Ethics in Business Analytics

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Question 1

Yes, business analysts have the right to use data collected during a business transaction to make decisions for the company. However, they can only use data that was gathered lawfully to suit the information consumer. They should only analyze essential data and avoid unnecessary analysis. Businesses use business analysts to inform their decisions as they help firms better comprehend their clients, form content policies, and develop products; this, in return, improves business performance (What is Data Analytics? 4 Ways to Use Data Analytics, 2020).

Question 2

Ethics are the buildup of morals and principles that address what is upright or wrong in human dealings. A business needs to abide by the ethical considerations regarding the privacy and control of consumer information. There are ways in which society, laws, and other regulatory frameworks control what can be disclosed. Disclosure of customer personal information is prohibited to avoid the kind of damage the data subject might suffer (An Ethical Approach to Data Privacy Protection, 2020). Below are some ethical considerations regarding the privacy and control of consumer information.

Information Collection and Purpose Principle/ Informed Consensus

Individual information needs to be obtained in the most lawful and just manner for a resolution unswervingly linked to the information consumer’s purpose. Information subjects must be made aware of the purpose and the levels of individuals to whom the data may be shifted. Information gathered should be essential and not unnecessary. The customer should be fully aware of the purpose of the requested information and who will access this information (Ethical Considerations, 2020).

Accuracy/Precision and Retaining Principle

Individual information should be precise and should not be held for a duration lengthier than it is essential to achieve the reason for which they are needed.

Information Usage Principle

Individual information should only be used to resolve which it was gathered or for an unswervingly connected purpose. However, if a new purpose is attained from the client voluntarily, the information may be used for the purpose stated.

Information Safety Principle

The information consumer must take sensible, realistic steps to protect private information from unsanctioned or unintentional access, dispensation, expurgation, damage, or use. They should be cautious of the damage the information subject would face should a breach occurred.

Honesty Principle

The honesty principle can also be referred to as the openness principle. The information consumer has to disclose to the general public the personal information policies and practices, information it houses, and how the information is utilized.

Access to Information and Alteration Principle

The information owners should be given admission to their private data and granted permission to rectify any inaccurate information.

Question 3

When a business ceases to operate due to dissolution, the management has a corporate duty to ensure that all data is erased forever from IT assets to not fall into the wrong hands (Everything Must Go: Effective Data Removal When a Business Closes – Security Boulevard, 2020). To guarantee erased information shall never be recovered, businesses closing need to utilize certified tools that securely delete data and fulfil regulatory standards. The closing business is expected to deliver evidence that all data and information has been totally and permanently erased. Essential data holding and removal policies should be implemented, stating vital phases in the data life-cycle where it could be compromised and describing when, where, and how to appropriately remove data no longer needed.

When employees leave the business at the end-of-life phase, they should present non-disclosure agreements to the employees; this agreement on signing acts as a binding contract of the oath of secrecy. The employees can be sued when they disclose a client’s personal information. When a business ceases to operate due to a merger or acquisition, the information is passed on to the acquiring company.

References

An Ethical Approach to Data Privacy Protection. (2020). Retrieved 1 November 2020, from https://www.isaca.org/resources/isaca-journal/issues/2016/volume-6/an-ethical-approach-to-data-privacy-protection

Ethical considerations. (2020). Retrieved 1 November 2020, from http://mypeer.org.au/monitoring-evaluation/ethical-considerations/

Everything Must Go Effective Data Removal When a Business Closes – Security Boulevard. (2020). Retrieved 1 November 2020, from https://securityboulevard.com/2018/04/everything-must-go-effective-data-removal-business-closes/amp/

What Is Data Analytics? – 4 Ways to Use Data Analytics. (, 2020). Retrieved 1 November 2020, from https://www.lotame.com/what-is-data-analytics/#:~:text=Data%20Scientists%20and%20Analysts%20use,content%20strategies%20and%20develop%20products.