Data Privacy Budget and Solutions Forecast 2020
FTI Consulting surveyed over 500 corporate data privacy leaders to understand the solutions, strategies, and budgets companies have planned to address data privacy challenges in the coming year.
The two-part survey report illustrates how organizations are balancing the costs and risks of managing data in an ever-changing data privacy landscape. In part one we discussed the importance of implementing a strategic combination of people, process, and technology to mitigate data privacy risk. In part two, we cover emerging plans and share corporations’ views of today’s uncertainties.
Some key findings include:
- 78 percent agreed with the statement: "The value of data is encouraging organizations to find ways to avoid complying fully with data privacy regulation."
- 87 percent of respondents believed that steps toward compliance will mitigate regulatory scrutiny. More than half strongly agreed with this idea.
- 44 percent said they expect a lack of awareness and training to be the key data privacy challenge of the coming year.