When people create personal profiles on a social media site like Facebook, the information they provide is collected, stored and used to help advertisers target their online ads.

A 2010 study by the Pew Research Center suggests that a new generation, the Millennials (those born between 1982 and 2000), has emerged and is influencing our lives as profoundly as Baby Boomers.

Regardless of whether a business has a presence on social media sites, customers are using them to share their experiences, opinions and recommendations about specific businesses, products and services.

Out of 126 million Facebook users in the U.S., almost 40 percent are 35 or over and 11 percent are 55 and older.