In what ways can companies strike a balance between leveraging digital tools to gather customer data and maintaining a customer's privacy and trust in today's increasingly data-driven business landscape?

Companies can strike a balance by being transparent about the data they collect and how it will be used. They should also obtain explicit consent from customers before gathering their data. Implementing strong data security measures and complying with regulations such as GDPR can help build trust. Additionally, providing customers with control over their data, such as the ability to opt-out or update preferences, can help maintain their privacy and trust.