Fatemeh Khatibloo spoke about Contextual Privacy at the BIIA 10th Anniversary Business Information Conference last year. Fatemeh sent us an excerpt of an updated Forrester Research report in which she accentuates her previous message to our members and their clients.
The Risk: Poor Privacy Practices Will Kill Your Business
Maybe you don’t believe you can or should differentiate on the basis of privacy. Or perhaps you think you don’t need to get started right now because, hey, the Internet giants aren’t exactly racing toward the “good privacy” finish line. But unlike Google and Facebook, most firms don’t have a virtual monopoly on their business model. If, like the vast majority of companies, you sell consumer products or services in an increasingly competitive global market, getting privacy wrong poses tremendous risk to your business. Over the next few years, companies that don’t have consistent and transparent organization-wide privacy practices in place will suffer.
Contextual Privacy Can Be a Business Differentiator
Contextual privacy is a business practice in which the collection and use of personal data is consensual, within a mutually agreed upon context, for a mutually agreed upon purpose. Companies that embrace contextual privacy can differentiate based on treating their customers with more respect. Those that don’t risk regulatory and publicity problems and consumer driven backlash.
Better Practices Today Include Transparency, Choice, and Caution
Practice a discipline of “no surprises” with your data. Enable customers to make informed choices about the data you collect. Collect only the data you need and store it no longer than you need it.
To order this report click on this link: Forrester Report
