Prior to beginning work on this discussion, read the following two articles: John Funk’s The Ethics of Big Data: Why Marketers Should Be Careful About Consumer Privacy (https://socialnomics.net/2020/02/17/the-ethics-of-big-data-why-marketers-should-be-careful-about-consumer-privacy/) and Christian Ofori-Boateng’s Your Big Data Responsibility: The Rise in Data Ethics (https://www.forbes.com/sites/forbestechcouncil/2020/06/08/your-big-data-responsibility-the-rise-in-data-ethics/?sh=14cb5b7672f7).
Based on the content of these articles, respond to the following:
Describe the microeconomic principles being used. What is driving the demand for data? What impact will regulations on the use of private data have on supply, and thus, firms?
Evaluate the different market structures that big data benefits the least and the most from.
While data collection may benefit the business community, discuss the concerns for consumers as big data proliferates.
Your initial post should be a minimum of 300 words.
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