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Brace for Pressure: DataGrail Reports Worldwide Surge in Data Privacy RequestsDataGrail's 2024 Privacy Trends Report shows 246% boost in privacy requests since 2021 as consumers seek to clear personal data online Data Privacy request cost to businesses increases 36%, estimated to reach $881,000 per year, per one million identities SAN FRANCISCO, May 1, 2024 /PRNewswire/ -- Ahead of the RSA conference, DataGrail (Booth #243), a leader in data privacy, released its 2024 Data Privacy Trends Report, which illustrates consumers' growing desire to take control over their data and helps businesses understand what to expect amid the rising demands. The findings reveal that Data Subject Requests (DSRs) — formal requests made to a company by a person to access, delete or request not to sell/share the personal data that the company holds on them — increased by 32% from 2022 to 2023. Data deletion requests were the most common type of DSR, on average accounting for more than 40% of requests across businesses. As data privacy requests increase, findings show increased financial pressures on the brands processing them. According to Gartner, a single access or deletion request costs around $1,524 to complete. DataGrail's data suggests that a company handling one million identities receives 578 access and data deletion requests in an average year, meaning these DSRs could cost businesses nearly $1 million per year. Privacy Trends 2024 Report Key Findings
Consumers expect privacy regardless of location or legislation "Consumers want more control over their data even if they don't have legally protected privacy rights," added Barber. "No matter where you're located, organizations need to take the proper steps to ensure people trust you with their data." Most businesses are not honoring GPC "Do Not Sell" preferences: Unraveling the underlying risks DataGrail's research suggests that 75% of websites ignore GPC requests, which means most businesses are not respecting people's privacy requests. Some could be violating current laws or they are unprepared for upcoming legal changes. In fact, prominent law firm Gunderson & Dettmer recently reported a surge in privacy lawsuits. Ecommerce and marketing industries see the most data privacy requests Marketing tech (Martech) companies, typically in a business-to-business (B2B) setting experience the second-greatest volume of privacy requests, likely linked to the data obtained through online campaigns, surveys, customer relationship management (CRM) tools and more. Download the complete DataGrail 2024 Privacy Trends Report. DataGrail will also be at RSA, visit the team at booth #0243. Methodology To normalize the data across various company sizes, DataGrail calculated DSRs per one million identities. To account for variability, DataGrail used a "10% trim mean" calculation to determine benchmarks. The dataset includes DSRs submitted under the California Consumer Privacy Act (CCPA) and General Data Protection Regulation (GDPR), along with DSRs received in the U.S. and globally that don't fall under those regulatory umbrellas. As a United States-based company, with primarily U.S.-based customers, DataGrail's dataset may skew toward DSRs from the U.S. About DataGrail Headquartered in San Francisco, the world's most trusted brands partner with DataGrail on their data privacy journey, including Salesforce, FanDuel, Dexcom, Databricks, Instacart, amongst others. It has 4.8/5 stars on G2 and is backed by leading VCs and strategic investors, including Third Point Ventures, Felicis Ventures, Next47, Cloud Apps Capital Partners, Operator Collective, HubSpot, Okta Ventures, and American Express Ventures. Visit www.datagrail.io or follow DataGrail on Twitter and LinkedIn to learn more. View original content:https://www.prnewswire.com/news-releases/brace-for-pressure-datagrail-reports-worldwide-surge-in-data-privacy-requests-302132462.html SOURCE DataGrail |