Question

The advanced tracking abilities of social media platforms and Customer Relationship Management (CRM) software allow companies to gather more personal data about customers than ever before. Personal customer data can help companies deliver highly relevant advertising and offers to consumers, but there has been a large public backlash against this type of extensive data collection.

What are the implications of this extensive collection of personal data? Are the benefits for companies worth the risks? Is this kind of personal data collection more useful than intrusive, or vice versa?

Answer 1

answer-

The customer's data is very important for every company but company has make certain line for collection of their data.this extensive collection of personal data may have implications like Customers may switch from the company's products or services, customers would be frustrated because their personal information is treated like public announcements, customer;'s personal data have the risk to get into wrong hands like Hackers which can create personal as well as financial problems to the customers.

according to me, The extensive collection of data is not worth the risk because if customers would get annoyed with the company and stop to purchase their products then what would company would do with that data. the main profit for every company comes from customers not their data. if there is no customer then what is the use of their data. Company should limit their activities in collection of data to an extent that they cab utilize the customer's data without annoy or frustrate their customers.

This kind of personal data collection of not useful while it creates chances of leaking or theft of the personal data of the customers while collecting or storing them. Any strange person can use the customer's data for illegal acts which can be bad for company as well as customers.