A Brief Guide to Legal Issues for Data-Miners
Source: Bank of America
Any competent data-miner should have already acquired strong technical skills. However, an outstanding data-miner will also understand the legal aspects of data analysis. It is because empirical analysis in the business world requires not only quantitative mastery but also strong business sense. This paper will provide an overview on several legal issues (consumer credit, investment strategy, and privacy) surrounding data mining for financial institutions, brokerage firms, and pharmaceutical companies. The authors are not trying to write a comprehensive guide for data mining practitioners; the purpose of this paper is to make the readers calling for their compliance and legal departments of sound direction, because, "Tomorrow is a busy day".