Facebook unveils 'Study' market research app, says they'll compensate participants

Facebook unveils 'Study' market research app, says they'll compensate participants

Facebook unveils 'Study' market research app, says they'll compensate participants

Kaltbaum Capital Management CEO Gary Kaltbaum, Capitalist Pig Hedge Fund manager Jonathan Hoenig, FOX Business' Kristina Partsinevelos and FoxNews.com columnist Liz Peek discusses how Facebook is designing "emotional" robots to help users make new friends.

Facebook said it would "collect and analyse" information, that would include apps installed on a participant's phone, the amount of time spent using those apps, and the user's country, device and network type. Study for Facebook will send out ads to people residing in USA and India from where they can sign up for the program. The app will be used to help the company conduct market research and all participants will be paid. They will of course need to read the description first about what they'll be sharing with Facebook and how the app will work. Once invited, they'll find the Study from Facebook app in the Google Play Store.

Obviously, with Facebook's patchy track record, you might have some questions before joining the "Study" program.

The firm says it'll compensate users for the participation in the app, and limits it to 18 years and older (though it notes ominously that this is at launch.) Facebook's Study app will only be available to people in India and the United States t launch, but the firm will expand its availability over time. The company also said it will not sell any information it collects via the app to third parties or use it to target ads.

The social media giant is introducing a new scheme - available only to subscribers in the United States and India - which will pay specific users for sharing their internet habits. It also may collect user information that Facebook has obtained from third-party sources. And yes, participants will be able to opt out at any time. So, unless security experts give this app the green signal, I wouldn't recommend you install it - even if there's real money to be earned from it. A Facebook account isn't required. With its previous research app, Facebook paid users $20 monthly in gift cards.

The Mark Zuckerberg-led company, which announced the initiative in a blog post on Tuesday, said Study won't see any specific content - text messages, photos, videos, passwords or websites - you visit. Facebook's mismanagement of user data has been a thorny issue for marketers.

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