Chapter 3: Compliance and Regulations

The modern business landscape is increasingly being influenced by big data held in servers at business premises or in the cloud. These huge amounts of data have led to increased scrutiny for businesses to ensure that they collect, share, protect, and use these huge amounts of data in the required manner that protects user privacy. In the recent past, Facebook and Cambridge Analytica have been involved in a global data scandal that involved the misuse of user data for business gain. This scandal helped highlight the growing concerns about data collection and the use of this data on digital platforms.

Businesses are increasingly at risk of reputational damage if they engage in activities that result in carelessly handling consumer data. Apart from this reputational risk, businesses also face penalties in the form of fines, as well as serious regulatory measures regarding the collection, storage, and use of data from both online and offline sources...