Until now, to describe the phenomenon that is big data, experts have been using the five Vs: Volume, Velocity, Variety, Veracity and Value. However, a sixth ‘V’ is becoming a new norm as it also concerns the enterprises in a big way and something which deserves the most attention, Vulnerability. While the rest of the ‘V’ from Big data speak of Big Data capabilities, the 6th ‘V’, as quoted by author Bernard Marr, happens to be one of the most debated and urgent topics; Vulnerability. [Read the full article here]
Undoutedly, Big Data has got all the world’s attention and most cases, for the right reasons, due to the multiple capabilities it brings. It not only helps brands in having a better understanding of the customer, but also make better business optimization and improves performance levels of organizations. While we make use of Big Data in more ways than we can count, there lies an ethical question of vulnerability of the customer data, to unauthorized scrutiny, and hence the issue of vuulnerability becomes a key consideration.
The 6th V and why?
While there are definitely multiple sources for acquiring customer data, but keeping the data confidential is the something the industry is battling with. As mentioned by Marr, “Vulnerability addresses the fact that a growing number of people are becoming switched on to the fact that their personal data, the lifeblood of many commercial Big Data initiatives, is being gobbled up by the gigabyte, used to pry into their behavior and, ultimately, sell them things.”
Experian, the credit reference agency, also mentioned similar views in their latest whitepaper. To look at the data vulnerability aspect, one could look at a behavioral aspect at the issue, as John Roughley, Experian’s head of strategy and credit services explained, “We think about things emotionally, and the emotion that’s associated with data is sometimes one of nervousness, anticipation or vulnerability.