Vertical Integration, Search Engine Optimization and Anti-Trust Laws
Continue talking about corporate governance has once again brought the issue of data creation, collection and management. With companies vertically integrating to align their product and service portfolio with market, organizations tend to share their customer data across the organizations. As share-holder make investments decisions and expect corporate governance with ethics and honesty. As nations become more acclimatized to digital payments, more and more consumer data is available on internet. This also means, companies will have device stronger policies around ‘Data Governance’ & ‘Right to Privacy’.
Companies are taking proactive measures to identify the said transactions in light and inform the market well ahead in time. As CEO’s are incentivised to make shareholders successful, a clearer communication, risk mitigation and management strategy need to devised.
A recent discussion and media play about alleged misuse of consumer data by large internet company has come to fore. This issue can be analyzed from multiple perspectives like ‘Data Leak’, ‘Customer Information’ compromise (Data Governance), alleged misuse of payment data of customer of one company by another (Anti-Trust, Competition Commission, Trade Commisions etc. ). The watchdog authority has played its part by highlighting the issue in media. Obviously, it must have been communicated to said alleged companies before the news hit media. Make appropriate investments in protecting your consumer data. Make necessary steps to strengthen your technology backbone. Smartech can make a business case for your success in market. With ‘Digital’, ’Data’ being currency of the information highway, sound data governance and adjudication mechanisms need to be put in place your company to be successful.