As people always say some big social media platform would collect our personal data and sell to marketing company clfor market analysis, how would I be taken advantage? Would they have different use on photos or locations as well?
In: Technology
One big way companies use personal data is targeted product advertising. This is what shows up in your Facebook feed ads, google sidebar ads.
I am a company that wants to use personal data. Specifically demographic data. age, sex, location, and of course the really expensive one, interests. How do I do it? Well I go the Google or Facebook and enter a form. I want my website product link. I want it shown to everyone, 18-35, male and female, in San Francisco, who loves eating tacos. I want to advertise my taco truck only to those ppl, not to 50+, nor to Los Angeles, nor to those ppl that don’t like tacos.
What’s my price? Well fb sees my request and bids it against anyone else, 18-35, in San Francisco, tacos. I don’t compete against taco businesses in LA, or NYC but I do compete against taco bell National
But how does fb know if a user likes tacos? Easy. people love talking about tacos, showing pictures which I can use image recognition systems to identify as tacos, liking friends posts about tacos and the big one, friends who like talking about tacos more likely than not have friends who also talk about tacos.
Facebook takes my request. Money is exchanged. I just brought ads based on personal information.
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