The FTC will hold a big data workshop...
The FTC will hold a big data workshop Sept. 15 to examine how data collection practices affect low-income and underserved consumers, it said in a Friday news release (http://1.usa.gov/1gi8J9M). “A growing number of companies are increasingly using big data analytics…
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techniques to categorize consumers and make predictions about their behavior,” said Chairwoman Edith Ramirez. The workshop will examine “the potentially positive and negative effects” of these techniques, she said. For instance, financial institutions and retailers have used predictive analytics to offer different prices to different customers or to tailor advertising for financial products, the FTC said. “Such uses of big data are expected to create efficiencies, lower costs, and improve the ability of certain populations to find and access credit and other services,” the FTC said. “At the same time, these practices may have an unfair impact on other populations, limiting their access to higher quality products, services, or content.” In recent months, the FTC has explored similar data collection privacy issues, including two-hour seminars on mobile device tracking and alternative scoring products In May, the FTC will also hold a third seminar on healthcare data (http://1.usa.gov/1jY27hV). The FTC will accept comments ahead of its big data workshop until Aug. 15, with a post-workshop comment period until Oct. 15(http://1.usa.gov/1qo0KuX).