Corporate Data Privacy Today; A Look at the Current State of Readiness, Perception and Compliance
FTI Consulting recently conducted a survey of more than 500 data privacy leaders of large, U.S.-based companies. The results illustrate the state of data privacy in today’s corporations, giving insight into the programs, perceptions and strategies at play.
Key themes came to light in the responses that provide legal, compliance, IT and privacy teams with ways to benchmark their own initiatives against their peers, including:
- In the coming year, 97% of organizations will increase their spend on data privacy, with an average increase of 50%.
- Potential losses from a data privacy crisis event were calculated at $79 million.
- Nearly 60% of respondents agreed with the statement: “We don't have the resources in our organization to ensure that we are fully compliant with data privacy regulation."