GDPR: Valuing data, assessing risk and consent services

Stephen Cameron

Journal of Data Protection & Privacy, 2018, vol. 2, issue 1, 41-52

Abstract: The biggest challenge to business is not having a way to determine which data to save or delete based on its value. Four out of 10 businesses are more concerned by penalties while three out of 10 consider that media coverage will severely affect their brand and customer base. This paper aims to address these concerns by providing an approach to understanding information risk and value in order that a clear plan can be drawn up that manages media communications to control exposure to both penalties and brand/customer losses. This paper will provide the reader with the criteria for identifying business value, establishing responsibility for risk and managing identity. Specifically it will outline: how to carry out an assessment on personal information that recognises quality criteria, process risks and business value in a virtuous cycle; how to educate an appreciation of information risk to the individual especially within the context of a breach notification; and what the market may demand of services to manage trust and transparency including the provision of a pseudonymous identity to reduce risk.

Keywords: anonymity; consent; valuing data risk (search for similar items in EconPapers)
JEL-codes: K2 (search for similar items in EconPapers)
Date: 2018
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