Data Privacy And Analytics Research 2022

RUNNING HEAD: DATA PRIVACY AND ANALYTICS
0
Business
Analytics
Student’s Details-
4-15-2020

DATA PRIVACY AND ANALYTICS 1
Abstract
Business analytics is an important statistical tool used by the businesses in which
maintaining the privacy of the data is a due concern for the organizations. The aim of the essay is
to throw light on the privacy related issues which can certainly affect the contemporary
organizations. The research is conducted from the academic journal articles. The study depicts
that the data privacy is crucial for the organizations in terms of maintaining reputation and also
making proper decisions through the analytical tools.

DATA PRIVACY AND ANALYTICS 2
Introduction
Business analytics is a term used to describe the methodology that helps in sorting,
processing and managing of business data by making use of the statistical models
(Appelbaum, Kogan, Vasarhelyi, & Yan, 2017). Further, this has a close relation with data
privacy as this explains the significant ways by which data is securely stored and managed for
creating better customer experiences by safe handling of data. The essay will determine the
concept of data privacy and business analytics and their dependency. Also, the essay will
highlight the implications of the data privacy issues on the contemporary organization by
determining the strength, weakness, opportunity and threats. Lastly, it has reflected the potential
consequences of data privacy issues on my chosen role as a customer.
Data Privacy and Business Analytics
Business Analytics (BA) as a subset of business intelligence which is described as the
methodology which enables the business to analyze the data and develop the models and
patterns. As a result, this can provide the business insights of the ways by which it can facilitate
future predictions and also helps in maximizing the outcome. Particularly, customer profiling is a
broad business analytic technique which can provide the insights of the customers, market trends
and product demographics (Petrescu & Krishen, 2018). Thus, business analytics is a useful
technique for enhancing the product value and examining the changes into the customer behavior
through the customer profiling. Further, its importance lies in the smart decision making which
could leverage the business. Also, BA helps in keeping the business updated through the
determining the rapid changes into the industry.
Further, concept of data privacy is described as the ability of the business to keep the
information safe and secured. This is also regarded as information security which relates with the
concept of information is shared and handled. Data privacy is always been an important concept
due to more data is being digitized. This has become the liability of the business to keep the
customer’s information private and protected which can enhance customer satisfaction
(Collingwood, 2017). Moreover, the breaches into the data privacy can negatively impact the
business reputation and can also lead to loss of customer’s trust onto the brand. This is also
treated as the right of the customer which compels the business to adhere with the privacy related