This week in class we learned a lot about the data asset. Many companies these days gather a lot of information on there customers. Whether it be demographic information or anything else, this info is usually analyzed and companies make assumptions about their customers shopping cart or even what trends are going in and out of style. along with a lot of data collecting also comes the big risk of data security. There have been cases recently of large corporations getting hacked and losing hundreds of thousands, even millions of customers private information, in some cases even the possibility of credit card numbers being compromised. Sony was one of the companies this happened to when they were hacked and reportedly were unsure if customers credit card information had been collected. Below is a link relating to the story.
http://www.wired.com/gamelife/2011/04/playstation-network-hacked/
another interesting article on the same topic:
http://www.wired.com/gamelife/2011/04/psn-down/?utm_source=Contextly&utm_medium=RelatedLinks&utm_campaign=Previous
Data does not equal information. Data is raw facts and figures that can be used in context to answer questions and support decision making. Regression techniques can be used to create a trend line that displays data that is more readily usable. As a result information is created and is displayed. Patterns and theories can be deduced and decisions can be made from this information. In this manner is how companies like best buy use their rewards cards and make business decisions they feel positively benefit the company and its profits.
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