TRUATA

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The future of privacy:

a balancing act

Trust.

It’s one of the most valued commodities in business
today. Could privacy hold the key to unlocking greater
trust between businesses and consumers?

We think it can. But first we need to understand the
imbalance in that relationship today, and what needs
to change…

An unfair trade

Today, data is more than
a piece of
information; it’s
a unit of value
exchange.

Consumers have it;
companies want it. Data

enables brands to
personalize services and
meet
consumer needs.

But this has created a digital
dichotomy: as the
value of data has
rocketed, corporations have
profited at
the expense of
privacy, with individuals giving away
more and more of their personal information – sometimes
unwittingly. This ‘monetization’ creates an imbalance.

Consumer

trust erodes

The data explosion and
scope creep have
pushed the
line too far in favor of the

companies harvesting data.



Practices like over-collecting
and monetizing data
without
consent, misuse of data, or a
lack of clarity
about how and

why organizations were
collecting data,
have
damaged consumer trust.

Privacy policies filled with
pages of legal jargon go

against the spirit of
transparency.

Netflix

In 2007, researchers successfully de-anonymised a dataset of the video streaming company

Adtech

ICO 2019 investigation finds one visit to a website “can result in a person’s personal data being seen by hundreds of organisations”

Netflix

Data gathered from a Facebook personality test ended up being used to profile voters in political elections

Netflix

In 2014, an employee used ‘God View’ to track people’s real-time locations

Regulation to

the rescue?

Governments the world over
are starting
to realize that
privacy is a fundamental

human right.

Regulations enforce that right
and enshrine it in law.


They remind companies to do
the right thing – to
collect
and use data appropriately,
ease the burden on

consumers and give easy
ways to opt out – and
enforce
the rules for those that don’t.

2018

EU General Data Protection Regulation

2017

India’s Government recognises privacy as a right

2023

By this date, Gartner estimates that 65% of the world’s population will have their personal information covered by modern privacy regulations.

2020

The California Consumer Privacy Act

The consent conundrum:

giving back control

Now the pendulum is swinging back in consumers’ favor.

More aware of their rights, and about how their personal information is

used for profit, they’re looking for greater control over their digital self.

78%

Consumers have taken steps to reduce their digital footprint

Consumers have taken steps to reduce their digital footprint

66%

Consumers are more likely to be loyal to a brand they trust to use data appropriately

Consumers are more likely to be loyal to a brand they trust to use data appropriately

65%

Consumers would stop using brands that don’t behave responsibly with personal data

Consumers would stop using brands that don’t behave responsibly with personal data

What if there was a better way?

Privacy-enhancing technologies (PETs) have the capability
to deliver the insights without identifying the individual.

PETs can protect privacy, but they need to be used with care as a configuration that favors analytical utility may result in privacy risks being retained. Having the ability to measure and mitigate the hidden privacy risks in a dataset is essential.

Privacy-by-design

Key strategies for privacy-by-design include separation and hiding of personal data, aggregation, minimization and abstraction to ensure re-identification cannot occur.

De-identification

A process that removes direct identifiers and
transforms other values to prevent personal identity
from being revealed during research that uses data.

Mindful data mining

Responsible data analysis that delivers social good and
maintains individuals’ data protection rights.

Independent anonymization

Technological, structural, legal and organisational
safeguards to ensure the true anonymization of data
striking the balance between privacy and utility.

Pseudonymization

Where full anonymization is not required or
possible, pseudonymization has several incentives
under data privacy regulations.

Synthetic data

Data that is generated to resemble an original
dataset. May contain privacy risk depending on
similarities to the initial source.

The future

of trust

Privacy is dead, or so they say.

We respectfully disagree.

It is possible to deliver memorable
and personalized customer service,
delivering a real business benefit,
while still protecting privacy and
personal data.

It is possible to strike this
balance
when companies act
responsibly by:

Being transparent and ethical

Embedding a culture of privacy

protection into their DNA

Treating personal

data with respect

… then the consumer’s trust is
earned. In the new world,
privacy isn’t a compliance
overhead. It’s a competitive
differentiator.

“Brands are now able to build ever more detailed profiles of us from our digital footprint, but when it comes to using our personal information to build relationships, there is clearly a fine line between being helpful and behaving ethically, to being invasive and creepy.”

Felix Marx

Chief Executive Officer, Truata

“Safeguarding privacy and human autonomy is going to be one of the most important challenges of the fourth industrial revolution.”

Bernard Marr

Author, futurist and technology advisor

“The public are using their voice. It is now in the hands of companies to address how they use this data, build trust with the public and protect our digital selves as we embrace innovative use of data in the future.

Jules Polonetsky

CEO, Future of Privacy Forum

Understand your
privacy risk

The Truata privacy risk assessment helps you explore your unique data
sets and identify any areas of risk, so that you can maximize your data’s
value without compromising customer privacy. We’ll also look at the
impact that evolving regulations have on your organization, and the
opportunities they create.

A three-stage workshop then identifies, examines and qualifies your
analytical processes. We’ll help you develop a privacy-enhanced data
strategy for analytical use cases, based on best practices for data
management and analytics.

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