The Ethical and Social Challenges of Big Data

 Hey guys,

Ethical concerns and social challenges go hand in hand when it comes to big data. This week I will be discussing these challenges.

Ethical Staff Cutbacks

Concerns have been raised over the reduction in ethical staff within technology companies. Global companies such as Microsoft, Amazon, Google and Twitter have been seen to have taken part of this trend recently Financial Times. This has raised vital concerns about the safety of new technology which is being adapted by customers world-wide. With the reduction of ethical staff, it is perceived that there is a reduction the companies regard for ethics.

Big Data Security

There is a variety of inputs that are involved with the collection of information for big data. With the huge amount of confidential information that is gathered from individuals it is vital that the information is securely stored. This is a responsibility of the data companies and is governed by data protection laws. For instance with Data Protection In the EU  the EU companies have to abide by the General Data Protection Regulation (GDPR) and the Data Protection Law Enforcement Directive. Interestingly China has announced initiatives for the need of a global security standards measures when it comes to big data protection Deloitte.com.  As individuals we should be asking ourselves how safe our data is? Furthermore, how much information do these companies actually have access to?

Data Staff Shortages

Companies are struggling with the human resources issue of staff who are trained the area surrounding data collection and retention. These professionals include data analysts, engineers, and scientists. Business.com reports that there is a fundamental shortage of data qualified staff in the workforce. As these are highly skilled roles there is intense competition within the labour market for these individuals. This shortage is a rising concern that needs to be addressed by companies through recruitment and training programs.  

Exponential Growth

The collection of data is a rewarding business opportunity for companies. It is used in all aspects of their business from sales and marketing to the very core of their business strategy. The proper use of data can give companies a competitive advantage with planning and decision making. Fortune Business Insights  reports the value of the big data global analytics market was $271.83 Billion in 2022. In 2023 it is predicted to grow from $307.52 billion to $745.15 billion in 2030. This portrays exponential growth, and intices people to ask the question of if they are being taken advantage of? How is our information being used to create such a profitable market for these multinational corporations?

I urge everyone to check out this informational video by AmpCode, where you will find further information of today’s topic and the challenges of Big Data in today’s world Big Data challenges and how to solve them

Talk soon,

Nathan.