How can companies strike a balance between utilizing customer data for personalization and respecting individual privacy rights in an increasingly data-driven world?

Companies can strike a balance between utilizing customer data for personalization and respecting individual privacy rights by being transparent about their data collection practices and obtaining explicit consent from customers before using their data. They can also implement strict data security measures to protect customer information and only collect data that is necessary for personalization purposes. Additionally, companies can provide customers with control over their data by allowing them to easily opt-out of data collection or delete their information upon request. Overall, companies should prioritize building trust with their customers by demonstrating a commitment to privacy and data protection.