Explain how big data relates to online marketplaces such as Amazon and eBay. Describe the costs and benefits of collecting data for these online marketplaces. Propose some ways online marketplaces can use to benefit most from data regarding online participation, and consider the major costs of this data collection. Cite at least 5 works from reputable sources in operations management or media studies that help support your argument.
To help you organize your answer, I need responses for three parts...
1. How do online marketplaces use big data? (cite readings, can be from online marketplaces in general or a specific platform)
2. What are the benefits AND costs of the use of big data for online marketplaces?
3. Have there been any concerns regarding this big data collection?
Please answer with a response of at least 400 words. The main questions are 1 and 2, and I appreciate your analysis.