Quick Look at The Data Privacy Trends in 2020

January 28th, 2020, was the day observed as Data Privacy Day. This day was used as an acclamation of International efforts to give individuals the power over data privacy and encourage businesses to provide privacy, secure the data and enable trust among customers. Since January 2020, a lot has changed, and we can expect a shift in data privacy trends globally.

Here are the Dara privacy trends that you can expect in 2020

Trend #1: Data Privacy Regulations Worldwide

On January 1st, 2020, the California Consumer Privacy Act (CCPA) was enforced. Since then, many other states of the U.S. are looking for ways to follow the same regulation in 2020. The states which are going to follow the rule include Washington, Texas, New York, Massachusetts, and others. CCPA is redefining the scope of data privacy in the U.S. which was otherwise very complicated for both the consumers and businesses.

Due to this advantage of understanding, many businesses, consumers, and lawmakers are pushing the Federal Data Privacy Legislation 2020 towards approval.

According to a survey, 85% of the respondents expressed that they support the idea of federally mandated data legislation in 2020. According to the co-CEO of Salesforce, there needs to be some data privacy law enforced in the United States, and there is no question in it. The U.S states agree on the fact that it would be great if they had a national data privacy law.

Trend #2: Data Privacy To Stand Out To Consumers

There have been many significant data breaches in recent years, and data privacy is receiving considerable attention worldwide.

As consumers are becoming aware of their data privacy rights, lawmakers and companies are staying more alert about data privacy and legal compliances. Due to the increased awareness, consumers are selecting those businesses which provide high end of security.

Businesses need to remain transparent with customers. The companies should always be prepared for unfortunate events like a data breach. The businesses which are working extraordinarily to provide security to the customer's data will stand out to consumers as they are providing them with the best practices. Companies that prioritize data privacy and include their data privacy team when creating a new product have three-time more chances to gain ROI than those who don't.

Trend #3: Companies Are Investing More In Data Privacy Training For Employees

As the numbers of data breaches and cyberattacks have increased, the companies are investing more and more resources in in-depth data privacy training for staff members. Many executives are hiring teams for this job.

In Short

2020 is the year of the digital revolution, which demands strict actions for ensuring data privacy of consumers and companies alike. Only those who can cope with the changing trends will be the ones to stand out and last in the desperate competition.

GDPR CCPA Compliance Management