Strategy experts split over the effect of privacy concerns on big data in new survey from MIT Sloan Management Review
CAMBRIDGE, Mass., July 19, 2018 /PRNewswire/ -- In a new survey out today, a group of the world's top strategy experts found they could not agree on the effect privacy concerns will have on how businesses use data. Fifty two percent disagreed with the statement "concern over consumer privacy will fundamentally limit businesses' ability to use big data," while forty eight percent agreed or strongly agreed.
The forum's findings come from the MIT SMR Strategy Forum, a new regular feature at MIT SMR where strategy scholars react to a provocative question on strategy development and execution. The forum is led by Joshua Gans of the Rotman School of Management, University of Toronto and Timothy Simcoe of Boston University's Questrom School of Business.
Some in the "disagree" camp felt the issue had been decided. "I think the barn door is open and the horse has already left," commented Tom Lyon of the University of Michigan's Ross School of Business. Others thought privacy concerns could be contained through reasonable regulation. "Effective privacy protections are feasible and can make consumers more willing to share data," commented Erik Brynjolfsson, of the MIT Sloan School of Management.
On the "agree" side, the forum members anticipated that policy makers would continue to pursue restraints on big data. "Firms can benefit even from anonymous data and they will try to skirt regulations, but the EU will probably lead the way in imposing limits," said Olav Sorenson of the Yale School of Management.
The MIT SMR Strategy Forum will be a free, monthly feature. Each month, the Forum poses a single question to our panel of experts in the fields of business, economics, and management. Panelists are asked to agree or disagree with a prediction, indicate their level of confidence, and provide a brief explanation for their response. The next scheduled question is "A trade war will be more disruptive to business than to consumers."
For more on the results, visit the MIT SMR Strategy Forum. #ExpertsOnStrategy
About MIT Sloan Management Review
A media company based at the MIT Sloan School of Management, MIT Sloan Management Review leads the conversation among research scholars, business executives and other thought leaders about advances in management practice, especially those shaped by technology, that are transforming how people lead and innovate. MIT Sloan Management Review captures for thoughtful managers the creativity, excitement and opportunity generated by rapid organizational, technological and societal change.
About The MIT SMR Strategy Forum
The MIT SMR Strategy Forum is a regular (and revealing) glimpse into the minds of the world's strategy superstars. In this ongoing feature, top academic experts from across the globe in the fields of business, economics, and management, give their opinions on a burning strategy issue of today.
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SOURCE MIT Sloan Management Review
