Customers Control Over Data is Increasing in Facebook
Facebook on Tuesday said it would change the company’s policies by collecting customer data. It is reported that social media will be given the opportunity to view and control the data that the social media collects regarding the browsing patterns of the customer from other websites and apps. These data are called ‘off-facebook activity’. For example, when a clothing website shares a customer’s browsing activity with Facebook, they are called ‘off-facebook activity’.
A blog post on Facebook says new tools have already been opened in Ireland, South Korea and Spain. It will be open to the entire world in a few months. It also said that the business of the company will have some impact.
James Cordwell, an Atlantic Equities analyst, said, “We believe this off-the-shelf activity data is very valuable to Facebook. This allows advertisers to reach the consumer, the consumer has already shown interest in the product or service. Facebook has faced strong criticism from lawmakers and policy makers over its recent privacy policies. Then they took the initiative to bring this new tool. Last month, Facebook agreed to pay a record $500 million fine to the US Federal Commission in resolving privacy issues.
Social media is the revenue from advertising and gives advertisers tools to target potential customers. Therefore, any changes to the effectiveness of the targeted ads will affect the revenue of Facebook. The company earned about $ 1700 million from advertising sales in the quarter ended June 5. According to Facebook, if the customer deletes off-Facebook activity, the data that the app and websites send to the customer will be deleted.
Cordwell said the question here is how many customers would be interested in using this feature. Especially when navigating to the app’s settings for this task. I think the impact this feature will have on the business can be overcome.