Whose information is it, anyway?

We submit information to vendors and such on a regular basis, in order for them to provide us the products or services we requested and to maintain contact with us.  Who owns the rights to that data, and can the vendors use it for reasons other than those for which it was collected?  Well, the simple answer is, they do use it for other purposes.  But is that kosher?

“AIG’s New Tack: Data Into Dollars,” Wall Street Journal, August 30-31, 2014, B1.  AIG plans to mine the “vast reams” of data it has about its customers to reduce its costs and increase its profits.  Perhaps the customers will see lower premiums.

I’m all for using data analytics on data you own, provided there aren’t other limitations.  But do the Europeans have it right in their Privacy legislation that restricts the use of the personal data supplied to the purposes for which it was supplied?  How to share fairly the value that the use of that information adds?

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Filed under Analytics, Business Case, Controls, Information, Ownership, Privacy, Risk, Use, Value

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