From the course: Understanding and Prioritizing Data Privacy

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Data is valuable and creates new economies

Data is valuable and creates new economies

From the course: Understanding and Prioritizing Data Privacy

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Data is valuable and creates new economies

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- Data privacy is often viewed as a regulatory burden, but when approached thoughtfully, it can elevate data to create significant value and foster new, more innovative markets. By treating data carefully, organizations can turn raw data into valuable insights and actionable information. Data has become currency and its value changes with context, geography, and time. The value derived from data hinges on the willingness of the individuals to share their information and the quality of that information. For example, companies like Apple have made privacy a cornerstone of their brand identity. By implementing robust privacy measures and ensuring that user data is not exploited for advertising, Apple has encouraged customers to engage more deeply with its services and push away from its competition. The result is a wealth of user data that can be analyzed to improve products and services while maintaining customer trust and engagement. Medical research institutions use aggregated, salted…

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