Did you know that there are aggregators that collect information about your online activity and sell it to various companies? Basically, whatever you post on Facebook, Twitter, or as a blog comment could be used against you. Therefore, you might want to be more careful about what you publicly post online and who you are friends with on social media networks.

Most internet users don't have any idea that when they post a comment on a blog, that comment may be saved in a database. Data mining companies save social media data such as blog comments and study it in order to uncover behavioral patterns. By doing so, companies can make more strategic decisions and better serve their target markets.

Some people, especially those who work at companies that use data mining, think there's nothing wrong with collecting and saving social media data. After all, all of the information being collected is public anyway. It's not like these companies are sneaking into your hard drive and stealing private information.

Who Uses Social Media Data Mining?

The types of companies that use social media data mining include airlines, non-profit organizations, political organizations, and banks. Consumers worry that the data will affect their credit report, since credit card companies use it to identify who their best customers are.

It's important to note that social media data mining does not give companies access to your credit report. These companies are only collecting public data, which cannot affect your credit score. What social media data mining does alter, however, is what credit you are offered and what credit you ultimately receive.

In addition to mining the data that you post publicly on social media networks, blogs, and forums, data mining companies also take your online contacts into consideration. For example, a credit card company will ascertain that you are a good credit risk if your social media contacts are overall a good credit risk.

Still, many consumers worry that social media data mining can be used against them and affect their ability to get loans. But according to lenders, social media data mining actually benefits customers because it prevents fraud. Lenders say that they compare application information from a credit file with online user data.

Tips for Protecting Your Privacy

If you don't want your social media data to be mined, consider making your profiles private on social networks like Facebook and Twitter. By making your profiles private, anybody who isn't on your contact list will not be able to read your personal information and what you post. If you want to keep your social media profiles public for whatever reason, be very careful about what you post. Avoid posting anything that you wouldn't want your mom or boss to read. Furthermore, don't make silly remarks that could be taken out of context.

In addition, be careful not to friend just anyone. You don't want to be associated with people who have questionable reputations, and you want to be sure that everyone you're friends with online sheds a positive light onto you. So, be wary of accepting random friend requests, and eliminate unnecessary contacts from your social media friends lists.

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