There are several considerations in regards to the privacy of your content tracking data. The first is whether your site contains personal data such as user profiles and personal information within the content blocks being tracked. If this is the case, then it is quite possible that personal data could be pulled through as content labels within your analytics. For example, imagine a banking website with a content block that is named after an individual’s name, and which contains an interaction on the link of Submit Loan Application. This reveals two attributes that could be linked together to both identify an individual and suggest something about that person’s intent.
Another potential privacy risk comes from your users’ actions when you make use of anything that can pinpoint a specific user such as the User ID feature. In this case, while they are logged in, if they were to click on revealing elements like Apply for a Visa or click on a resource for people recently diagnosed with an illness, then you may end up collecting and revealing personal data that a user may not be comfortable sharing for analytics purposes.