How can companies effectively balance the use of customer data to create personalized experiences without compromising customer privacy and trust?

Companies can balance the use of customer data by being transparent about how they collect and use data, obtaining explicit consent from customers before using their data, and implementing strong data security measures. They can also give customers control over their data by allowing them to opt out of data collection or choose what information they share. Additionally, companies can prioritize data privacy and protection in their business practices and comply with relevant regulations to build trust with customers.