Since the US-presidency elections of 2016 and the surprising victory of Donald Trump, a sudden public interest in “big data” was sparked, since it was suspected to be key to Trump’s success. More precisely, it was the combination of “big data” and behavioral nudge approaches that was key to the strategy of Donald Trump. This essay examines the powerful synergies of “big data” with behavioral economics on the basis of real life examples from politics and business. Moreover the practical limitations as well as ethical considerations will be discussed.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Introduction
- Applications
- Limitations and ethical considerations
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay aims to explore the synergies of behavioral economics, particularly nudge approaches, and the emergence of big data in the context of Western societies' rapid digital transformation. The essay also investigates the limitations and ethical concerns that arise from this development.
- The synergy of big data and behavioral insights in political campaigns and business.
- The applications of behavioral insights and big data in various sectors, including politics, business, and the internet-of-things.
- The limitations and ethical considerations surrounding the use of behavioral insights and big data.
- The potential for manipulation and the implications for privacy and individual autonomy.
Zusammenfassung der Kapitel (Chapter Summaries)
- Abstract: The essay focuses on the powerful combination of big data and behavioral nudge approaches, particularly their use in the 2016 US presidential election. It explores real-life examples and discusses limitations and ethical considerations.
- Introduction: The essay introduces the concept of big data and its use in political campaigns, citing the 2012 Barack Obama and 2016 Donald Trump campaigns as examples. It also introduces behavioral economics and its focus on understanding human behavior.
- Applications: This section examines how big data and behavioral nudges are combined in political campaigns, specifically referencing the Trump campaign's use of Cambridge Analytica and its reliance on the OCEAN Model. It also explores the Obama campaign's use of commitment cards and social proof tactics.
- Limitations and ethical considerations: The essay discusses the ethical concerns surrounding the use of behavioral insights and big data, including the potential for manipulation and infringement on privacy. It explores the concept of choice architecture and its aim to guide individuals toward making choices aligned with their long-term goals.
Schlüsselwörter (Keywords)
The essay primarily focuses on the intersection of big data, behavioral economics, behavioral nudges, choice architecture, ethical considerations, and digital transformation. It explores the implications of these concepts for politics, business, and the internet-of-things, as well as the potential for manipulation and the need for responsible data utilization.
- Quote paper
- Alexander Ritter (Author), 2017, The symbiosis of big data and behavioral insights. Applications and ethical considerations, Munich, GRIN Verlag, https://www.grin.com/document/379640
