In modern world, the information is priceless. Companies and organizations take advantage of data in order to achieve business profits. Big datasets are crucial and effective. Since, utilizing collected data helps institutions in decision-making based on certain variables. In addition, data provides them with predictions that are being exploited in marketing plans. Moreover, collecting information from different platforms about the customer’s experience and feedbacks helps in enhancing the service or product that the foundation offers.
Businessmen and governments consider the previous information about datasets and use it in their work. The passage suggests that using big data increases the efficiency of the organizations’ performance besides the client experience. According to the lecture, the lecturer thinks that the past does not predict the future. So, he doubts the points inferred in the passage. Also, he suggests that sudden events can change the whole expectations based on datasets which may lead to serious loses due to misleading decisions. The professor pointed out some important concerns regarding the privacy of the customers that is being affected by collecting data from their experience. Furthermore, the decisions made depending on data do not respect the personal preference of each client.
In conclusion, data can be misused and data-driven insights may not be accurate. As a result, the decision makers must review their plans from various perspectives not only the dataset’s one.