Over the past few years, data privacy has evolved from “nice to have” to a business imperative and critical boardroom issue. Today, people are asking more questions about how their personal data is used, and they now view privacy as an important component of a company’s brand. Privacy regulations like the EU’s General Data Protection Regulation (GDPR) have raised awareness and enforcement of privacy, and this is compelling organizations to better manage and protect personal data to avoid significant fines and penalties.
- Most organizations are seeing very positive returns on their privacy investments, and more than 40% are seeing benefits at least twice that of their privacy spend.
- Strong correlations between organizations’ privacy accountability and lower breach costs, shorter sales delays, and higher financial returns.
- The percentage of organizations saying they receive significant business benefits from privacy (e.g., operational efficiency, agility, and innovation) has grown to over 70%.
- The vast majority (82%) of organizations view privacy certifications such as ISO 27701 and IAPP certified professionals as a buying factor when selecting a product or vendor in their supply chain.
Good privacy is indeed good for business and individuals.
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