Data is the lifeblood of today’s digital economy. It powers personalized customer experiences, automated marketing messaging, scientific insights and more. But with more and more of our private information in digital hands, concerns about how it’s collected and used are growing. Data privacy is at the center of these conversations and it’s essential that businesses understand it.
Your personal information—from your name and phone number to browsing history—creates thousands to millions of data points every time you stream a video or visit a website. This data is valuable to companies that rely on it for business purposes, but it also creates risks when it’s hacked or stolen and sold on the Dark Web. And that’s why it’s important for organizations to be transparent about what information they collect, how they use it and how third parties may access it.
It’s a complex issue. Data privacy laws and regulations—like GDPR in Europe or California’s Consumer Privacy Act (CCPA) in the U.S.—require that organizations be transparent about how they collect and use data, as well as have a clear plan for how to respond in the event of a breach.
In addition, these laws place a responsibility on businesses to ensure that their data protection processes are in line with the needs of consumers and that they follow industry best practices. It’s also a good idea to design privacy considerations into your products and services, from the beginning. For example, incorporating privacy notices into your mobile apps is a great way to ensure your customers have full visibility and control over the personal data that you collect.