Have you ever shopped online on one store, and then later when you are online, at a completely different website, ads for the website you bought something at keep coming up? Well that is because an online profile was created for you. Companies can track what you search and buy and then direct there products on you further.
As I mentioned companies created a profile for you, but majority of people don't realize it happening. The companies have access to everything; racial background, ethnicity, age, birth date and more. These I do not necessarily see as a problem, most of this information can be found on ones social media accounts. It is already out in the world and everyone can see it. The problem is really created when financial and medical records are taken. This are sincerely personal information and is usually kept to one person or a select few that one is okay knowing. It is called personal information for a reason, it is not for the world to know.
This is the big struggle between safety and privacy. In the broad scheme of things it might be impossible to have both. If a happy medium could be found, so people are being protected but at the same time have the most personal information kept quite, I believe it would work the best.