How Rapleaf Is Data-Mining Your Friend Lists to Predict Your Credit Risk | Fast Company


Get ready for this. You’re being evaluated, no, judged by the company you keep on social networking sites. Using public data, new firms are making some pretty sweeping judgments about you based on what you freely post on sites like MySpace, Twitter and Facebook.

70% of U.S. consumers claiming they “definitely would not” allow advertisers to track their online behavior–even if they remained anonymous–its unlikely consumers will react favorably to businesses monitoring and ranking their social “footprints.” According to the CDT’s Dempsey, further oversight is inevitable, and will likely lead to more transparency. Ultimately, however, Dempsey believes consumers get what they pay for.

“Social networking is part of the advertising-supported Internet,” he says. “It’s one of the free services we all enjoy. Now people are becoming aware there is a cost.”

Read Article.

Leave a comment