How can teams strike a balance between utilizing real-time customer data to innovate their CX strategies while also ensuring data privacy and security for their customers?

Teams can strike a balance by implementing robust data privacy and security measures, such as encryption and access controls, to protect customer data. They should also ensure compliance with relevant data protection regulations, like GDPR or CCPA, to maintain customer trust. Utilizing anonymized or aggregated data for analysis can help drive innovation in CX strategies without compromising individual privacy. Regular audits and monitoring of data usage can help teams identify and address any potential risks to customer data.