Privacy as a business enabler

Privacy - more than meets the eye

Our world is all about new technologies. Information and personal data are important assets for organizations – now and in the future. This requires careful handling of these data and the privacy involved. If you do, privacy becomes a business enabler instead of a business threat.

Zeros and ones

Digitization is really taking off. We have moved from a world in which human labor was the most important asset to a world in which zeros and ones rule. A world in which (personal) data is becoming the new currency – with some companies actually paying customers for their information. However, as digits and data become more important, so do privacy and data protection. Building trust and value for consumers are crucial for the sustainability of your business model. So are you taking privacy and security into account from the beginning and at every step of the way?

Privacy & Innovation

For Deloitte, privacy has been at the center of innovation for many years. We believe that every organization that wants to remain relevant in an ever changing world, should seriously consider their point of view on privacy.

Concerned customers

Using personal data can be a risk. Many consumers – as well as the media and political parties – are concerned about the amount of data businesses hold on them. Therefore, you should not only take privacy and security into account from the beginning, but also articulate that you have the governance, the processes and the architecture in place to protect consumer data along the way. This is important for long-established companies as well as start-ups. In fact, privacy can make or break start-ups that want to market their innovations, merely by how they have organized their data privacy.

Consumers in control

It is important that you reassure your customers that you take consumer data privacy seriously, both in the sense of compliance and in the sense of ethics. If you want to build consumer trust, you should ask yourself for every new product and at every step of the way: is this allowed, is it possible – and is it appropriate? Your customers need to feel that they are in control of their own data.

Privacy as a business enabler

If, on top of that, you are also able to show your customers that their personal data are used to offer them more relevant and tailored products and services whilst being aware of their privacy, privacy can actually become a business enabler. Which brings us back to the title of our Privacy with a View event. Privacy is definitely more than meets the eye. If done well, it can help you stand out from your competitors. If you are curious about how others are dealing with privacy, or how to deal with a data breach and other privacy related issues, please read our Privacy magazine.

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