In the latest edition of the Accountantweek magazine Monique van Dijken - Eeuwijk reflects on the seemingly contradiction between Big Data and data analytics and privacy of individuals. Big data and data analytics are here to stay, but, Monique argues, to max out on the potential of Big Data and unlock this potential via data analytics, trust in society regarding companies processing (personal) data and their promises with regard to privacy protection is key to create shared value.
In view of building trust and creating shared value, Monique reflects on measures that may lead to the protection of privacy of individuals without harming Big Data's and data analytics' opportunities. In her view, these measures can be found in the field of accountability since transparency, control and taking responsibility by companies are reunited in this concept. Examples of such measures, Monique states, are privacy impact assessments and the concept of Privacy by Design. In essence, these measures relate to companies addressing privacy requirements in the development phase of new services or products and in the early design of Big Data and data analytics concepts and applications.
But above all, Monique states, in any development phase and in any design, it is about taking into account the company's stakeholders' expectations. These expectations not only relate to the protection of their personal data, but above all to the protection of their personal life, privacy and the say they have in that respect. Transparency and the conviction that the company upholds its promises are key, Monique says: 'With maturity of Trust, comes greater value'.
Read the entire article on Accountantweek.