Four stages help organizations evolve the business value of data privacy programs from compliance to customer trust
OneTrust, the market-defining leader for trust intelligence, has announced the launch of its Data Privacy Maturity Model. The model provides privacy, security, marketing, and data teams with the resources to transform their privacy programs from tactical compliance initiatives that mitigate risk, to strategic customer trust imperatives that unlock the value of data for AI innovation, customer engagement, and business analytics.
“The expanding footprint of regulation, the urgency of building first-party datasets, and the responsibility of ethically managing data-hungry AI models reinforce the business criticality of getting data privacy right,” said Ojas Rege, General Manager of privacy & Data Governance at OneTrust. “By maturing their data privacy programs, organizations can better tie data privacy to business value, establish a common internal language for cross-functional collaboration, and design their program roadmap.”
By maturing their data privacy programs, organizations can better tie data privacy to business value
As data privacy programs are still relatively new for many organizations, they often face cultural challenges, business siloes, and conflicting internal priorities. Moving through the four stages of OneTrust’s Data Privacy Maturity Model helps organizations to:
- Realize new sources of business value and ensure the data privacy program can unlock data for business use
- Develop repeatable processes while aligning internal teams and resources
- Improve the consumer experience so rights are respected, trust is created, and first-party data sets are collected responsibly
- Ensure that personal data is used responsibly through the entire data lifecycle
- Collaborate across internal AI governance, privacy, and data governance programs to apply responsible and ethical AI practices to the use of personal data, especially for model training
When an individual trusts that a company is using their data responsibly, they are willing to share more data, enabling the company to increase its customer engagement, loyalty, and lifetime value. This virtuous cycle of earning, retaining, and expanding customer trust to unlock the value of data is the strategic goal of a mature data privacy program.
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