By Andrew McDevitt, senior privacy consultant at TRUSTe
This article is based on a presentation “Privacy in the Digital Age- Avoiding Consumer Backlash: Smart Marketing Practices for Collecting Customer Data while Improving Personalization, Trust and Transparency” which was delivered by Andrew McDevitt, TRUSTe at “The Customer Centricity Summit,” sponsored by Knowledge@Wharton, the online business journal of the University of Pennsylvania’s Wharton School.
For companies, knowing how to effectively identify and understand valued customers through the use of predictive data analytics, customer lifetime value programs and location data technologies is essential for growth. Of course, the privacy implications of amassing consumer data should also be a major concern for companies.
Addressing more than one hundred senior level data marketing executives at a conference in New York City earlier this month I discussed the various data protection and trustworthy computing implications of these consumer-centric business practices.