Friday, January 29, 2021

Key Privacy arena findings in 2020

  • Ninety-three percent of organizations turned to their privacy teams to help navigate and guide their pandemic response
  • Privacy budgets doubled in 2020 to an average of $2.4 million
  • ROI was slightly down compared to 2019, but remains attractive with 35% reporting benefits at least 2 times their investments
  • Privacy laws are viewed very favorably around the world, with 79% of organizations indicating they are having a positive impact (and only 5% negative impact)
  • External privacy certifications (e.g., ISO 27701, APEC Cross-Border Privacy Rules, and EU Binding Corporate Rules) are an important buying factor for 90% of organizations when choosing a product or vendor
  • Organizations with more mature privacy practices are getting higher business benefits than average and are much better equipped to handle new and evolving privacy regulations around the world
  • Data Privacy has become a top area of responsibility for security professionals, with 34% of survey respondents indicating privacy is one of their core competencies and responsibilities
  • Ninety-three percent of organizations are reporting privacy metrics (e.g., privacy program audit findings, privacy impact assessments, and data breaches) to their Boards
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