The Use theme

What information do you have?  Does making money require you to hide that information, or can you just rent it to others? Is it your information? Can you just use it?

“SEC Is Examining Pricing at Pimco,” Wall Street Journal, September 24, 2014 C1. Allegations: Pimco bought at one price and then reported value at a higher number, pumping up the fund’s performance.  So they knew what they paid but didn’t report that to the market;  instead, they reported “value,” which is different.  Were investors misled?

“Apple’s Latest Marketing Pitch: More Privacy,” Wall Street Journal, September 24, 2014 B1.  Fresh on from the celebrity nude video breach of iCloud, Apple says one thing but appears to do another.  “‘We don’t ‘monetize’ [your] information….'” But then iAd sells the ability to reach target demographics based on user data.  Where’s the SEC when you need them?  What information do you have, how do you use it, and how do you tell the market about it? And whose data is it?

“Websites Wary of Facebook Tracking,” Wall Street Journal, September 24, 2104 B1. Does Facebook really monetize your browsing information by allowing advertisers to target you?  Whose information is it, anyway? [Read the user license]  But online retailers are nervous about Facebook’s practices, but for a different reason.  They view information about your visits to their sites as their information.  So, what information do you have and how do you use it to make money?

“Data Breach Triggers Fraud,” Wall Street Journal, September 24, 2014 C2.  Story follows fraudulent uses of credit cards following Home Depot breach.  Is this news, or res ipsa loquitur (a legal term for “the thing speaks for itself; used to establish negligence)Dog bites man?  Or just a bad headline? From an information governance perspective, what happens if your controls fail?  People using your information that you used with a retailer.  To make money.

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Filed under Board, Business Case, Collect, Controls, Duty of Care, Governance, Inform market, Information, Internal controls, Investor relations, Management, Oversight, Ownership, Privacy, Protect, Protect information assets, Risk, Security, Use, Value

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