Data has been labeled the world's most valuable resource in
our current digital economy. It is the lifeblood of many companies,
especially those in the technology, media and telecommunications
sector where data is often ¬used to predict, analyse and
respond to consumers' behaviours, patterns and preferences for
services and products. Capabilities to collect and analyse mass
data are therefore seen as a decisive factor used to distinguish
whether one company is a cut above the rest, using data to
accurately determine current and future market trends. But in a
regulated society, companies cannot freely process whatever data
they choose – a balance must be struck between technological
innovation and protection of individuals' rights attaching to
their personal data.
