The Ethics of Big Data [WLO: 1] [CLOs: 4, 5]

Prior to beginning work on this discussion, read the following two articles: John Funk's The Ethics of Big Data: Why Marketers Should Be Careful About Consumer PrivacyLinks to an external site. and Christian Ofori-Boateng's Your Big Data Responsibility: The Rise in Data EthicsLinks to an external site..

Based on the content of these articles, respond to the following:

• Describe the microeconomic principles being used. What is driving the demand for data? What impact will regulations on the use of private data have on supply, and thus, firms?
• Evaluate the different market structures that big data benefits the least and the most from.
• While data collection may benefit the business community, discuss the concerns for consumers as big data proliferates.