Is monetizing customer data legal?

Rumana Jasmeen Shaik
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Sep 23 · 3 min read
Is monetizing customer data legal?
“A private life is a happy life”. But to what extent do we value our personal
data privacy and leading a happy life? Every individual has their privacy
concerns regarding their personal data and to what extent it should be
exposed.
When it comes to business, companies are spending tons of time and money
on collecting and segregation of data. Is data that precious? Yes, it is.
Data is such a thing which can make or break an organization in some way
or the other. Because correct data leads to the proper implementation of
strategic decisions which nally directs to right audiences.
Let us have a glimpse of monetizing data:
What exactly is data monetization and how eective is it? A company
always tries to strive for excellence in every way possible. When it comes to
generating revenues, there are innumerous ways to do so. But selecting the
right one is a hard choice.

One of the best decisions is monetizing data. This would help in operating
the most acceptable results in the case of customer data. But it is not that
easy as it sounds. If a company is fueling more in interrogating to get bestsuited
data then, the chance of getting into limelight becomes easy.
Data Privacy:
In this universe, the independent society gives a lot of circumstances to
discover themselves and to introduce it to the world. But security concerns
are unhidden issues. To overcome these legal laws to privacy has been
raised.
Here, customer data privacy is a crucial thing to discuss. In this digital era,
customers and their data are unavoidable for companies. To what extent do
this data is being preserved and secured? Many companies attempt to cease
being customer data gets exposed.
Then who possess the rights to monetize the customer data?
The companies that are trying to collect and secure the customer data, need
to assess the value and importance to maximize the prots by persuading
customers about the security and safety measures taken by the company.
Organize the data properly. Unless or until the data is given shape or
structure and get segmented accurately, the companies won’t be able to
identify the exact segments to target for having better reach.
Coming up with a better plan of action helps companies to accumulate more
rightful customer data. The approach could be dierentiated depending on
the type of company and the type of products or services they deal with.
In one way or another all companies irrespective of their size recurring
prots and generating revenues by monetizing customer data. The essential
and primary factor that a customer deserves when they submit some data is
its security. Each and every company is making eorts in their own way to
maintain some safety standards so that customers can feel safe.
When the legal norms come into the picture for monetizing customer data,
the wide variations also exists depending on the type of data. Even
companies are not ignoring their customer data maintenance because,
privacy matters.
Finally, here is the conclusion that there is an invisible mutual
understanding between data providing customers and those companies

who ultimately tries to wins one over the other, considers the ethical
utilization and its application.
Hope this gives you some insights and add your suggestions if you have
any!!!
Happy reading…
For more instructions and information on data security do refer from the
below link:
https://www.audienceplay.com/blog/data-governance/
Dataprivacy Datasecurity Datamonetization Monetizedata
WRITTEN BY
Rumana Jasmeen Shaik
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Experienced in handling high end data solutions.Skilled in
Market Research, Digital marketing and data privacy with
complete professional knowledge.
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