DMA Calls on Policymakers to Preserve and Protect the Value of DataOctober 30, 2013
DMA's Data-Driven Marketing Institute (DDMI) convened policymakers, industry thought leaders and the press at the National Press Club in Washington, DC, to celebrate the recent release of its first major academic study, entitled "The Value of Data, Consequences for Insight, Innovation and Efficiency in the U.S. Economy," and to discuss the implications of regulating the Data-Driven Marketing Economy. Commissioned by DDMI, the study was undertaken by Professors John Deighton of Harvard Business School and Peter Johnson of Columbia University.
In addition to a briefing on key findings by study authors John Deighton of Harvard Business School and Peter Johnson of Columbia University, the event featured a keynote address by Representative Lee Terry (R-NE), Chairman of the House Energy & Commerce Subcommittee on Commerce, Manufacturing & Trade, and remarks by Jessica Rich, Director of the Bureau of Consumer Protection at the Federal Trade Commission, as well as other key leaders in the field of data policy.
In her closing remarks, DMA President and CEO Linda Woolley said that DMA is calling on policymakers to do whatever it takes to preserve and protect the value of data. The release of this study provides policymakers in Washington and beyond with the facts about the critical role of responsible data use in fueling innovation and economic growth-and what would be impacted if regulation were to impede the responsible exchange of data across the DDME, she said.
"We now know for certain that regulation would impact innovation, small businesses, jobs and economic growth," Woolley said. "New regulations stopping the exchange of data across the DDME would impact $110 billion in revenue to the U.S. economy and 478,000 American jobs. The biggest winners in the DDME-innovation and small businesses-would also be the biggest losers if startups could no longer use data to overcome barriers to entry, raise ad-supported revenue, and identify new and niche markets to serve."
DMA is calling on Congress to protect the Data-Driven Marketing Economy by focusing its legislative efforts around data policy on "Five Fundamentals for the Future." DMA urges Congress to...
- Pass a national data security and breach notification law;
- Preempt state laws that endanger the value of data;
- Prohibit privacy class action suits and fund Federal Trade Commission enforcement;
- Reform the Electronic Communications Privacy Act (ECPA); and
- Preserve robust self-regulation for the Data-Driven Marketing Economy.
Woolley also called on industry to join DMA in doing their part to secure the data-driven future. "I am delighted to announce the creation of the Data Protection Alliance, a new legislative coalition that will focus specifically on ensuring that effective regulation and legislation protects the value of the Data-Driven Marketing Economy far into the future. I'm calling on every data-driven business to rise to the challenge of protecting the responsible use of data-and advancing our data-driven way of life."