Welcome to 2023. Still no hoverboards or alien invasion but in other areas the future is now.
As recently as 2020, a clear distinction was drawn between 'privacy & security conscious' organisations and others. Archetypes for 'privacy & security' conscious organisations were often found within financial services, information technology and pharmaceuticals & wider health. These organisations were particularly sensitive to both the retention and governance of data they owned but also the risk of being subject to breaches, threats and attacks from outside and malicious parties. The rest of industry was thought to be broadly less risk adverse and in turn less constrained by privacy & security concerns.
By year-end 2024, Gartner predicts that 75% of the world’s population will have its personal data covered under modern privacy regulations. This regulatory evolution has been the dominant catalyst for the operationalization of privacy,” said Nader Henein, VP Analyst at Gartner
Today privacy & security are not concerns but table stakes for all organisations. Through a combination of consumer activism, regulation, government enforcement & fines and real & present threat all organisations have significantly higher standards which they seek to maintain and/or improve. These themes are a one-way-door for organisations, risk appetites will only continue to get lower.
We can confidently say that ALL organisations are 'privacy & security' conscious. Whether you are a retailer, bank, pharma, D2C cosmetics; the stakes are high and ensuring that data is leveraged in a safe and secure manner is essential.
Gartner lay out their thinking clearly here regarding the stages appropriate for organisations to be undertaking in establishing, maintaining and evolving privacy standards:
Leading advertisers are already using AUDIENCES to accelerate activation of 1st party data across advertising with zero compromise to privacy or security.
Contact AUDIENCES to discuss how to accelerate activation of your 1st party data.