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Facebook & Cambridge Analytica: A lesson for businesses & B2B data providers

Facebook & Cambridge Analytica: A lesson for businesses & B2B data providers

Introduction

The Facebook & Cambridge Analytica incident was one of the biggest data breach incidents that occurred in the 21 centuries. It is regarded as one of the biggest data leaks in today's world. The data loss accounts for the data of about 87 million users being stolen and supplied to the 3 party apps. The main use of the data breach was to influence voters of the 2016 elections. The incident shook the whole internet community and it faced a lot of criticism. Many people trolled social media platforms and deactivated their accounts due to this data breach incident.

Many people trolled online platforms for their data leak or low data security. However, amid this data leak. There are many things that a business company of small scale or B2B data provider can learn from this mistake. This will help them to understand marketing better and will also help them to realize the true value of the data in today's time. However, the above incident should also be taken as a warning that data is important and its leak won’t be tolerated under any condition.

What can we understand from the Facebook and Cambridge Analytica?

There are several lessons that one can take from Facebook and Cambridge Analytica. You can understand many things from it and use them for your better understanding. We have made a list of all the things that you can learn from Facebook & Cambridge Analytica. Let’s see them one by one.

Data Compliance

The first thing we understand from the data breach incident was that the data is the most important thing that matters in today's life. Many people may agree to this matter while others may not agree. However, if you are online, the thing that matters the most to you is your data. No person can do anything without the data. Many small businesses or B2B marketers want the data of the people to study their behavior and improve their marketing strategy. However, most of the time they steal the data through third-party apps. The Facebook & Cambridge Analytica experience made this thing clear. This enforced strict laws against data theft and people found it clear that data should not be taken without permission. If anyone wants the data of the user, then they need to ask for it from the user. They can tell the user about their program and the information they would like to receive from the user and also ensure how they would use the data in the future.

In addition to that, once a party gets the data, it's not that they could freely use the data as per their choice. Many strict rules were added to prevent incidents like Facebook & Cambridge Analytica. These rules stated out how the data can be used by people and how it should be managed by the people or company. The data should always be used as are the data compliance and without causing any data leaks to the other party. Any business can use the data to study the likes or dislikes of the user, their pattern, or anything which could be of use to their company or anything that will help them in marketing. Apart from that, the data should remain private and safe. The company must do anything in their hands to prevent data leaks and if they fail to do so, the one who will face the consequence is the company that asked the data from the user.

Reputation

The next thing we learn from the Facebook & Cambridge Analytica is the reputation that goes with such incidents. Till now, Facebook bears the hate of the people because of the data leak issue. Many other social media were criticized for stealing the data of using them for their benefits. Many other things went downside for Facebook because of their data leak. The most prominent one amongst them was that people in huge numbers began to deactivate their accounts due to their breach of trust.

The incident tells us that the reputation that one company has earned by working hard can be lost by deceiving their users and stealing or trading their data. Once the reputation of the company is gone, the company will receive major setbacks from all around the world. If your company is a small-scale company or a large-scale company, then it is better to prevent such incidents and keep striving towards making your company better without causing data leaks.

How can you be safe from such incidents in the future?

As they say that prevention is better than cure. One must be ready for such an incident in the future as well. Due to the Facebook & Cambridge Analytica, many people have started to doubt many companies online and so there are few ways in which you can make the users trust your company. Let’s see them one by one

Build strong security networks

Action speaks louder than words. The best thing you can do is builds a stronger and secure network that will be difficult to access. Make it so that data leak or data breach form your company would be next to impossible.

Tell the user about it

Once a user enters your company website, tell them about your data security, and make them believe how you put privacy above all. Tell them how you will protect their data. It is one of the many things that you should do. Once the person trusts you, they will provide you with their data easily.

Build your company

From the data that you received, work on your marketing campaign, and make them gather more audience. Work on your products and build them so that the more people will be attracted to your company and it will result in your company growth.

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