Is monetizing customer data legal?

1. Rumana Jasmeen Shaik Follow Sep 23 · 3 min read Is monetizing customer data legal? “A private life is a happy life”. But to what extent do we value our personal data privacy and leading a happy life? Every individual has their privacy concerns regarding their personal data and to what extent it should be exposed. When it comes to business, companies are spending tons of time and money on collecting and segregation of data. Is data that precious? Yes, it is. Data is such a thing which can make or break an organization in some way or the other. Because correct data leads to the proper implementation of strategic decisions which ?nally directs to right audiences. Let us have a glimpse of monetizing data: What exactly is data monetization and how e?ective is it? A company always tries to strive for excellence in every way possible. When it comes to generating revenues, there are innumerous ways to do so. But selecting the right one is a hard choice.

2. One of the best decisions is monetizing data. This would help in operating the most acceptable results in the case of customer data. But it is not that easy as it sounds. If a company is fueling more in interrogating to get best- suited data then, the chance of getting into limelight becomes easy. Data Privacy: In this universe, the independent society gives a lot of circumstances to discover themselves and to introduce it to the world. But security concerns are unhidden issues. To overcome these legal laws to privacy has been raised. Here, customer data privacy is a crucial thing to discuss. In this digital era, customers and their data are unavoidable for companies. To what extent do this data is being preserved and secured? Many companies attempt to cease being customer data gets exposed. Then who possess the rights to monetize the customer data? The companies that are trying to collect and secure the customer data, need to assess the value and importance to maximize the pro?ts by persuading customers about the security and safety measures taken by the company. Organize the data properly. Unless or until the data is given shape or structure and get segmented accurately, the companies won’t be able to identify the exact segments to target for having better reach. Coming up with a better plan of action helps companies to accumulate more rightful customer data. The approach could be di?erentiated depending on the type of company and the type of products or services they deal with. In one way or another all companies irrespective of their size recurring pro?ts and generating revenues by monetizing customer data. The essential and primary factor that a customer deserves when they submit some data is its security. Each and every company is making e?orts in their own way to maintain some safety standards so that customers can feel safe. When the legal norms come into the picture for monetizing customer data, the wide variations also exists depending on the type of data. Even companies are not ignoring their customer data maintenance because, privacy matters. Finally, here is the conclusion that there is an invisible mutual understanding between data providing customers and those companies

3. who ultimately tries to wins one over the other, considers the ethical utilization and its application. Hope this gives you some insights and add your suggestions if you have any!!! Happy reading… For more instructions and information on data security do refer from the below link: https://www.audienceplay.com/blog/data-governance/ Dataprivacy Datasecurity Datamonetization Monetizedata WRITTEN BY Rumana Jasmeen Shaik Follow Experienced in handling high end data solutions.Skilled in Market Research, Digital marketing and data privacy with complete professional knowledge. More From Medium Common Node.js Attack Vectors: The Dangers of Malicious Modules Thomas Hunter II in intrinsic The Di?erence Between Encoding, Encryption, and Hashing.

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