In response to the changing data privacy landscape created by the enactment of the European General Data Protection Regulation (GDPR) last year, CPO Magazine has released a comprehensive report outlining the challenges and priorities of data protection and privacy officers around the world in 2019.
The report is based on a survey of 252 global privacy professionals working for a wide range of organizations across 14 different industries.
As the report outlines, organizations are taking important preliminary step to build a privacy-aware culture and enhance their governance of data processing activities. But are they doing enough?
1 of 2 organizations spend less than $250,000 annually on data protection and privacy
1 of 2 organizations allocate less than 5% of their governance, risk and compliance budget on data protection and privacy
1 of 4 organizations have only a single employee handling their data protection and privacy function
As more nations around the world enact privacy regulations based on the GDPR in 2019, the findings of the report are especially relevant for any organization looking for insights on how to allocate budgetary and other resources to address the most important data privacy issues.