Privacy leaders are in the eye of a perfect storm. Influencers and influenced alike can benefit from situational awareness and recognizing different approaches commonly used by advisors.
Data and Privacy in a Perfect Storm
Some of today’s most successful and valuable businesses are relatively young and rose to the top based on innovative data processing and usage. Large, established enterprises watched in disbelief as their business models and markets became disrupted by companies barely 10 years old: Print media, retail chains, taxicabs, travel agencies, video rentals and many more. Fighting for survival, established businesses sensed an urgent need to collect and monetize more data for themselves.
But, most started too late and moved too slow, and at a time when the winds were already beginning to shift again: Just as print media journalists were getting traction with amplifying global tech-lash and consumer privacy agitation, their own companies’ executives began to embrace cutting-edge digital advertising technologies that tracked, traced and traded consumer data full throttle. Meanwhile, old school retailers attracted regulatory scrutiny for intrusive “community market research” programs and major security breaches.
