2021 Digital Analytics and Governance Report

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Page 19 of 24

20 Data Privacy Landscape The data privacy landscape doesn't just consist of GDPR and CCPA anymore, but has recently been joined by regulations such as the Virginia Consumer Data Pro- tection Act, Brazil's LGPD, and many others. For marketers and analysts, data privacy is becoming the new normal with many high risks for those who are not compliant, including data leaks, steep fines, loss of trust from customers and prospects, PR disasters, etc. The audience we surveyed are regularly involved in data collection posing these risks, but the majority (59%) don't know who is in charge of taking care of data privacy concerns (see page 18). Even with the high stakes, data privacy is still a relatively new and massive undertaking for many companies, which could explain why there is still so little consis- tency and so many unknowns. But this has to change quickly. Establishing a chain of command for privacy—particularly in assigning a DPO—as well as employing a Consent Management Platform (CMP) and other privacy tools are key steps in creating concrete systems to mitigate the risks associated with data privacy. Privacy Compliance - Data Privacy & Compliance

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