The influence of data protection policies on how marketers use data comes down to two vital points (MW 18 November): do we really need to collect personal data and if we do, how do we keep it secure?
While accurate information is a priority for brands in acquiring and retaining customers, much of the time they have no use for the personal data that poses the most theat to the consumer’s security.
Marketers can help protect themselves and their customers by understanding exactly where the value of data is found.
A single, detailed piece of personal information is of no use to anybody, except criminals. But 10,000 or more items of anonymous data, such as customers’ purchasing histories or online activity, can provide near-infinite information on trends, viewpoints and opportunities in the general population.
By understanding where the value of data lies, marketers can remain a step ahead of data protection laws and avoid putting themselves in a compromising position.