Weak data practices put consumer trust at risk for your business.

Businesses have been collecting more and more data over the past year.Eighty-six percent of people are more worried about data privacy than they used to be,found. As data collection has ramped up in recent years, 40% of general-population respondents now say they don't trust companies to use their data ethically.

But the risks go beyond regulations and financial sanctions. There is a reputational cost involved with not being transparent and ethical. Lucas said he perceived a gradual trend toward giving people privacy rights according to the highest standard available, given that there are different regulations across different geographies.

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