These are exciting times for marketers. The opportunity to engage consumers with relevant brand experiences based on their immediate context has never been greater. Everyone and everything is generating data, creating an explosion of new data types at unprecedented volumes. And more companies than ever are monetizing their data assets and forming partnerships to combine data with others in a privacy-compliant way.
Our world is increasingly data-driven, and the companies with the best ability to access and use data are in the best position to win over time. Since consumers only share data with businesses they trust, the most important currency in business today is trust itself. And to develop trust, organizations must invest appropriately in data governance and stewardship programs. This includes two parallel disciplines – making sure data is protected through appropriate security controls and making sure data use is ethical.
The regulatory landscape is also evolving quickly. The new pan-European General Data Protection Regulation (GDPR) will come into force May 2018. GDPR is a game-changing law that impacts any business with European data centers or audiences. It requires accountability when a company controls data or processes it on behalf of others, and it gives individuals more data protections and privacy rights than ever before.
We are using GDPR as an opportunity to strengthen our data governance program, and we recommend that our clients and partners do the same. With the right approach to data governance, companies can build consumer trust and take advantage of new innovations that harness data to create engaging consumer experiences.
Together Frank Caserta, Acxiom’s Chief Security Officer, and I have put together a short document that outlines Acxiom’s current data governance program and steps we’re taking to get ready for GDPR. We’ve also created a ‘Top 10’ checklist for clients and partners to help everyone identify actions they can take to make investments in data governance strategic during this critical time.
Please click on this link to download our short guide, titled – Why Data Governance Matters Now More Than Ever – And What to Do About It.