Is customer data really safer by companies regulating themselves?
- Nick Halstead
- Oct 2, 2016
- 2 min read
Is this why so few customers trust organisations with their data? Why is data privacy still not always considered paramount? Should data privacy be worth more than a diamond?
A carefully curated summary of the top data-related news from the week:
Headlines
Dropbox and Microsoft follow Google and sign up to the new US-EU data transfer agreement Privacy Shield. But is customer data really safer by companies judging for themselves whether they meet the criteria? 🕵
Insiders say that clashes over costs and fears that added security measures would chase customers away led to Yahoo's inability to protect customer data - and the consequential breach of 500 million users personal information in 2014. 💀👎
Data privacy
Chris Daly's concise summary of the Chartered Institute of Marketing's report on the use of customer data. With nearly 60% of consumers saying they don't trust organisations to use their data responsibly, the proposed solutions are worth a read. 🙅
Insightful infographic by Veritas drawing attention to the risks and frequency of data hoarding - especially worthwhile as avoidable data storage and management issues are estimated to cost organisations $891 billion globally by 2020. 💰💰💰
Is private data the ultimate luxury good? A new line of jewellery co-created by the co-founder of The Pirate Bay showing why perceptions of data value and customer information are outdated in the digital era - interesting way to visualise data privacy. ☠💅
Data sharing
Seemingly skyrocketing Snapchat can now share users behavioural data with companies to generate targeted ads, such as specific geofilters and sponsored lenses. 📸 Will Snapchat CEO Evan Spiegel stand by his opinion that targeted ads are 'creepy'? 👀 Discussion by Ross Benes.
Worthwhile read by Sue Siegel on the inevitable digital transformation of healthcare through sharing data and the shift towards the emerging era of a patient-led directive. 🏥
Weave uses social media data to inform sanctions screening, for example by exploring and sharing a persons known associates online. Notably, it can also help B2C companies by reducing the number of false credit card declines. 🛍
Miscellaneous
A $37,500 day in the life of a luxury technophile - a somewhat comical look into the future? 😎
