Privacy Isn’t Dead
/For most organizations, data is at the center of business. This information helps drive strategy, allowing companies to meet consumer needs, respond to shifts in the market/consumer behavior, and react to unforeseen events effectively. As businesses continue collecting, storing, and sharing personal information, online privacy is a growing concern. According to a 2020 Consumer Privacy Survey conducted by CISCO, 89% of consumers say they care about data privacy. Even more, 29% of consumers said they have abandoned companies due to bad data practices.
These numbers don’t lie! It is apparent that privacy isn’t dead. In fact, it’s very much alive, and organizations must take the necessary steps to prioritize and protect consumers' data.
So, how can organizations proactively prioritize privacy? The answer: Privacy by Design (PbD.) This method outlines a framework that businesses can use to proactively embed privacy into the design and operation of IT systems, networked infrastructure, and business practices. The purpose of PbD is to enable companies to successfully adhere to data protection by implementing data processing procedures when the technology is created versus trying to fix the problem after the fact. AKA, taking a proactive approach rather than a reactive approach. While the PbD framework has been around since the late 1900s, it has never been made a top priority by businesses.
Unfortunately, cybercriminals are only becoming more sophisticated. Your privacy is being co-opted, and cybercrime can do immeasurable (and sometimes irreversible) damage to not only your reputation but your business’ reputation as well. It’s so important that our data privacy protection efforts evolve to combat these growing threats. As a champion for PbD, I’d love to tell you why businesses should start incorporating it into their processes from an ethical/ safety perspective, as well as explore the (many) benefits this adjustment can have to business success.
Proactive over Reactive
Citing Ann Cavoukian’s Privacy by Design Principles, PbD anticipates and prevents privacy attacks before they happen, not after the fact, emphasizing an organization’s commitment to enforcing high standards of privacy. In order for this principle to be successful, company leaders must understand the importance of PbD, share the company’s commitment to internal staff and stakeholders, and engrain the design into the company’s IT systems. The more organizations that adopt these safe practices will also help expedite industry-wide privacy regulations that are frankly inevitable.
So how would proactive data protection benefit business success? Simple. Privacy by design can prevent organizations from failing customer, employee, regulatory, and societal expectations. This preventative approach can also reduce spending and complexity on the front end, as intrusive data events can be extremely costly and difficult to resolve. In fact, INTRUSION, Inc. predicts Cybercrime is expected to cost companies worldwide an estimated $10.5 trillion annually by 2025, up from $3 trillion in 2015. A cost we simply cannot ignore and must work to combat.
Provide Structure
Privacy by Design offers an effective system across an entire organization. Jessica Wilburn explains how to, “Instill an organization-wide commitment to privacy as a first principle, in any organizational decision,” through PbD. Embedding privacy into your IT systems acts as a safety net for your organization, but also sets the tone for company values. It shows that your company leadership takes user privacy seriously and wants their employees to do the same. Of course, creating policies and having workshops on the topic is important, but creating a foundation on privacy is the most important step for company adoption.
Strategic Advantage + Building Trust
There’s no question that establishing privacy programs gives your company a competitive advantage. As we discussed above, consumers consider their privacy to be extremely valuable, and that sentiment is only increasing. Exhibiting respect for your customers’ privacy and taking the necessary steps to protect their data will help cultivate brand loyalty and trust. Companies like Apple have leveraged this by promoting numerous ways in which their products and services are designed with individual privacy protection in mind. Furthermore, showing dedication and transparency with these efforts will extend to company stakeholders as well, creating a culture of continuous improvement.
We’re entering an era where digital is king. Opportunities to engage with your customers online will continue to grow, as will your data collection. Moreover, as your organization continues to advance its digital transformation efforts, established data protection efforts will enable uninterrupted innovations in your products or services and mitigate losses related to data breaches. Basically, PbD’s stability allows for companies to take risks and grow.
Data privacy is complex and often nuanced, and protection efforts/ strategies don’t happen overnight. Organizations must confront this factor and instill an organization-wide commitment to privacy. Utilizing Privacy by Design within a company's privacy infrastructure is a necessary first step to building a foundation for a more sustainable company in the long run. Privacy is everyone’s responsibility. So let’s do our part!
Supporting Articles:
https://iapp.org/media/pdf/resource_center/pbd_implement_7found_principles.pdf
https://www.jdsupra.com/legalnews/privacy-by-design-establishing-robust-8269008/