Today, a lot of companies are employing techniques to gather customer data online. The companies are investing hugely to capture your data for their potential benefits. Through this article we will explore how companies are being benefited by gathering our personal details:

# 1. Big data advertising

Capturing a large amount of data presents an opportunity for businesses to find new sources of revenue.  Probably, this is one of the first ways that companies use to make money. The acquired data is highly valuable as it is sold to advertisers for finding the tastes of certain groups. By gathering more precise information regarding location, age group, and taste it becomes easy for companies to find potential clients to advertise their products.  

 # 2. Marketing

Utilizing data in marketing is an effective procedure through which companies retain their existing customers. Marketing data is gathered by analyzing people’s shopping habits, online search patterns and social media posts. Marketing helps in selling products easily to potential customers. For example, Netflix makes use of algorithms to offer the users suggestions based on data extracted through its data repository.  

# 3. Product development

Now, companies are also using data to predict the purchasing habits of individuals. Based on the insights gained through this personal data the specific deals can be offered to customers at the point of purchase. Furthermore, this data can also be used for predicting certain health ailments and diseases.  

Thus, your data is a precious commodity for companies. It is helping them drive growth by increasing profits considerably. Alongside, big data selling and buying information has become a new profit-making source. Hence, the businesses are making a lot of unseen money from what we do and see online.