In honor of the 20th anniversary of International Data Privacy Day, privacy expert Mitchell Merowitz shares his thoughts about why data privacy is so central to LoyaltyOne’s values, as well as the changing trends around privacy overall.
“Respecting Privacy, Safeguarding Data and Enabling Trust” are the key themes for Data Privacy Day. What do these themes mean for you in your roles at Alliance Data, Epsilon and LoyaltyOne?
Respecting privacy, safeguarding data and enabling trust have long been pillars in our approach to managing and maintaining our relationships with both partners and consumers. Making sure these pillars remain strong at the bedrock of an evolving marketplace is top of mind and key to my role within LoyaltyOne.
Triggered in part these past few years by a massive wave of new technology that continues to reshape the global retail industry, consumers have, and will continue to demand, a greater say in how businesses collect and use personal, transactional and modeled information about them. This isn’t a development for one person, nor one group to address on its own.
By working together — business, technology, marketing and customer experience associates across LoyaltyOne— we’re able to test, learn and, when necessary, recalibrate how we best use data to meet the objectives of our businesses and business’s partners, and respect the evolving interests and expectations of customers and consumers moving forward.
What privacy-related trends do you expect to see in 2018?
Increasing geopolitical differences in policy, jurisdictional regulators’ decisions, court decisions and their global implications on both individuals and organizations and, most importantly, individuals’ evolving expectations to have a greater say about data, will further strain business’ ability to approach and manage data without the interests of the individual at the center of decision-making processes.