Big data has become the dominant buzz word of today’s market, being bandied about virtually everywhere as investors, innovators, and entrepreneurs alike all discuss the technology that’s rapidly coming to define the future. Increasingly, a focus is being put on governmental agencies and how they’re manipulating big data, and investors and tech entrepreneurs are accurately beginning to note that the IRS is one of few government agencies properly leveraging data analytics.
So how exactly is the IRS leveraging big data to meet its operational end goals, and what can actors in the private market learn from the government’s embracing of emerging tech?
It all comes down to privacy
Like so many other innovations currently driving today’s economy forward, conversations surrounding big data inevitably come down to the data privacy of individual users. When it comes to information security and the privacy of digital users, the IRS is taking big data seriously; the agency has embarked on employing data analytics to better identify fraud in recent years, for instance, and is beginning to make available to the public using digital tools that can be helpful when it comes to mitigating data conundrums.
A recent breakdown of the IRS and how its approaching modern data R30;