Startup Funding Espresso Privacy Issues With Data Monetization
Privacy Issues With Data Monetization Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Many startups collect data from users that is useful to other companies. Those companies are not interested in the raw data but rather the insight into the behaviors of the users. For example, users who use the app at the same time of day give an indication of their schedule. This can be used by other companies such as providing ads to that user at that time. In monetizing your data, consider the privacy issues that come with it. Consider taking these steps to ensure the privacy of your users: Make clear your data policy to users. Collect only the data you need. Anonymize the data so no one\u2019s personal identity is made known. Give the user the ability to opt out of the data sharing process. Give the user the ability to delete their data. Provide security around the data you are collecting to prevent unauthorized use of it by hackers. Abide by the current regulations set forth by the industry, the state, and other authorities around data usage. Data monetization can create new revenue streams for your company, but you must ensure the privacy of users.\xa0 \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .