[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.the-future-of-commerce.com\/2020\/01\/09\/data-protection-trends-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2020\/01\/09\/data-protection-trends-2020\/","headline":"Top 3 consumer privacy & data protection trends for execs to understand","name":"Top 3 consumer privacy & data protection trends for execs to understand","description":"Learn the top consumer privacy and data protection trends, and what businesses must do to stay abreast of regulations - and customer expectations.","datePublished":"2020-01-09","dateModified":"2023-03-23","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/contributor\/rooly-eliezerov\/#Person","name":"Rooly Eliezerov","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/rooly-eliezerov\/","identifier":394,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/73195b433e2bbaffeb937829673767bf09ca1e4c81dec1f22415c7eb697c2016?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/73195b433e2bbaffeb937829673767bf09ca1e4c81dec1f22415c7eb697c2016?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"The Future of Commerce","logo":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","width":172,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2020\/01\/thumbnail-4a1a52d889aa8e4a08d64f9d9e10c746.jpeg","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2020\/01\/thumbnail-4a1a52d889aa8e4a08d64f9d9e10c746.jpeg","height":375,"width":1200},"url":"https:\/\/www.the-future-of-commerce.com\/2020\/01\/09\/data-protection-trends-2020\/","about":[{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/customer-experience\/customer-data\/","name":"Customer Data","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Customer_data","http:\/\/www.wikidata.org\/entity\/Q56278300"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/customer-experience\/","name":"Customer Experience","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Customer_experience","http:\/\/www.wikidata.org\/entity\/Q984142"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/cdp-customer-data-platform-solution\/data-privacy\/","name":"Data Privacy: Laws, Consumer Expectations","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Consumer_privacy"]}],"wordCount":1156,"keywords":["Data Privacy","Data Protection","GDPR"],"articleBody":"When it comes to consumer privacy and data protection trends,\u00a0we’re witnessing a\u00a0tsunami.\u00a0European Union\u00a0enforcement of the\u00a0General Data\u00a0Protection Regulation\u00a0(GDPR)\u00a0in May 2018\u00a0was the earthquake that marked the confluence of\u00a0two market forces:\u00a0consumer demand and legislation. Now,\u00a0that\u00a0force\u00a0has\u00a0turned\u00a0into a\u00a0wave\u00a0that’s headlining\u00a0boardroom agendas around the globe.\u00a0On the legislation side,\u00a0the California Consumer Privacy Act (CCPA)\u00a0went\u00a0into effect on January 1, 2020. In Brazil,\u00a0the\u00a0LGPD is slated to start in August of 2020. These two significant pieces of legislation\u00a0amplify\u00a0the momentum created by GDPR.\u00a0On the consumer demand\u00a0side,\u00a0the issue of data privacy\u00a0has continued to\u00a0challenge businesses.\u00a0In the U.S,\u00a073 percent\u00a0of consumers say they’re more concerned about their online privacy than they were a few years ago, and within the EU,\u00a0one in five consumers\u00a0believe that businesses do not care about their privacy.\u00a0Given the\u00a0overwhelming\u00a0importance of this issue\u00a0to businesses,\u00a0and the pace with which it\u2019s evolving,\u00a0it’s critical that businesses stay abreast of regulations – and consumer expectations.\u00a03 Consumer privacy and data protection trendsFollowing are three predictions for\u00a0where\u00a0consumer privacy and data protection trends are heading:The consumer data privacy regulation charge will pick up even more\u00a0speedSolutions for personal data control will spark new levels of innovationChief Data Officers(CDO)\u00a0will gain influence and buying power      What is CIAM: Benefits, security features, build vs buy decision in 2025                What is CIAM, and how can it protect your business and boost CX? This guide has everything you need to know about CIAM.      The consumer data privacy regulation charge will pick up even more speed\u00a0While\u00a0many companies\u00a0focus on enacted laws, there\u2019s another story at work: all of the laws\u00a0in the legislative pipeline. In 2019 alone, legislation\u00a0related to the privacy of consumer data, including bills related to online privacy, collection of consumers\u2019 biometric data, data broker regulation,\u00a0and other miscellaneous consumer privacy issues were introduced\u00a0or\u00a0filed in at least 25\u00a0U.S.\u00a0states\u00a0and\u00a0Puerto Rico.\u00a0Most of the bills introduced have failed\u00a0or are expected to fail.\u00a0In 2020, we predict this trend will turn around, especially in the U.S. As CCPA becomes more set in stone through lawsuits and legal refinements, other states will gain a blueprint to pursue their own consumer data privacy regulations. More of these efforts will succeed, and consumer data privacy regulations will be enacted by more states.\u00a0\u00a0What does this mean for businesses? Simply put: a piecemeal strategy of addressing regulations one-by-one isn’t sustainable. Instead, companies in the vanguard will develop and apply a data privacy strategy with the flexibility to adapt to new regulations with speed and accuracy. This will provide a clear market advantage compared to competitors\u00a0who\u00a0don\u2019t address this new environment successfully and expose themselves to regulatory risk and brand reputation damage as a result.\u00a0      The customer data revolution: CRM and CDP roles evolve                CDP solutions offer businesses an answer to the consumer privacy concerns that fueled data privacy laws and the customer data revolution.      Solutions for personal data control will spark new levels of innovationOne of the core concepts of consumer data privacy regulations is that customers should be able to control both the personal data they share with organizations and how organizations use that data. This concept is based on consumer demand; simply put,\u00a0they don\u2019t trust organizations with their personally identifiable information (PII).\u00a0Currently, the onus to provide customers with personal data control sits with organizations. The regulations detail what control should exist, and it\u2019s the organization\u2019s responsibility to execute the actions when requested by customers.\u00a0In the not-too-distant future, we predict innovations will shift the paradigm so customers will be able to act, not just request. In fact, one market leader is already showing the way.\u00a0Apple recently announced that its apps won\u2019t store each customer\u2019s real email address, but rather a unique email address that is generated by Apple on their behalf. Emails will be sent to this\u00a0proxy\u00a0address,\u00a0which Apple will then automatically redirect to the customer\u2019s personal email address.\u00a0\u00a0The same basic process is possible with phone communications, home delivery, and with the transfer of funds through a middleman clearing service. Each email address, phone number, physical address, and\u00a0piece of\u00a0payment information is unique per customer and per organization. So, a customer can easily revoke the unique\u00a0proxy\u00a0given to company X and, from that moment on, company X will no longer have access to the customer\u2019s PII.\u00a0In this way, customers don\u2019t need to trust organizations to delete their data or to stop communicating with them. They can simply disconnect from any organization whenever they choose.\u00a0      How to build customer loyalty by making data privacy a priority                A solid data privacy platform is crucial to earning customer trust and loyalty. So why aren't more companies providing one?      Chief Data Officers(CDO) will gain influence and buying power\u00a0Tracing its roots back to the early 2000s, the Chief Data Officer is a relatively new role in the C-Suite. Now,\u00a0research shows more than 67% of large organizations have a CDO. Why? One big reason: the amount of data generated around the globe.\u00a0IDC predicts\u00a0that the collective sum of the world\u2019s data will grow from 33 zettabytes\u00a0in 2018\u00a0to a 175ZB by 2025, for a compounded annual growth rate of 61 percent.\u00a0And while there may be a wealth of data available to an organization, not all data is created equally. Large organizations\u00a0lose almost $10 million per year\u00a0due to poor data quality.\u00a0Beyond the traditional role of the CIO and the IT department \u2013 who own the technical roles related to data storage and security \u2013 businesses are tasking the CDO to be the forward-looking data champion who sets strategy, leads integrations, maximizes utility, and ensures governance. In recent years, these responsibilities have increased in significance as businesses have tapped into powerful AI\/ML\u00a0and customer data platform\u00a0capabilities.\u00a0\u00a0\u00a0The role\u00a0is also distinct from the Chief Digital Officer. In this\u00a0CDO vs CDO comparison,\u00a0the\u00a0\u201cdigital\u201d\u00a0title focuses more on an enterprise\u2019s\u00a0digital\u00a0transformation efforts.\u00a0On the other hand, the \u201cdata\u201d title\u00a0tends to provide more on-going strategy guidance concerning the enterprise\u2019s data use.\u00a0In the upcoming months and years, we predict the CDO role will grow even more prominent. With the onset of a more fluid data privacy landscape, as demonstrated by GDPR enforcement and the imminent CCPA roll-out, CDOs are being asked to take more of a role in risk and compliance management.\u00a0\u00a0For example, they can work with Data Privacy Officers (a GDPR-required security leadership role) to ensure timely, successful audit responses. In addition, they can lead their organization\u2019s efforts to find solutions to address consumer data protection trends and data privacy regulatory requirements. \u00a0  Customer identity, consent, and authentication \u2013 simplified.The future starts HERE."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2020","item":"https:\/\/www.the-future-of-commerce.com\/2020\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"01","item":"https:\/\/www.the-future-of-commerce.com\/2020\/\/01\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"09","item":"https:\/\/www.the-future-of-commerce.com\/2020\/\/01\/\/09\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Top 3 consumer privacy & data protection trends for execs to understand","item":"https:\/\/www.the-future-of-commerce.com\/2020\/01\/09\/data-protection-trends-2020\/#breadcrumbitem"}]}]