Privacy Dividend
The ICO is seeking to determine, and publicise, the real value of businesses adopting adequate data protection policies
Christopher Graham, the Information Commissioner, has urged organisations to put a value on personal information and invest in privacy protection. Speaking at the Data Protection Officer Conference in Manchester on 3 March, he said ‘No organisation can neglect to protect people’s privacy. Not only is it the law, but there is also a hard headed business imperative’.
The Conference was also the scene of the ICO’s launch of a report, The Privacy Dividend, which provides organisations with a financial case for data protection best practice. The report explains how to put a value on personal information and assess the benefits of protecting privacy. It includes practical tools to help organisations prepare a business case for investing in privacy protection.
Christopher Graham commented: ‘This report provides organisations with the tools to produce a financial business case for data protection ensuring privacy protection is hardwired into organisational culture and governance.’
According to the ICO, The Privacy Dividend offers practical tools to help organisations prepare a business case for investing in privacy protection, including:
•guidance on the steps involved in a privacy protection scheme to assess the costs and benefits
•guidance on creating business cases for implementing a new system or changing an existing system
•calculation sheets to assess the value of personal information and put figures to the business case.
Watson Hall Ltd and John Leach Information Security Ltd (JLIS Ltd) were appointed to undertake a three-month research project and produce The Privacy Dividend. A copy can be downloaded at http://www.ico.gov.uk/upload/documents/library/data_protection/detailed_specialist_guides/privacy_dividend.pdf.
Published: 05/03/2010
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