There are a couple of things. One is that our aim, as part of the McKinsey Global Institute, is to inform the policy discussion, but just to be clear, we actually don't provide direct policy recommendations. That being said, I think the topic you bring up around privacy of individual data is an incredibly important one, one that people care deeply about.
I don't know that there's a blanket ability to solve that problem, because many people disagree about exactly what data should be used for what purpose. I do think one interesting direction to think about regarding policy is that it is increasingly difficult to control the creation of data, and sometimes even the distribution of data, although I think thoughtful policy can be used to regulate that. Often what people find most objectionable is particular uses of data. It's not that the data exists, as you described it, but when it's used for particular purposes is when oftentimes people find it objectionable.
I think one interesting policy direction to take is to identify the uses of data that we don't want to have happen, and to regulate or legislate those uses, rather than the data itself.