Listing the current phenomenon is a necessary process to raise a problem. But we already know the phenomenon and the problem. Big data is being expanded across industries, but it has industry-specific characteristics in applying big data.
In particular, big data in the retail sector is already known through overseas practice, but as shown, it focuses on customer management and marketing activities. It is an area that is closely opposed to privacy. Customer data is strictly regulated for out-of-the-box use by the entity. The ultimate goal of retail marketing is "to encourage certain customers to buy specific products." Existing customer information is not available for such activities. But there is a way. It is a "unusual measure." This method is used to delete and analyze personally identifiable information. However, it can also be customized when combined with other information. The analysis also seeks to narrow the margin of error in statistical values and the resulting values by non-identifiable measures.
In industries that are not related to privacy, the application of big data is accelerating. In manufacturing production, big data analysis is used to increase productivity of facility failures and efficient operation.
However, the final goal of big data analysis is prediction. Accurate prediction is thought to be the realm of God. Humans are seeking new insights from data they have never seen before. Social regulations such as privacy and other technical and institutional restrictions remain, but human past history will one day find a solution. The author has been negative about the use of big data for some time. I thought that the industry and society were not ready to accept the technology of big data yet. Now, with the introduction of an institutional safety device called privacy protection, big data is preparing to run on a stable orbit. The development of technology will be advanced rapidly. Of course, we expect the technology for analysis to develop as well.
Steve(JongMyoung) Park, Ph.D.
Ph.D. in Business Administration
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