How can companies ensure that they are collecting and utilizing customer data ethically and in a way that builds trust with their customers in today's data-driven market environment?

Companies can ensure they are collecting and utilizing customer data ethically by being transparent about their data collection practices and obtaining explicit consent from customers. They should also prioritize data security and privacy by implementing robust security measures and compliance with data protection regulations. Building trust with customers involves using data to personalize experiences and provide value, while also being mindful of the potential risks and impacts on individuals' privacy. Companies should regularly review and update their data policies and practices to adapt to changing market trends and customer expectations.