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June 2017, Vol. 5, No. 3

Customer data governance policies: Stop stalking, start selling

In the 1964 case Jacobellis v. Ohio, U.S. Supreme Court Justice Potter Stewart famously said that obscenity is hard to define, but "I know it when I see it." In much the same way, it might be tough to demarcate between good use and abuse of customer data in efforts to drive sales, but we know abuse when we see it, as evidenced by these all-too-real events. Wells Fargo. Last year, investigators found that employees had opened 2 million fake credit cards and deposit accounts on behalf of customers to meet aggressive sales quotas. The fallout included $185 million in fines, $2.6 million in refunds and thousands of employee firings. By March 2017, the bank's credit card applications were down 55% and new checking accounts declined 43%, compared to March 2016. Target. The retailer divined, likely with predictive analytics, that a teenage customer was pregnant, which her father found out only after Target sent his daughter coupons for baby clothes and cribs, a store employee told The New York Times. Bank of America. A feminist ...

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