1 August, 2013
Business Leaders’ Responsibility With Predictive Analytics
Mike Gualtieri, Forrester Principal Anaylst, recently caught up with the founder of Predictive Analytics World, Eric Siegel, to discuss big data and privacy. Siegel is a long time expert on predictive analytics and recently authored Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die.
“I think privacy considerations are important,” said Siegel. Referencing the uncle of Peter Parker (Spiderman), Siegel noted, “By wielding this power [of predictive analytics] that can be used for good – that can make the company operate more effectively, that can serve us as consumers more effectively – it also means we can predict things that are sensitive.”
Gualtieri and Siegel discussed the choices that face leaders who receive the predictive and sensitive information gleaned from big data. “There’s no easy answer to figuring out how do we wield this power in a way that ensures that ensures that there’s been ethical considerations,” Siegel stated. “There’s no full-proof manner” but we can’t just throw out all the new technology and benefits from it.
In closing, the two men postulated on how future generations will address the issues of privacy and personal information. While they acknowledge many in the Millennial generation are more open and share private information frequently online, they aren’t quite ready to rule out Millennials from having privacy concerns down the road.