Organizations that adopt a proactive, privacy-centric approach will be better positioned to manage regulatory risk.
Author: Aoife Sexton
Aoife Sexton is an expert in data privacy. She works at Dublin-based data anonymisation and privacy-enhancing technology company Trūata as its Chief Privacy Officer. Here, she discusses how the future of data analytics will evolve, how that data can be protected and the danger of “privacy paralysis”.
Companies across all industries are under increasing pressure to become more data driven by expanding their customer data analytics initiatives. However, these initiatives often conflict with – and can be stymied by – evolving data privacy regulations if not proactively dealt with. I’ve spoken with companies across retail, telecommunications, financial services and the automotive industry who are all wrestling with this data utility/data privacy trade-off in key analytical areas such as personalization and predictive modeling. This leaves companies facing what can be an existential question. How can we use customer data to drive new business opportunities while at the same time protect that data and comply with new, complex regulations?