A data ethics guide for companies was published by WFA. This guide contains information on companies’ approach to customer data.
Data ethics guide published
With digitalization, we can say that the most valuable resource in the world is data. However, there are very important ethical principles in the background of situations such as processing and sharing of this data.
WFA (World Federation of Advertisers) has published a set of data ethics guidelines that companies must follow. Raja Rajamannar, who is the head of WFA and works as a manager at MasterCard, shared important information for the advertising industry. Rajamannar says people expect transparency from companies about how data is processed and how it is obtained. He also states that consumers and their data should be respected.
The manual, published by WFA, included a survey with the participation of companies and managers. 74 percent of the companies surveyed stated that data ethics will gain more importance in the next 5 years. In addition, 82 percent of senior executives out of 147 companies who answered the questions said that they think about quitting their business when they do not comply with their company’s data ethics. Companies that say they currently have a data ethics policy made up only 48 percent.