When you have a website or business that works with customers, you want to make sure that they trust you with their information. It is a way for companies to ensure that they are not only protecting their own data, but also the data of their customers. You can also take advantage of this information to improve marketing campaigns, so that they become more effective and less expensive for both parties involved.ĭata privacy protection makes it possible for businesses to collect information about customers’ needs and preferences so that they can create products or services tailored specifically for them individually, which will result in higher profits for everyone involved!īusinesses can use data privacy protection to stay competitive. Knowing more about your customers and how they interact with your products helps you develop better business solutions that meet their needs more effectively than ever before. You will be able to easily identify who has used your products in the past, which means that you can contact them with relevant offers or send them relevant messages when they are looking for new solutions. One of the most important reasons for data privacy protection is that it will help you retain existing customers and attract new ones. Improved customer acquisition and retention Once they’ve done their part, you’re in charge of working with your legal team and IT staff to implement the solution.īelow are seven reasons why information and privacy compliance is important to your business:
VERIZON PRIVACY PROTECTOR HOW TO
They’ll help you define the scope of what needs protecting and how to do it. The good thing is you can have a privacy solutions company on your side. However, it can be expensive and time-consuming to keep up with the latest data security standards. But with this comes a greater risk of exposing private information, which can be damaging to your company’s reputation. With the rise of big data, more and more companies are using their data to improve the customer experience. Why is information and privacy compliance important for your business?
And, according to Verizon’s 2018 Data Breach Investigations Report, cybercriminals made off with more than 2 billion records from U.S. According to the Identity Theft Resource Center, consumers lost $16 billion due to identity theft in 2017. Data privacy protection is becoming a necessity for businesses today.ĭata theft has cost businesses billions of dollars in the past year alone.
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