Our increasingly digital landscape has created a unique blending of society, politics, and the economy. These areas used to be separated by a few key boundaries. But now, those boundaries have vanished. Digital technology and vast amounts of data mean the landscape of the world is constantly changing. But how has this affected the Business World?
Our data is everywhere. We constantly enter our information into online forms or allow various sites to use tracking cookies on us. Not to mention our social media accounts are nothing more than vast information repositories about us, ripe for data harvesting. All of this information is great for businesses. But it is only thanks to the advancement of data storage systems and technology that this data is actually useful. The technology utilized when doing employment background check is also responsible for assigning targeted advertisements to us.
Running background checks is a fantastic tool for businesses and consumers alike. In the past, a lot of companies were forced to rely on their State’s record-keeping systems and the honesty of those applying for jobs. This led to a lot of deception and you couldn’t always be certain of who you were hiring. Now, background checks can look at everything from criminal records to educational background.
This might sound like an invasion of privacy, but the cooperate world requires a certain level of honesty and translucency. This also adds a layer of protection for the customer. If a shop knows the person they are hiring is safe, everyone is going to feel more secure.
Data has benefits beyond belief, it has improved businesses’ bottom lines, advanced their marketing strategies, and created a better environment for innovation. It is a different world, there are far more connections between people from different countries. This means that options for sales and clientele are extended almost ten-fold. Previously, a lot of companies would be sealed off from the rest of the world. This new model has increased the supply and demand chain of consumerism.
Whereas data especially on websites, interest can be differently quantified, clicks are a new form of analysis, with adverts placed on pages, and the algorithm seeing what is being clicked, and by which demographic. New metrics such as revenue per visitor and cost per click, the frequency of visitors and time spent on the website, if there are new onto the platform and what they can feasibly sell with the most efficiency.
Specific interests and personal details that are flagrantly thrown out there to the world wide web can also culminate into unique businesses. Everyone is constantly barraged with customized adverts and personalized commercials showing up based on their recent search history or an off-hand comment they made.
Shifting gear from suggestions from products that people aren’t aware exists to those they want, in the pre-internet days, one would have to wander around a supermarket and find the items they wanted, whereas, with the invention of search engines like google or smaller integrated search tabs on websites, it’s far easier to find the things you want fast. People who were once frugal with money due to the inconvenience of venturing to buy such luxuries can now do everything from the comfort of their home. The products they want are shown to them. But this happens whether they like it or not.
This methodology of forced targeted advertisements is widely considered a bad sign of things to come. It isn’t our place to say if it is or not, that is for you to decide as an individual. But you can’t argue it has made the shopping process far more streamlined and efficient.
The speed of which these calculations are almost instantaneous and far cheaper than hiring a marketing team to individually monitor the behavior of their users and how best to advertise through the lens of human error. With every new advancement in data storage and collection, the world of business changes yet again. Nothing ever stays the same for long anymore. But we, for one, welcome this wave of innovation and change with open arms.