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RESEARCH, ANALYSIS & TRENDS

Privacy is now mission critical for

organizations worldwide, Cisco study

reveals

Cisco published its 2022 Data Privacy privacy investment rising with an average budget up
Benchmark Study, an annual global review of 13%, there's no doubt that privacy continues to grow in
privacy corporate practices, on the impact of importance for organizations, regardless of their size or
privacy on organizations and their views towards location," explains Harvey Jang, Cisco Vice President
data privacy. and Chief Privacy Officer. "We also see privacy growing
to be part of the vital skills and core responsibilities for
The 2022 report found that privacy is mission-critical, security professionals. This year's study confirmed that
as 90% consider privacy a business imperative. The aligning privacy with security creates financial and
survey showed privacy investment continues to rise maturity advantages compared to other models."
and organizations see a high ROI from privacy
spending. Privacy's Return on Investment (ROI) remains high
for the third straight year, with increased benefits for
Privacy has become a true business imperative and small- to medium-size organizations. More than 60% of
a critical component of customer trust for organizations respondents felt they were getting significant business
around the world. For the second year in a row, 90% of value from privacy, especially when it comes to
the respondents said they would not buy from an reducing sales delays, mitigating losses from data
organization that does not properly protect its data, and breaches, enabling innovation, achieving efficiency,
91% indicated that external privacy certifications are building trust with customers, and making their
important in their buying process. company more attractive.

"With 94% of organizations saying they are reporting Respondents estimate their ROI to be 1.8 times
one or more privacy-related metrics to their board, and spending on average. While this continues to be very

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