A method to provide privacy measurement and privacy quantification of sensor data for privacy protection of the sensor data, the method comprising: receiving, by a processor, the sensor data from a sensor, wherein the sensor data comprises time series data; calculating, by the processor, a privacy measuring factor with respect to a private content and a non private content, wherein the private content and the non private content are associated with the sensor data, wherein the privacy measuring factor is calculated by using a computation technique; and wherein the privacy measuring factor depicts amount of privacy with respect to private events associated with the private content; determining, by the processor, a compensation value with respect to a distribution dissimilarity of private content of the sensor data, such that the compensation value compensates a statistical deviation in the privacy measuring factor to provide an accurate measurement of privacy in terms of the privacy measuring factor by removing error in the measurement of privacy in terms of the privacy measuring factor, wherein the statistical deviation refers to a deviation in measurement of privacy while calculating the privacy measuring factor, characterized in that, determining, by the processor, a privacy quantification factor by using the compensation value and the privacy measuring factor; and scaling, by the processor, the privacy quantification factor with respect to a predefined finite scale to obtain at least one scaled privacy quantification factor, wherein the predefined scale comprises finite set of values ranging from 1 to 5, and wherein each value from the finite set of values refers to quantification of privacy content associated with the sensor data; wherein the receiving, the identifying, the calculating, the determining the compensation value, the determining the privacy quantification factor and the scaling are performed, wherein the privacy measuring factor and the privacy quantification factor are calculated before applying a privacy preservation technique, wherein the privacy preservation technique comprising adding noise to the sensor data, wherein the noise is added equivalent to a scaled privacy quantification factor; and wherein the noise to be added is directly proportional to the privacy quantification factor. receiving, by a processor, the sensor data from a sensor, wherein the sensor data comprises time series data; calculating, by the processor, a privacy measuring factor with respect to a private content and a non private content, wherein the private content and the non private content are associated with the sensor data, wherein the privacy measuring factor is calculated by using a computation technique; and wherein the privacy measuring factor depicts amount of privacy with respect to private events associated with the private content; determining, by the processor, a compensation value with respect to a distribution dissimilarity of private content of the sensor data, such that the compensation value compensates a statistical deviation in the privacy measuring factor to provide an accurate measurement of privacy in terms of the privacy measuring factor by removing error in the measurement of privacy in terms of the privacy measuring factor, wherein the statistical deviation refers to a deviation in measurement of privacy while calculating the privacy measuring factor, characterized in that, determining, by the processor, a privacy quantification factor by using the compensation value and the privacy measuring factor; and scaling, by the processor, the privacy quantification factor with respect to a predefined finite scale to obtain at least one scaled privacy quantification factor, wherein the predefined scale comprises finite set of values ranging from 1 to 5, and wherein each value from the finite set of values refers to quantification of privacy content associated with the sensor data; wherein the receiving, the identifying, the calculating, the determining the compensation value, the determining the privacy quantification factor and the scaling are performed, wherein the privacy measuring factor and the privacy quantification factor are calculated before applying a privacy preservation technique, wherein the privacy preservation technique comprising adding noise to the sensor data, wherein the noise is added equivalent to a scaled privacy quantification factor; and wherein the noise to be added is directly proportional to the privacy quantification factor.