World Economic Forum and A.T. Kearney Release 2014 Personal Data Study

NEW YORK, May 13, 2014 /PRNewswire/ -- Today, the World Economic Forum, in partnership with global management consulting firm A.T. Kearney, released the 2014 edition of its ongoing research on personal data. This year's study, titled "Rethinking Personal Data: A New Lens for Strengthening Trust," develops on previous years' studies exploring the breach in public trust over the collection and use of personal data.  The comprehensive report defines actionable frameworks that balance individual rights with the potential benefits that innovative uses of data analysis can yield, and defines actions aimed at regaining consumer trust.

The broad findings of the study can be summed up as follows:

• Transparency is a key component of trust, but is double-edged: too little transparency is detrimental to building trust for individuals; but overwhelming people with unworkable volumes of information is also ineffective.  Meaningful transparency requires providing individuals with clear information and choices.
• Accountability, a key tenet of personal data usage since the founding of the Fair Information Practice Principles in 1979, needs to be more clearly defined in order to drive more effective governance.  Approaches to accountability need to more clearly articulate responsibilities for actors throughout the data value chain.
• Individuals figure prominently in the report, strongly indicating that empowering individuals by giving them clear choices over the use of their data is at the core of building trust.
• Value creation needs to be as clear a proposition for the individuals that provide the data, as it is for the organizations that collect it.

Naveen Menon, A.T. Kearney partner and ongoing adviser on the World Economic Forum research, notes, "This year's study takes us beyond the observation that data collection is out of balance and that people feel increasingly powerless. It suggests that a solution exists in a multi-pronged approach that enables businesses to more equitably distribute the value offered by personal data. It has been a big year for public disclosure about personal data collection, at the highest levels; now it's time for businesses and individuals to acknowledge the delicate balance that exists in the digital world we have created: too much control over personal data use will shut down opportunities, and too little leads to distrust. This ongoing study by the World Economic Forum has given organizations and individuals the chance to collaborate in finding solutions, and determine a better approach going forward."

For a copy of the full report, please go to 
http://www.atkearney.com/about-us/world-economic-forum/rethinking-personal-data

About the World Economic Forum Rethinking Personal Data Study
Now in its fifth year, the World Economic Forum's Personal Data project has explored the meaning and use of personal data in the hyper-connected, dynamic global environment.  The project engaged a multi-stakeholder working group, including participation across government, the private sector, civil society, and academia.  William Hoffman, Associate Director and Head of Data-Driven Development at the World Economic Forum, leads the Rethinking Personal Data initiative. Under the leadership of Naveen Menon, partner based in Singapore, Reuben Chaudhury, partner based in New York, and Justin Shepherd, consultant based in Washington D.C., A.T. Kearney serves as the project adviser for the 2014 study, and continues to advise through the 2015 study.

About A.T. Kearney
A.T. Kearney is a global team of forward-thinking partners that delivers immediate impact and growing advantage for its clients. We are passionate problem solvers who excel in collaborating across borders to co-create and realize elegantly simple, practical, and sustainable results. Since 1926, we have been trusted advisors on the most mission-critical issues to the world's leading organizations across all major industries and service sectors. A.T. Kearney has 59 offices located in major business centers across 40 countries.

To learn more about A.T. Kearney, please visit http://www.atkearney.com.  

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SOURCE A.T. Kearney

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