Privacy Expert Warns Businesses: ''Failure to Confront Reality'' of Consumer Fears is Risky
01 März 2006 - 11:34PM
Business Wire
The quest to capture, store and analyze massive amounts of consumer
information offers tremendous opportunities to serve consumers and
grow profits, but cavalier or inappropriate uses of the data could
jeopardize the very future of a business, a leading expert on
privacy and information practices said today. "We live in a time of
growing concern about how information about consumers is collected,
used and protected," Acxiom(R) Corporation Chief Privacy Officer
Jennifer Barrett said. "Failure to confront that reality will put
your brand and profits at risk." Barrett made her remarks today as
a featured speaker at the Reinventing CPG and Retail Summit 2006,
taking place this week in San Francisco, and hosted by Information
Resources, Inc., the leading global provider of enterprise market
information solutions for the consumer packaged goods (CPG),
retail, and healthcare industries. The three-day forum drew some of
the world's senior leaders in consumer packaged goods and retail to
discuss trends, strategies and best practices in their industries.
The privacy expert said failure to follow good data management
practices has not only hurt the reputation of many businesses, it
has sparked consumers' fears and prompted calls for more
regulation. Barrett cautioned executives against being one of the
"few very aggressive companies" that have given consumers reason to
fear how their information is being used - citing the recent sale
of General Wesley Clark's cell phone records over the Internet as
one example. One of the first executives in the nation with the
role of "chief privacy officer," Barrett said companies that seek
to be good stewards of data, while also benefiting from its
potential to achieve greater business results, should follow a
number of practices, including: -- Fully understand the data that
is collected and maintained and how that data elements are used
"from the consumer's perspective." -- Protect any sensitive data -
and make that that the jobs of all employees, not just the security
officer. -- Be candid with consumers, and live up to the promises
you make. -- Screen your partners - particularly data and service
providers - and other vendors more carefully than ever. -- Act
aggressively to remedy and speak with candor if you have a
potentially damaging event regarding data privacy or security.
About Acxiom Corporation Acxiom Corporation (NASDAQ: ACXM)
integrates data, services and technology to create and deliver
customer and information management solutions for many of the
largest, most respected companies in the world. The core components
of Acxiom's innovative solutions are Customer Data Integration
(CDI) technology, data, database services, IT outsourcing,
consulting and analytics, and privacy leadership. Founded in 1969,
Acxiom is headquartered in Little Rock, Arkansas, with locations
throughout the United States and Europe, and in Australia and
China. For more information, visit www.acxiom.com. Acxiom is
registered trademark of Acxiom Corporation.
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