DMA Calls on Policymakers to Preserve and Protect the Value of Data
The Direct Marketing Association (DMA) called on policymakers to do whatever it takes to preserve and protect the value of data on Tuesday.
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."