Social business and privacy concerns
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Social media is the largest communication channel today, both inside and outside of the business world. The generation born in 1980s and 1990s which is known as generation Y, enjoys and benefits from sharing data on social media to communicate with each other and get feedback. Using collected data from social media assists business processes and development, since it provides new avenues for product distribution and customer analysis. Because collecting online customer’s data and analyzing them is a large part of social business, privacy is of utmost concern in this new generation of business. Many privacy and even security issues have yet to be resolved; what level of power do customers hold against privacy invasion, for instance, and how much privacy invasion will customer tolerate. This thesis examines and investigates the potential impact of social media and big data analytic as it relates to new business practices. It analyses the privacy risk associated with using social media as a business tool to both communicate with customer and to monitor customer’s online activities. It also highlights the role of privacy awareness, data protection policies, and how a good privacy practice can contribute to trust. Therefore faster business growth and better customer acceptance of social business and online applications would be provided.