Social media platforms such as Instagram, Facebook and Twitter collect a significant amount of data about you on a daily basis. Pictures, comments, friends’ networks, your location and the videos you take are being collected on a daily basis. This data is powerful and has value, with some news sources claiming that it is worth $240 a year per individual. Some organisations like Facebook will go as far as paying you for exclusive and direct access to your phone and all the data you store on there. This wealth of information is used by companies to understand who you are, how you think, who you vote for, who you engage with etc. So really my question is “Do companies such as Instagram know more about you than your mum and dad”?
One answer would be a definitive ‘Yes’ – lets take one small example:
Instagram through their advanced algorithms have a clear understanding of your friends’ network, and through your interactions and likes can start to ‘shuffle’ these into how valuable they are to you. They know a good deal about your relationship status, know your work colleagues intimately and have a good idea of the types of places you like to eat and your music tastes. When all this data is collected and organised it makes for a very powerful tool in understanding your lifestyle and mindset, which makes it all the better for selling products to you. However, In the wrong hands this information can be used in a variety of unethical ways, for example the case of Cambridge Analytica asked serious questions of Facebook but also called into question the integrity of the electoral system both in the UK and the USA.
What do you think? Do you agree with my assessment? Are companies becoming far too powerful?
My name is Abdul Jabbar and I am a Senior Lecturer in Business Data Analytics at the University of Huddersfield. My research focus is on Big Data analytics, Social Media Influence and the Internet of things. At the moment I am looking at how social media platforms collect significant amounts of data about millions of people to influence the decisions we make.