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Data is the fuel of modern business, and with it comes responsibility. As companies continue to innovate in ways that were once unimaginable, they must also take data privacy and ethics seriously.

In this blog post, we will look at 5 steps you can take for a successful digital business:

1) Be transparent about how you use customer data

This is the first step to build trust with your customers. It’s not enough to just collect data – you need to be transparent about how that information will be used and shared, and provide control for consumers who want it. You can help them make decisions by providing a choice around what they entrust their personal data with companies like yours in order to better deliver insights on customer experience or product development innovations.

Create a privacy policy so people know exactly what types of information you are collecting from them, why you’re collecting it, how long it’s kept for storage purposes, where its stored geographically (eg secure server), and whether or not third parties have access to this sensitive information beyond those who require viewing privileges due to employment requirements.

2) Offer choice over what information consumers share

Provide “opt out” and “op in” options where feasible. Offer ways for users to review what information they have shared with you, if any. Clarify the benefits of opting into programs that collect certain data types (eg marketing campaigns). For example, let consumers know how their purchase history will be used.

3) Emphasize security and trustworthiness when handling personal information

Reinforce the safety of their data and the importance of keeping it safe. Provide transparency on how your organization uses personal information, including what types are collected, for which purposes they’re used (eg marketing), and who has access to them. Offer an easy way for consumers to update or delete their accounts entirely in a timely manner.

4) Provide clear, concise notices on your website before collecting personally identifiable information (PII), such as names or email addresses

Before collecting personal information such as names, phone numbers, and emails for your website be sure to clearly state why these details are being requested.

5) Offer customers an easy way to withdraw consent

The withdrawal of consent means that any collected data can no longer be used for the purpose it was originally intended. This is especially important if you collect and use sensitive personal information, such as medical records or financial reports.

The right to withdraw consent should exist in a consumer’s profile settings at all times so they don’t have to go through a lengthy process.

Data privacy is not just about security. It is about establishing a mutually beneficial relationship with your customers, where both parties feel they can trust one another.