How can companies balance the need for collecting and utilizing customer data for personalized marketing strategies with the responsibility of protecting that data from cyber threats and breaches?

Companies can balance the need for collecting and utilizing customer data for personalized marketing strategies by implementing strict data privacy policies and obtaining explicit consent from customers before collecting their data. They can also invest in secure data storage systems and encryption methods to protect customer data from cyber threats and breaches. Additionally, companies can regularly conduct security audits and train employees on best practices for handling customer data to minimize the risk of data breaches. Overall, it is crucial for companies to prioritize both the collection of customer data for marketing purposes and the protection of that data to maintain trust and loyalty among customers.