the world are tightening data privacy rules and paving the way for informed consent . So marketers and brands who want to collect individual data will have to seek explicit permission from users.
5.Facebook and Google will make data more restrictive: Given the public outrage over the recent data breach, social media giants Facebook and Google could restrict the data they make available to marketers for the ad campaigns. This implies that social media companies and brands will have to work doubly harder to find the right data.
Brands that have been associated with Facebook and Instagram will become more aware about privacy breaches that could end up in a PR nightmare. Or companies that find novel ways of collecting and analyzing online data may find themselves in a great deal of trouble when their methods become public knowledge. With stricter policies coming into force, marketers would change the way consumer data is accessed and used. Perhaps less data will become more relevant to brands. Industry experts believe brands and marketers can improve their customer experience when they harvest the right data.