Data privacy empowers people to control the information about them that they choose to share online, and how it’s used. It’s a key ingredient in trust. And it’s what allows businesses to derive insights and create value — from search results that help people find the right products, to personalized experiences that drive customer satisfaction, and advancements in critical sectors like healthcare.
In fact, personal information has become one of the most valuable assets that businesses have, which is why companies like Google and Facebook build their empires atop a data economy. But it’s not enough to simply collect data and make it available to customers; it must also be protected — and that requires a commitment to the principles of data privacy.
It also means designing a culture that values digital safety and ethics, and encouraging employees to take steps to keep their online privacy in check. In addition, it’s essential to have strong access control mechanisms, which limit who can view, modify or delete data based on roles and permissions.
For businesses, achieving GDPR compliance demonstrates to regulators, customers and partners that you’re committed to being responsible stewards of their data. This helps mitigate risks and potentially avoid costly fines for unauthorized sharing or loss of sensitive data. And, importantly, it enables you to strengthen relationships with consumers by building trust and demonstrating accountability.