Data as an Asset
Data as an Asset
Data as an Asset
Question 1: Privacy Laws
Data considered as personal information comprise of individual’s name, social security number, ID number, driver’s license as well as any financial or medical information (“New State Privacy Laws Go Into Effect on Jan. 1, 2015 | Inside Privacy,” 2014). Currently, there are several privacy laws that have been put into place regarding the fortification of privacy requirements as well as data security. As from the beginning of 2015, several states have implemented new amendments in the privacy laws. Firstly, in California, companies were to comply with maintenance of personal information through implementation of security practices and procedures (“New State Privacy Laws Go into Effect on Jan. 1, 2015 | Inside Privacy”, 2014). This amendment was under the data and security breach laws. The implications of firms complying to this amendment is increased security services offered to the clientele and reduction of identity fraud related crimes. Such security procedures will safeguard customers from exposure to fraudulent activities.
Question 2: Artificial Intelligence
Some of the products that I use that incorporate this aspect is Netflix. The AI systems incorporated in the development of Netflix as well as other applications such as Apple iTunes, Amazon Website and Genius play list builder is termed as Amazon cloud that involves feeding enormous amount of data into neural networks, which are structured in a manner that resembles and functions like the human brain (Fanger, 2014).
Question 3: Business Intelligence through Data Assets
When assessing the advantages of data assets in terms of offering business intelligence, MLS is highly preferred. This advantage is derived from a competitive aspect whereby a real estate business company is able to evaluate the competition and hence act accordingly in terms of increasing performance and clientele base (“Multiple Listing Service (MLS): What Is It”, 2016). Through such a service, real estate businesses have been able to gain advantage through sourcing out experienced and well-seasoned brokers specialize in the field, which is important in selling inventory that is inclusive of properties on a particular locality.
Fanger, D. (2014). Netflix Deep Learning-based AI will tell you what you want to watch but do we need one?. Tech Times. Retrieved 6 September 2016, from http://www.techtimes.com/articles/3442/20140213/netflix-deep-learning-based-ai-will-tell-you-what-you-want-to-watch-but-do-we-need-one.htm
Multiple Listing Service (MLS): What Is It. (2016). realtor.org. Retrieved 6 September 2016, from http://www.realtor.org/topics/nar-doj-settlement/multiple-listing-service-mls-what-is-it
New State Privacy Laws Go Into Effect on Jan. 1, 2015 | Inside Privacy. (2014). Inside Privacy. Retrieved 6 September 2016, from https://www.insideprivacy.com/united-states/new-state-privacy-laws-go-into-effect-on-jan-1-2015/
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