Market research is an activity that helps companies or organizations make better decisions by collecting, analyzing and interpreting relevant information about the market, consumers, competitors, etc. A market research company is a professional organization that provides market research services, and its core competitiveness lies in its ability to obtain, process and utilize large amounts of data. However, in the era of digital economy, data is not only an important factor of production, but also a sensitive asset, and its security and privacy are receiving more and more attention and supervision. How to protect the data security and privacy of market research companies and their customers has become an urgent problem to be solved.

Data Security and Privacy Needs of 1. Market Research Companies

The data security and privacy needs of market research companies can be analyzed from the following three dimensions:

（1) Data Lifecycle

The data life cycle of a market research company includes the stages of data collection, storage, transmission, processing, sharing, and destruction. At each stage, there are different levels of data security and privacy risks, such:

In the data collection phase, malicious tampering, forgery, or theft may be encountered, resulting in data quality degradation or leakage;

During the data storage phase, events such as physical damage, artificial deletion or leakage may occur, resulting in data loss or leakage;

During the data transmission phase, attacks such as interception, tampering or disclosure may be encountered, resulting in data integrity or confidentiality damage;

In the data processing stage, problems such as wrong operation, illegal use or leakage may be encountered, resulting in damage to the accuracy or legality of the data;

During the data sharing phase, risks such as unauthorized, out-of-scope, or disclosure may be encountered, resulting in damage to data ownership or control;

During the data destruction phase, risks such as incomplete removal, recovery, or disclosure may be encountered, resulting in impaired data durability or traceability.

Therefore, market research companies need to implement effective technical and management measures throughout the data lifecycle to ensure that data security and privacy are fully protected.

（2) Data Sensitivity

Market research companies involve many types of data, some of which are sensitive, such:

Personal information refers to all kinds of information that can identify a specific natural person alone or in combination with other information, including name, ID number, telephone number, address, email address, bank account number, health status, consumption habits, etc;

Trade secret refers to the technical information and business information that is not known to the public, can bring economic benefits to the obligee, is practical, and has been protected by the obligee, including product design, production process, market strategy, customer list, etc;

Important data refers to data related to national security, economic development, social and public interests, including infrastructure operation data, government data, social security data, public health data, etc.

If this sensitive data is leaked or misused, it may cause serious damage to the data subject or data owner, such:

The disclosure or misuse of personal information may result in the violation of personal privacy, property loss, credit damage, identity theft and other consequences;

The leakage or abuse of trade secrets may lead to the decline of enterprise competitiveness, the loss of market share, the damage of brand image and other consequences;

The leakage or misuse of important data may result in threats to national security, hindered economic development, and damage to social and public interests.

Therefore, market research companies need to classify different types and levels of sensitive data and take appropriate protection measures to prevent data leakage or misuse.

（3) Value of Data

The data value of market research companies is reflected in the following aspects:

Data is the core asset of a market research company and the basis for providing services and creating value;

Data is the core competitiveness of market research companies, is the embodiment of its differences and advantages with other peers;

Data is the core innovation of market research companies and the driving force for them to develop new products and expand new markets.

These aspects show that the market research company's data has a high value. However, this value may also give rise to external or internal attacks or usurpation, such:

External attackers may steal or destroy the data of market research companies through hacking, phishing and other means to obtain improper benefits or cause malicious interference;

Internal invaders may steal or leak data from market research companies through insider leaks, employee turnover, etc., for personal gain or to provide intelligence to competitors.

Therefore, market research companies need to raise awareness of the value of their own data and strengthen the prevention and response to external attacks and internal encroachment.

Data Security and Privacy Policies for 2. Market Research Companies

Market research companies can adopt the following strategies when dealing with the challenges of data security and privacy protection:

（1) Develop data security and privacy policies

Market research companies should formulate data security and privacy policies that comply with national laws, regulations and industry standards, and be open and transparent to internal and external parties. These policies should include the following:

Objectives and principles of data security and privacy protection;

Responsibilities and obligations for data security and privacy protection;

Specific measures and norms for data security and privacy protection;

Monitoring and evaluation mechanisms for data security and privacy protection;

Penalties and remedies for violations of data security and privacy protection.

Data security and privacy policies are the basis for market research companies to fulfill their data security and privacy responsibilities, and are also the prerequisite for market research companies to establish trust and cooperation with customers, partners, and regulatory authorities.

（2) Establish data security and privacy management system

Market research companies should establish a sound data security and privacy management system, including the following:

Data security and privacy management organization refers to the specialized agency or personnel responsible for formulating, implementing, monitoring and improving data security and privacy policies, such as data protection officers, data security committees, etc;

Data security and privacy management processes, which refer to standardized steps and methods for regulating business activities related to data security and privacy, such as data classification and grading, data collection licensing, data use authorization, data sharing agreements, etc;

Data security and privacy management tools refer to technical equipment or software that supports data security and privacy management processes, such as data encryption, data desensitization, data backup, and data auditing.

Data security and privacy management system is the key for market research companies to achieve data security and privacy protection, and it is also the guarantee for market research companies to improve data security and privacy.

（3) Adoption of privacy-enhancing technologies

Market research firms should adopt privacy-enhancing technologies (Privacy Enhancing Technologies，PETs) To minimize the exposure or leakage of personal information or sensitive information without affecting the effect of data analysis. These technologies include the following:

Privacy protection data collection technology refers to the use of methods to hide or obscure personal identity or characteristics when collecting personal information or sensitive information, such as anonymization, pseudonymization, differential privacy, etc;

Privacy protection data processing technology refers to the use of methods to ensure the transparency or verifiability of the data processing process when processing personal information or sensitive information, such as homomorphic encryption, multi-party computing, blockchain, etc;

Privacy protection data sharing technology refers to the use of methods to limit or control the scope or manner of use of data recipients when sharing personal information or sensitive information, such as access control, digital watermarking, digital rights management, etc.

Privacy enhancement technology is an effective means for market research companies to protect personal information or sensitive information from disclosure or abuse while ensuring the quality of data analysis.

（4) Data security and privacy training

Market research companies should conduct regular data security and privacy training to raise employees' awareness of the importance of data security and privacy, and to enhance employees' knowledge and skills in data security and privacy policies, processes, tools, and technologies. These trainings should include the following:

Data security and privacy basic knowledge training, refers to the introduction of data security and privacy related concepts, principles, laws and regulations and other basic knowledge;

Data security and privacy business knowledge training, refers to the introduction of market research companies in various business links involved in data security and privacy issues and their response methods;

Data security and privacy practice skills training, refers to the demonstration or simulation of market research companies in the use of data security and privacy management tools, technologies and other practical skills;

Data security and privacy case analysis training, refers to the analysis of market research companies or other institutions in the data security and privacy of typical cases, lessons learned and improvement measures.

Data security and privacy training is an important way for market research companies to enhance employees' awareness and ability of data security and privacy, and it is also an effective way for market research companies to create a data security and privacy culture.

Data Security and Privacy Practices 3. Champ Consulting

Shangpu Consulting is a professional market research company with rich industry experience and customer resources, providing customized market research services for all walks of life. Champ Consulting attaches great importance to data security and privacy protection and has taken the following practical measures:

（1) Formulated the "Champ Consulting Data Security and Privacy Policy" and published it publicly on its official website, clarifying its commitment and norms for data security and privacy protection to all stakeholders; (2) A data security committee directly led by the president has been established to formulate, implement, supervise and improve data security and privacy policies, and a full-time data protection officer has been established to handle daily affairs related to data security and privacy; (3) Adopting the internationally acceptedISO/IEC 27001Information security management system standards, the establishment of a sound data security management process, and through the third-party certification body audit, obtained.ISO/IEC 27001Certificate; (4) Adopting the internationally acceptedISO/IEC 29100Privacy framework standards, established a sound privacy protection management process, and passed the third-party certification body audit, obtained.ISO/IEC 29100Certificate; (5) Adopt a variety of privacy enhancement technologies, such as differential privacy technology when collecting personal information, homomorphic encryption technology when processing trade secrets, block chain technology when sharing important data, etc., to ensure that the effect of data analysis is not affected, while minimizing the exposure or disclosure of personal information or sensitive information; (6) Conduct regular data security and privacy training, including basic knowledge training, business knowledge training, practical skills training, case analysis training, etc., to improve employees' awareness of the importance of data security and privacy, and enhance employees' knowledge and skills in data security and privacy policies, processes, tools, technologies, etc.

Champu Consulting's practical experience in data security and privacy protection provides a model for other market research companies to learn from. Of course, Shangpu Consulting also constantly updates and optimizes its data security and privacy policies, processes, tools, technologies, etc. according to market changes and customer needs to maintain its leading position in the field of market research.

4. epilogue

As data collection, analysis and providers, market research companies are facing major challenges in data security and privacy protection. This paper analyzes the needs and risks of market research companies in data security and privacy protection, as well as the strategies and measures to deal with them, from the three dimensions of data life cycle, data sensitivity and data value. Taking Shangpu Consulting as an example, this paper introduces its practical experience in data security and privacy protection, including formulating data security and privacy policies, establishing data security and privacy management systems, adopting privacy enhancement technologies, and conducting data security and privacy training. The purpose of this paper is to provide reference guidance for market research companies on data security and privacy protection.