In January the Federal Trade Commission published their report on the benefits and risks created by the use of big data analytics.
Their report is intended to educate businesses on important laws and research that are relevant to big data analytics and to provide suggestions aimed at maximising the benefits and minimising the risks.
The report highlights a number of consumer protection and employment laws that are applicable to big data and reminds those using big data analytics of the need to consider fairness and ethics in the way in which data sets are analysed having regard to the impact of any exclusionist approach in data collection.
In using big data analytics, attention must be made to data management and data retention as well as data security.
The report also contains a number of useful checklists for businesses and can be downloaded by clicking here.