The incessant gathering, analyzing, and processing of personal information the digital era has enabled is both creating new and lucrative business opportunities and posing some serious privacy concerns. In What Stays in Vegas, Adam Tanner shines a light on big data, showcases some of the most avid data gatherers and brokers, and explains why they do what they do. Tanner offers a vivid look into the world of personal data collection and its implications. Drawing heavily on the experience of Caesars Entertainment Las Vegas, What Stays in Vegas is steeped in personal, behind-the-scenes stories from entrepreneurs, casino owners, private detectives, data brokers, and others.
According to Tanner:
- Customer lifetime value is directly tied to customer satisfaction and can drive astronomical growth. Satisfied, repeat customers are much less costly than one-time customers, and exponentially much more profitable.
- Big data gives customers what they want. Collecting a wealth of personal data on individuals enables the kind of personalized, customized marketing that is most useful and appealing to them.
- A little bit of data can reveal a lot. A birth date and a zip code are enough information to piece together a very complete picture of an individual.
- In the Internet era, privacy and anonymity are an illusion. Because of digital technology, data about individuals is being captured and used whether those individual realize it or not, and that is not likely to change.
- Consumer awareness is the most important ingredient in consumer privacy. The more people understand about how their personal data is being captured and used, the better able they will be to control the process.
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