Tracking and restricting the freedom of criminals is critical to a healthy society.
That said, if it makes you feel better, Palantir already likely has, or can infer/calculate, your geolocation in any case. So this isn’t necessarily giving anything new away. All it does is highlight the creeping trampling of our privacy rights.
Under such an excuse, any type of extreme measure is similarly allowed.
In fact, why not go full Suicide Squad and strap bomb/shock collars to every person on Earth?