Data privacy as a business opportunity
: leveraging privacy maximizing features to address client privacy concerns

  • Luis Fastje (Student)

Student thesis: Master's Thesis

Abstract

Data privacy is a critical concern in the era of data-driven businesses. Users are becoming increasingly sensitive about the collection and processing of their personal data. This Master’s thesis examines whether a firm’s data privacy policy can provide an edge over competitors. Primary research was conducted to ascertain user preferences and behavior regarding data privacy in the context of identified business drivers for prioritizing data privacy as well as for mitigating associated risks and benefits. This data supplemented secondary material from the literature review. PESTEL analysis indicated that key drivers for data privacy are legal, ethical, financial, and technical. Moreover, expert interviews and the survey revealed that businesses cannot avoid data privacy and proved the above-mentioned key drivers. Furthermore, the drivers can be structured for transparency, trust, capabilities, and holistic processes. Data privacy must be approached holistically as data governance to ensure efficient and responsible data management within an organization. Hence, a concept was developed which proactively leverages user concerns and minimizes the consequences of data breaches and non-compliance with the GDPR. Based on the foregoing, privacy policies can lead to unique positioning and consequently provide a competitive advantage (CA) with the following measures: (1) explicit opt-in choices on a consent management platform, (2) efficient Data Lifecycle Management, (3) are in the context of privacy by design, and (4) represent technical best practices, such as differential privacy. These criteria, properly executed with consideration to company-specific use cases and the internal resources and capabilities, leverage privacy maximizing features for CA.
Date of Award25 Jan 2023
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorPeter V. Rajsingh (Supervisor)

Keywords

  • Competitive advantage
  • Data privacy
  • GDPR
  • Data governance
  • Data governance maturity model
  • Data lifecycle management
  • User trust

Designation

  • Mestrado em Gestão e Administração de Empresas

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