Lessons From the Facebook Fiasco
Facebook did not have a good handle on “who gets to use what data.” That is the most unsettling part for people who deal with data for living. Facebook is not exactly dealing with credit card or medical data there, but the sheer volume of data makes the matter as serious. Would it be harsh if I say that Facebook, in pursuit of increasing its revenue and shareholder value, just went for things that it shouldn’t have gone for? Where is the governance? All this mess, for what? Some “semi-accurate” targeting? (I’d love to see some reports on the backend.)
Data-Mining Friends, Too?
It is one thing that Facebook or its partners used data that I shared on Facebook in the form of profile and interests. It is quite another if some shady vendor downloaded the entire list of my friends and call it “its” data source.
That is just a sleazy practice. I’m pretty sure that I did not give permission to share the entire list of my friends with a company that conducts some goofy political spectrum test. No one would put that in an agreement in case just “1” person reads it. Because they themselves would know that that is a sleazy thing to do.
Data players must follow a very simple rule; if you don’t want someone to do certain things with your data, don’t do it yourself (refer to “Don’t Do It Just Because You Can”).
Don’t Be a Data Hoarder
In the business of targeting (or analytics for such targeting), more data don’t always guarantee accuracy. There are all kinds of data out there, and not all data are useful or effective in prediction (refer to “Not All Databases Are Created Equal”). That is why I have been writing repeatedly that one must set the project goal first, not just before some elaborate analytical exercise, but even before data collection.
Stephen H. Yu is a world-class database marketer. He has a proven track record in comprehensive strategic planning and tactical execution, effectively bridging the gap between the marketing and technology world with a balanced view obtained from more than 30 years of experience in best practices of database marketing. Currently, Yu is president and chief consultant at Willow Data Strategy. Previously, he was the head of analytics and insights at eClerx, and VP, Data Strategy & Analytics at Infogroup. Prior to that, Yu was the founding CTO of I-Behavior Inc., which pioneered the use of SKU-level behavioral data. “As a long-time data player with plenty of battle experiences, I would like to share my thoughts and knowledge that I obtained from being a bridge person between the marketing world and the technology world. In the end, data and analytics are just tools for decision-makers; let’s think about what we should be (or shouldn’t be) doing with them first. And the tools must be wielded properly to meet the goals, so let me share some useful tricks in database design, data refinement process and analytics.” Reach him at firstname.lastname@example.org.