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#CIOChat: Balancing consumer privacy with data monetization

Does profiting from big data come at too much of a price to consumers? Join #CIOChat on June 24 at 3 p.m. EST to discuss balancing data monetization and consumer privacy.

As enterprises begin to monetize the information they collect, one thing becomes clear: big data can lead to big profit.

We're already starting to see the data monetization concept take hold as credit card companies sell data about customers' purchasing habits and healthcare systems amass treatment regimen information in a bid to cut costs. Government data is made increasingly available through transparency initiatives, and has become a valuable asset for constituencies ranging from urban planners to mobile app developers.

But before organizations give in to the impulse to exploit data, they need to consider the other side of the coin: the security and privacy of their customers. The more data that's collected and exchanged, the more opportunities there are for personally identifiable information (PII) to be exposed.

Enterprises must find a way to balance the need for consumer privacy with the business benefits of data monetization, all while staying on the right side of the law.

Join our #CIOChat on Wednesday, June 24, at 3 p.m. EST to discuss data monetization and consumer privacy in the enterprise. Discussion may include ways to ensure consumer data protection, how to securely extract value from data, who owns the economic value of the information and the privacy risks of exploiting consumer data.

IT and business strategist Harvey Koeppel will be joining the chat as our guest expert. Koeppel is the president of Pictographics Inc., a management and technology advisory and consulting services firm, vice chairman of the World BPO/ITO Forum, and is a distinguished voice in technology leadership and innovation.

SearchCIO editors will lead the event from the site's Twitter handle, @SearchCIO, joined by Koeppel and other TechTarget editors, writers and followers. Follow the discussion hashtag, #CIOChat, to chime in.

Details

Date: Wednesday, June 24, 2015
Time: 3 p.m. EST
Host: @SearchCIO
Hashtag: Use and follow #CIOChat

Tweet chat newbies (and #CIOChat vets, too!), please review this list of tips before participating in the chat:

  • To follow the conversation, type "#CIOChat" into Twitter's search bar. From this page, select "All" to view tweets in real time.
  • Your first #CIOChat tweet should be introductory, including your name, title and organization.
  • @SearchCIO will ask a series of questions related to consumer privacy and data monetization starting at 3 p.m. EST (Q1, Q2, etc.). In your tweeted responses to each question, please preface with A1 (Answer 1), A2 and so on, then remember to include "#CIOChat." Include this hashtag in every tweet during the chat.
  • Please note that Twitter allows only 140 characters per tweet. You are welcome to tweet multiple responses to each question.
  • Throughout the discussion, retweet (RT) and favorite tweets you concur with and reply to those you disagree with.

Please direct questions, RSVPs or other concerns to our editors. Talk to you on Twitter!

Next Steps

For more on balancing the need for consumer privacy with the desire to monetize consumer data, check out this recent blog post written by Jeff Whited, senior manager of education development at ARMA International. Then find out how the latest government breach could have affected private citizens' data.

Dig Deeper on Enterprise data privacy management

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Do you think data privacy and data monetization can equitably coexist? Why or why not?
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They can, but it's on a graduated scale. The more privacy you have, the less money you can make, and vice versa. So you just have to decide where on the scale you want to be. 
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