No tech company will survive (thrive) without sufficient data. The users provide their data, and the company can produce algorithms and software to support such information. These algorithms will improve accuracy as more data is inputed, and this is what helps companies move forward with their products. In the Harvard Business Review’s Case Study: Protecting the Cheddar, there are cases where over-networked companies face issues with privacy and hacking. When this case applies to industries like healthcare or finance, there can be a lot of valuable data leaked. This is both harmful to the users and the providers of those services.
So, what can we do to prevent these happenings?
I believe that there has to be more caution in terms of how that data is collected and where it will be displayed. The users of the platform should be given notice about the possibility of such hackings happening. This would require more transparency on the producer’s ends along with great efforts to mitigate the problems. As of now, it’s not entirely possible to address each and every single one of these issues, but I’m sure that with more secure data encryption and usage, we can protect the cheddar.
