Heidrick & Struggles: A Balancing Act - Monetizing Data While Protecting Consumer Privacy
Data is the currency that fuels almost every business today. It has become a truism—but is no less true—that the astounding amount of data produced through social media and financial transactions means that the most overriding and compelling issue of our time is how organizations should collect, store, and use data. This issue underpins the rapid increase in the visibility of the chief data officer (CDO).
Professionals in this role are increasingly responsible for assessing how consumers’ information can be used to a business’s advantage (i.e., monetized) while still protecting the consumer at all times. This requirement to use data fairly and in the best interests of the customer raises issues of ethics and conduct risk related to data usage.
This white paper, by Joshua M. Clarke and Julian Ha of Heidrick & Struggles, covers the overlap between the Chief Data Officer (CDO), Chief Privacy Officer (CPO), and Chief Information Security Officer (CISO) roles.