Big data and predictive analytics have undoubtedly changed business as we know it. Large enterprises that have effectively leveraged predictive analytics like Amazon, Netflix, and Walmart are all enjoying massive success in their respective industries.
Their data efforts have allowed them to engage customers effectively through targeted marketing and be more efficient by streamlining their supply chains. However, as big data and analytics adoption grows, discussions concerning their ethical use are also emerging. The Facebook and Cambridge Analytica scandal has shown how powerful predictive analytics can be in influencing human behavior. Instead of the technology only being used to benefit a select few, there are now calls for the technology to be directed towards the public good.