IG for making good big data decisions.
Position | Information governance |
According to a recent Legaltech News report, the challenge for organizations in our app-ified world--in which we are "addicted to the predictive, persuasive, instant gratification that that the Digital Trinity [mobility, social media and advanced analytics] delivers"--is not the volume of data being produced; it is consumers' growing expectations that organizations act upon their data.
To remain relevant, organizations must use data to provide better customer service, personalized offers, and highly targeted ads. At the same time, they must avoid doing anything that might be considered too invasive or manipulative. So how do they exploit the value of data without alienating the people with whom they're trying to connect more personally and deeply?
Legaltech News says organizations should consider how their use of customer data can affect their offerings, their reputation, and their brand. The report offers the following guidelines for that decision-making process:
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Establish appropriate-use guidelines. Consider creating a cross-sectional committee of stakeholders, including marketing, legal, HR, and customers, to ensure that data use is consistent with the organization's values, societal norms, and customer expectations. Consumers often won't provide their data to entities they don't trust.
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Be transparent. Policies for collecting and using data should be transparent, understandable, enforceable, and current. Real-time notification should be standard, and customers should be told how and when their data is being used.
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Establish meaningful information...
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