An interesting new report came to my attention today, “ Unlocking the Value of Personal Datra: From Collection to Usage,” published by the  World Economic Forum, prepared in collaboration with  The Boston Consulting Group.

Some statements from the executive summary that I like include:

Our world is changing. It is complex, hyperconnected, and increasingly driven by insights derived from big data. And the rate of change shows no sign of slowing.

… the economic and social value of big data does not come just from its quantity. It also comes from its quality – the ways in which individual bits of data can be interconnected to reveal new insights with the potential to transform business and society.

… fully tapping that potential holds much promise, and much risk.

… It is up to the individuals and institutions of various societies to govern and decide how to unlock the value – both economic and social – and ensure suitable protections

The report is organized as follows

• Chapter 1: The World Is Changing
• Chapter 2: The Need for a New Approach
• Chapter 3: Principles for the Trusted Flow of Personal Data
• Chapter 4: Principles into Practice
• Appendix – Relevant Use Cases

It is particularly interesting to me that although there are numerous examples about the potential benefits of big data, there are huge challenges, and no easy fixes.  But the report is well written and provocative.  Well worth the time to read.

Plus as an added bonus, the report has some great pictures and graphics – a treat seldom seen in a report like this.  Here is my favorite – it seems to capture the spirit of the crazy world of privacy and security we are in right now.