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Business Today
|April 22, 2018
What’s on marketers’ mind?
‘DATA IS THE NEW OIL’. It is not clear who deserves credit for coining this phrase, but it has been used extensively by the who’s who – from Mukesh Ambani to Virginia Rometty. And it seems, like oil, data too is going to create a storm around the world, if not a war. The Facebook data breach episode, wherein the social media giant has been accused of leaking personal data of its users allowing misuse by political consulting firm Cambridge Analytica, shocked some and validated the fears of some others’.
As users mull over deleting their Facebook accounts, brands find themselves in a moral dilemma. While they don’t want to be on a platform that is facing a backlash across the world for its negligence, they cannot afford to turn their back on the marketing opportunities Facebook presents.
This story is from the April 22, 2018 edition of Business Today.
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