First up is the new web-based privacy dashboard, it lets you see and control activity data Microsoft has about you including your locations, search, browsing, and Cortana Notebook data.
Additonally, the software giant is working on a new screen for Windows 10 that will let you control some of Windows 10's telemetry features. Expected to be introduced in a Windows Insider build soon, the new privacy settings screen will let you dial down or completely deactivate certain data collecting services. The screen also clearly explains the downside of disabling these settings.
For example, if you switch off "Speech recognition" you will no longer be able to use Cortana because this service sends voice input to Microsoft's servers. Similarly, if you switch off "Location" then Windows and certain apps will no longer be able to use your location to provide localized content like weather, directions or Find My Device.
Other settings determine how much data Microsoft may collect to improve Windows and there's also a setting that lets you switch off targeted advertising.