Marketing in the C-Suite: How Responsible Data Stewardship Drives Business Leadership. March 19, 2014
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1 Marketing in the C-Suite: How Responsible Data Stewardship Drives Business Leadership March 19, 2014
2 Your Panelists JoAnne Monfradi Dunn President & CEO Alliant Sal Tripi AVP, Digital Operations & Compliance Stephanie Miller SVP, Member Engagement
3 Why Data Stewardship Matters March 19, 2014
4
5 Advancing and Protecting Responsible Data Driven Marketing
6 The raw material of effective marketing
7 The Data-Driven Marketing Economy $156 billion 675,000 jobs 70% Due to exchange of data across the ecosystem ($110B) Source: DDMI, Value of Data, Oct 2013,
8 Access to Consumer Data is a Privilege» That privilege is under attack. Strong data stewardship is a pre-requisite for continued access to the data we need.
9 Builds customer trust through:» Purposeful data governance;» The intentional collaboration of all data stakeholders to insure accurate, safe, and responsible use of the data;» The long term sustainability of both compliance behavior and business strategy in a sea of changing technology, laws, and regulations What Is Data Stewardship?
10 it s good for business! consumers expect it. regulatory issues and risks. what compels excellence in data stewardship?
11 When our engineers work tirelessly to improve security, we imagine we're protecting against criminals, not our own government. Mark Zuckerberg to President Obama
12 It s up to us:»a successful selfregulated business environment begins with effective self- regulation
13 PANEL DISCUSSION
14 Your Panelists JoAnne Monfradi Dunn President & CEO Alliant Sal Tripi AVP, Digital Operations & Compliance Stephanie Miller SVP, Member Engagement
15 Taking Responsibility» Know what data types you have» Know who has access to what data» Know your legal obligations for each data type» Ensure that the data is secure» Ensure that consumers receive proper notice and choice» Ensure that partners use data responsibly» Ensure that marketing, IT, customer service have the right training and keep getting it
16 Threats to the data-driven economy» Criminal Data breaches» Irresponsible data usage by business» One-sided media attacks» Fear mongering by consumer advocates and regulators» Proposed regulations that constrain free commerce in data» Conflation of marketing purposes
17 Winterberry Group: 5 Actions to Build a Strategic Data Governance Capability 1. Map your customer information 2. Develop a unified data policy based on best-practice guidelines, current regulation and operating parameters 3. Build underlying processes and infrastructure to support and control access to marketing data 4. Consider the needs of all constituent stakeholders to optimize the value (and protect the interests) of customers, employees, shareholders, partners and other parties; 5. Develop a data culture grounded in continuous learning and improvement, and reinforce the need to safeguard customer data and company assets.
18 DMA Guidelines: Data Security Checklist Periodic audit of data retention. What is stored, on what servers, and who has access? Employ appropriate data loss prevention technologies. Employ an appropriate data minimization plan including a data destruction and purge process. Maintain an inventory of system access and credentials. Segment and isolate networks based on business function to avoid compromising sensitive personal information that is used in a network. Create an appropriate incident response plan including vendor and law enforcement contacts as well as notification requirements. Maintain an appropriate and ongoing employee training program. Provide the appropriate one way encryption. Maintain an appropriate password policy including minimum standards for passwords complexity and changes.
19 Resources» DMA Ethical Business Guidelines thedma.org/guidelines» Winterberry Group Data Governance Whitepaper thedma.org/research» DMA Advance Blog thedma.org/blog» DDMI Value of Data study: Get a copy of today s slides from the DMIX website or smiller@the dma.org
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