ICO promotes business case for data protection

Christopher Graham, the Information Commissioner, is urging organisations to put a value on personal information and invest in privacy protection.

At the Data Protection Officer Conference in Manchester last week, the Information Commissioner’s Office (ICO) launched ‘The Privacy Dividend’ report which provides organisations with a financial case for data protection best practice.

The report explains how to put a value on personal information and assess the benefits of protecting privacy. It includes practical tools to help organisations prepare a business case for investing in privacy protection.

Speaking at the ICO’s Data Protection Officer Conference, Christopher Graham, said:

“No organisation can neglect to protect people’s privacy. Not only is it the law, but there is also a hard-headed business imperative. This report provides organisations with the tools to produce a financial business case for data protection ensuring privacy protection is hardwired into organisational culture and governance.”

Practical tools to help organisations prepare a business case for investing in privacy protection include:

• Guidance on the steps involved in a privacy protection scheme to assess the costs and benefits;
• Guidance on creating business cases for implementing a new system or changing an existing system; and
• Calculation sheets to assess the value of personal information and put figures to the business case.