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Thursday, 17th May 2012

Rethinking Personal Data: Strengthening Trust

Source: World Economic Forum, Boston Consulting Group

From the publication web page:

[This] report suggests that personal data are a tradable asset, like water, gold, or oil. And like these assets, they need a set of trading rules to allow for mining, sharing, and utilization. Unlike tangible assets, however, personal data are not consumed when used. Instead, use increases value because new data elements are accumulated, providing greater insights into individuals. This increased insight, coupled with new data mining and "big data" technologies, often leads to new ways to use and create value. ...

The report aims to foster a debate around some of the key questions that need to be resolved to unlock this value. Who owns personal data? How can privacy be protected? What is the role of context in setting permissions? How can organizations be held accountable? What is the role of regulators?

The report outlines concrete steps that stakeholders can take, focusing on three areas: upgrading protection and security, agreeing on rights and responsibilities for using data based on context, and driving accountability and enforcement. It concludes with a call for leaders to work together to achieve a coordinated yet decentralized approach to this global challenge.

+ Link to full report (PDF; 7.38 MB)


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Peggy Garvin, of Garvin Information Consulting, is the author of United States Government Internet Directory (Bernan Press) and Real World Research Skills, 2009 (TheCapitol.Net). In her 20 years in the information business, Peggy has managed electronic information products and services in a variety of environments, including commercial publishing, e-commerce, law firms, and the Congressional Research Service of the Library of Congress. Peggy's work has been recognized with the 2011 SLA Dow Jones Leadership Award. She has a Masters of Library Science degree from Syracuse University School of Information Studies.

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