Customer data—Walking the line between helpful innovation and invasion of privacy
Everyone is worried about privacy these days. More information about you exists in more places today than ever before in history.
Collecting and using customer data is not a bad thing. Organizations need that data to deliver products and services customers want. The issue is where to draw the line between using customer data to deliver helpful new capabilities and invading customer privacy. The October 11 episode of Modern Workplace provided guidance on how organizations can manage these tricky policy decisions.
Hillery Nye, chief privacy officer at Glympse, explained how the startup company made a very conscious decision to not collect data that it could have easily gathered from its real-time location sharing app. The company collects customer data and uses it for very specific purposes, but it never stores that data. The company may have given up some opportunities to monetize its customer data, but Nye feels that the company gains even more by being a responsible corporate citizen and establishing a reputation for privacy. She discussed how a company’s brand is affected by its privacy policies, and how organizations can better align their privacy policies with their business strategy.
The Growth Center does not constitute professional tax or financial advice. You should contact your own tax or financial professional to discuss your situation.