BIGtoken’s Weekly Data Privacy Roundup

The continued “call to arms” for companies to implement protection and responsibility of the collection and use of data remains at a fevered pitch. To support these critical goals, innovative solutions are developing faster as the infrastructure industry supporting these initiatives continues to grow at a staggering pace

“It’s Time To Take Control Of Your Company’s Data-Driven Future,” Harvard Business Review- March 29, 2021

  • Data drives business strategy, product development, and meeting customer needs. Yet, many small businesses are still not effectively using the consumer data they collect to improve coordination and efficiency with important business relationships. More companies, like LiveRamp, are developing innovative cloud-based solutions to help improve business’ use of data ethically without compromising privacy protocols.

“The Dilemma Of Digital Revolution, Data Privacy,” Business Daily- March 31, 2021

  • Apparently, WhatsApp will “reserve the right to share some customer data across sister platforms Facebook and Instagram,” whether or not you have an account there. This prompted a massive migration away from the app, further showing how important data privacy has become to users on similar platforms. Now, the “barn door is open,” and data users and producers are demanding more rights to control how their data is used.

“Managing Data Privacy In The COVID-19 Environment – Navigating The Challenges Of A Pandemic In 2021,” National Law Review- April 1, 2021

  • Although COVID-19 has disrupted the global market for many industries, the pandemic has not slowed down the advancement of technological innovations and regulations regarding data privacy. In fact, privacy rights related to COVID-19 have increased the development of solutions and passage of data privacy rules. Arguably, data privacy advancement is one of the few positive impacts resulting from the COVID-19 pandemic.

As the data privacy industry pushes to change laws and regulations from various governmental entities, the industry is beginning to realize the need to focus on regulatory and business practice compliance that requires careful monitoring. 

“Keeping Up With Privacy Legislation: Easier Said Than Done,” CPOMagazine – March 30, 2021

  • This last year, there have been massive shifts in privacy legislation at the state, federal and international levels. It’s critical that companies continue to implement data privacy protocols into their business practices and establish a rigorous compliance practice to ensure adherence to the constantly changing regulatory world as well.

Big Data Infrastructure Market Forecast To Reach $4.2 Billion By 2026,” MarketWatch – March 30, 2021

  • Big data infrastructure, the cornerstone enabling businesses to sort, store, process and analyze large data sets, is expected to grow 32% annually and generate $4.2 billion in sales by 2026. Collection of big data is growing exponentially, creating a need for constant innovative technology solutions that will drive massive growth in the infrastructure market.