Chapter 72. Data Ethics—Three Key Actions for the Analytics Leader
John F. Carter
The topics of data privacy and data ethics have grown significantly in importance over the past few years. This development has been driven in part by new legislation such as the EU’s GDPR and the CCPA, laws that are intended to provide more control, transparency, and ownership of data to individuals. These new laws, in addition to more new legislation on the horizon, could significantly limit the use of data, which could thwart innovation and impact our ability to provide valuable data-driven services to customers such as preventing fraud, providing relevant personalized products, and improving customer service. We should be very worried about these trends, especially as we are now seeing how massive amounts of unstructured data combined with artificial intelligence can provide tremendous improvements in client experiences as well as create new business opportunities.
It is critically important that companies get ahead of the curve and take proactive steps to drive data ethics guidelines and best practices into their businesses. Many companies have appointed an individual to oversee the use of corporate data, giving them a title such as chief privacy officer, chief data officer, or chief compliance officer. These individuals have focused mostly on the ...