Data Privacy Week 2024: Taking Control of Your Data

January 21-27, 2024 is Data Privacy Week. As one of the world’s leading identity solution providers, Ping Identity knows exactly what’s at stake with data privacy. In an era dominated by digital interactions, online connectivity, and ecommerce, Data Privacy Week is the perfect time to reflect on such an important topic.

In 2023, Ping Identity conducted an important consumer survey titled Brand Loyalty In the Age of the Digital Economy. One of the most startling findings from this survey is that only 10% of respondents trust the organizations that manage their data. While Ping is proud to offer solutions to data privacy problems with innovations like decentralized identity, we also want to spread the message about ethical data practices.

With digital transformation now touching every corner of the world, the responsibility to safeguard user data is paramount. As such, Ping Identity is thrilled to observe Data Privacy Week in 2024 with the global IT community.

Data Privacy Week was started by the National Cybersecurity Alliance (NCA) to spread awareness about data privacy and to emphasize the importance of giving people the power to control their own data.

Data Privacy Week is both a B2B and B2C initiative. As the NCA website explains, “Our goal is twofold: we want to help citizens understand that they have the power to manage their data and we want to help organizations understand why it is important that they respect their users’ data.”

Throughout the week of January 21-27, the NCA hosts virtual events to discuss a variety of important data privacy issues. The theme of Data Privacy Week in 2024 is “Take control of your data.” One of the main goals this year is to help consumers and businesses find a balance between privacy and convenience with data usage.

In an era when people use the internet for just about everything, consumers are beginning to realize they lack control over their data. The aforementioned Ping Identity survey found that 66% of consumers feel they will never be fully in control of their data online. Similarly, only 33% report being aware of how many companies have access to their data.

Ping Identity’s Chief Product Architect, Patrick Harding, explains the importance of data privacy:

As can be gleaned from Harding’s insightful words, data privacy isn’t just a buzzword - it’s a fundamental right in today’s world. Data privacy is about providing individuals with the power to determine how their information is handled.

With massive companies like Facebook and Google coming under scrutiny for their data-handling practices, it shouldn’t be surprising that there is a lack of trust among the public. Another finding in the Ping survey is that only 50% of respondents trust organizations that manage data.

To bridge the gap between IT companies and average consumers, organizations must prioritize transparency. Whether it be an ecommerce company or a popular mobile app, customers should have a crystal-clear understanding of how their data is collected, processed, and used. As Harding says, providing users with the option to opt-in or opt-out of data collection is not just a legal requirement - it's a matter of basic respect and trust.

Privacy laws play a pivotal role in protecting the basic rights of citizens, yet, it can be challenging to account for data privacy with rapidly changing technologies. To illustrate, while the United States has several notable laws such as the Privacy Act of 1974 and the HIPAA Act of 1996, the federal government has largely fallen behind on regulations with tech companies and the management of consumer data. As Forbes explains, “Since data collected by many companies is unregulated in most states, these companies can use, sell or share your data without notifying you.”

When privacy regulations are in place, individuals feel more secure in sharing their information online. To quote Harding again, "Ultimately, customers just want to know their data is being protected and not exploited. The majority (61%) of global consumers report that having privacy laws enacted to protect consumer data and knowing that the website vendor is complying with those regulations makes them feel more secure when sharing their information online."

Different U.S. states are taking it upon themselves to create laws that keep businesses from exploiting user data for profit. According to Bloomberg Law, “there are 12 states – California, Virginia, Connecticut, Colorado, Utah, Iowa, Indiana, Tennessee, Oregon, Montana, Texas, and Delaware – that have comprehensive data privacy laws in place.” Most notable among these is the California Consumer Privacy Act (CCPA), which gives consumers the ability to know what data is collected on them and how it is handled. California residents can also request that their data not be sold.

With the theme of Data Privacy Week 2024 being “Take control of your data,” there is perhaps no better time to discuss the importance of decentralized identity management. As Harding explains, decentralized identity management “empowers individuals with control of their data while reducing resource and compliance burdens for enterprises.”

Decentralized identity management solutions like PingOne Neo are game-changers in the realm of data privacy. With decentralized identity, a user stores important identity data in a digital wallet on their mobile device. When it comes time to conduct a transaction, a pair of public and private keys are created to let the user share the data required to verify their identity.

With more concerns mounting each year with data privacy issues, decentralized identity is a tool to help people keep their personal information personal. Since users store their own identity data on their own devices, they don’t have to worry about companies compiling personal data and selling it without their consent.

Decentralized identity also relieves organizations from many of the heavy burdens that come with data management in today’s environment. Once a platform like PingOne Neo is operational, it helps businesses verify identities more securely and less costly than traditional means. Not to mention, decentralized identity management streamlines compliance efforts and enhances operational efficiency.

Ping takes great pride in finding creative solutions to the biggest challenges in the identity industry. Data Privacy Week 2024 reinforces our commitment to identity solutions that benefit both users and organizations. Considering the amount of controversy and lack of regulation surrounding data privacy, PingOne Neo is perfectly positioned to help people keep their data private, while also reducing resource and compliance burdens for organizations.

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