Ethical Considerations in Data Analytics: Challenges, Principles, and Best Practices

Abstract

Introduction

In the era of data-driven decision-making, ethical considerations are central. This chapter examines the complex ethical landscape of data analytics, addressing challenges such as privacy and bias. It outlines guiding principles and best practices, aiming to foster responsible data stewardship and uphold integrity in an increasingly interconnected world.

Purpose: The main aim of this study is to explore the ethical dimensions of data analytics, addressing key challenges, principles, and best practices in various sectors of society.

Methodology: The study explores the ethical dimensions of data analytics using multi-faceted approaches. Since, new dimensions have to be explored, the study chosen is exploratory.

Findings: This study explores the ethical dimensions of data analytics. Addressing these ethical dimensions requires a multi-faceted approach involving technical, organizational, and regulatory measures. By proactively identifying and addressing ethical challenges, organizations can foster trust, accountability, and responsible innovation in data analytics. Additionally, ongoing dialog and collaboration among stakeholders are essential to navigating the complex ethical landscape of data analytics effectively.

Implications: This study on ethical considerations in data analytics serves as a valuable resource for organizations, policymakers, educators, and society at large. By integrating ethical principles into data analytics practices, stakeholders can harness the transformative potential of data while upholding ethical standards and safeguarding individual rights and societal well-being.

Citation

Sharma, K., Kumar, P. and Özen, E. (2024), "Ethical Considerations in Data Analytics: Challenges, Principles, and Best Practices", Taneja, S., Kumar, P., Reepu, Kukreti, M. and Özen, E. (Ed.) Data Alchemy in the Insurance Industry, Emerald Publishing Limited, Leeds, pp. 41-48. https://doi.org/10.1108/978-1-83608-582-920241008