Big-Data and Consumer Profiles – The hidden traps of data collection on social media networks

The development and increased popularity of the social media networks has changed the way consumers communicate and interact with each other. But besides the positive aspects regarding socializing, real-time communication and information sharing, the social media networks have also several disadvantages. Private data security, invasion of privacy, misuse of information are just some of the negative aspects associated to social media networks, of which many of the consumers are not aware. This paper gives an overview of the different methods in which private consumer data and consumer profiles are created with the help of social media networks. The paper focuses on three main components, namely the data provided by the consumers, the technologies that have the ability to collect data in an aware or unaware manner and the contribution and advantages of business in this process. The results show that some of the data are given by the consumer, while other are just gathered with the help of automated and intelligent systems or applications.