RISKY BUSINESS
currently a relatively new field. Information for customer and citizen intelligence ini- tiatives will come from multiple sources: personal identifiable information (PII), ag- gregate data sets, publicly available infor- mation sources, information from privately held databases, and, increasingly, from multiple individuals about other individ- uals (e.g., peer referrals). As such, pri- vacy, or the ability of individuals to control access to, and manage, their “digital foot- print,” will become an increasingly com- plex issue for organizations as data flows through multiple channels, individuals, in- dustries and countries.
Successful organizations are now viewing privacy as a strategic enabler to their information management agendas. They are covering off issues, such as over- lapping or competing privacy laws and reg- ulations and capturing and managing customer consent and information at their electronic storefronts. This is a clear depar- ture from viewing privacy as limiting or pre- venting the implementation of innovative
initiatives. A growing number of organiza- tions are investing in privacy practitioners who not only understand privacy laws and regulations in specific jurisdictions where they do business, but also understand and support the business’s unique marketing plans and, increasingly, their plans for new information management and information technology initiatives, including the use of social media.
In an age of heightened security threats, privacy officers and chief infor- mation security officers need to work in step to ensure the appropriate balance between privacy and security, a task that is often fraught with potential conflict. Many of the same tools that enable pri- vacy online are now helping criminals or- ganize some of the largest theft and fraud rings in history.
Having made a heavy initial investment in privacy, executives should reap the re- wards of their privacy infrastructures, while growing volumes of data with the op- portunity for highly refined marketing ac-
tivities, continued fiscal pressures and an increased focus on information security have the potential to erode the value of privacy in their organizations. As data pro- liferates and the economy stabilizes, or- ganizations that view privacy as a strategic enabler to their business will come out ahead by virtue of having a mature infra- structure for the identification and man- agement of privacy issues.
A by-product of this mature state is a demonstrated respect for individuals’ rights to protect and participate in deci- sions concerning the management of their personal information that will ultimately re- sult in increased customer trust, trans- parency and loyalty over the long run.
Miyo Yamashita is a partner at Deloitte (
www.deloitte.ca) and the national privacy solution leader, and Don MacPherson and T
ara Perverseff are privacy specialists at Deloitte with expertise in informatics, pre- dictive data analytics, online marketing, risk and compliance.
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