NYC area expert explains the challenges, key principles, and associated business benefits of data ethics and responsibility practices—in a new article from Messaging Architects.
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Messaging Architects, an eMazzanti Technologies Company and information governance expert, discuses data ethics and responsibility in a new article. The informative article first explains data ethics challenges, including misleading results from poor data quality, complex algorithms, and bias and discrimination.
The author then shares some key principles of data ethics and responsibility, including transparency, fairness, accountability, and privacy. He follows that by identifying several business benefits of ethical data practices, including increased customer loyalty and trust, compliance with regulations, improved operational efficiency, and increased competitive advantage.
“Treating data responsibly involves carefully considering the impact of data on individuals and society,” stated Greg Smith, Vice President of Services Delivery at Messaging Architects. “While it brings important business benefits, it also requires strategy.”
Below are a few excerpts from the article, “Data Ethics and Responsibility Build Trust, Efficiency, and Competitive Advantage.”
Data Ethics Challenges
“Ethical dilemmas regarding data can result from poor data quality. Inaccurate, outdated, and incomplete data can lead to misleading results with negative consequences. The Enron scandal of 2001 provides one such example. In this case, fraudulent financial data caused the loss of billions of dollars in investments and thousands of lost jobs.”
Key Principles of Data Ethics and Responsibility
“Transparency – Businesses should be transparent about what data they collect, how they use it, and who they share it with. They should also provide clear and simple ways for customers to access or correct their data. Customers should also have the ability to opt out of data collection or processing.”
“Fairness – Organizations should use data in a way that does not discriminate, exclude, or harm individuals or groups based on identity or preferences. They should also take care that data does not reinforce stereotypes or prejudices. This will require representative data collection and close attention to data quality.”
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Business Benefits of Ethical Data Practices
“While organizations have a moral duty to handle data ethically, responsible data use also delivers business advantages. In the first place, transparency builds customer loyalty and trust, which enhances brand image. And the practices that provide the oversight necessary for accountability also help businesses comply with data privacy laws and regulations.”
Information Governance Experts
To effectively govern data, organizations must know where that data originates, who owns and accesses it, where it lives, and how it is used. The data experts at Messaging Architects bring decades of experience in information governance consulting and solutions. Business leaders should contact them to begin developing comprehensive strategies designed to promote the ethical and responsible use of data.
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