Data Related Concepts

Data Anonymization

Data anonymization is the process of removing personally identifiable information from data set. It reduces the risk of unintended disclosure when sharing data between countries, industries, and even departments within the same company. It also reduces opportunities for identify theft to occur. The European Union’s new General Data Protection Regulation (GDPR) demands that stored data on people in the EU undergo either anonymization or a pseudonymization process. Collecting anonymous data and deleting identifiers from the database limit the ability to derive value and insight from data. A 2021 Cisco Data Privacy Benchmark Study revealed that companies that invested in a better privacy experience got almost double in returns, with a 76% increase in customer trust.