Overcoming the Fear of Missing Out on Data

In the contemporary information era, data is fundamental for organizational operations. While Big Tech companies leverage extensive data and AI technologies to advance, EU regulations such as GDPR advocate restrained and purposeful data collection. This growing trend in data aggregation poses a critical challenge for modern organizations: excessive data collection risks non-compliance with stringent data protection regulations, potentially damaging an organization's reputation and legal standing, and increasing the likelihood of data breaches, thus compromising confidential information and cybersecurity posture. This study employs an expert panel method to balance extensive data collection and harvesting and the imperative to uphold data privacy and security, thereby ensuring data integrity. This research gathers expert perspectives on the primary issues surrounding data collection and potential mitigation strategies. The paper aims to provide valuable insights and practices to help organizations navigate the complexities of data collection while maintaining compliance and security, assisting organizations in adeptly countering the fear of missing out on data.