Businesses are realizing that, with the increased focus on data breaches and cyberattacks it is crucial to have the right security measures in place for protecting their most valuable assets. This includes security measures such as encryption, firewalls, and authentication, but also guidelines that govern how information is stored, used, and shared.
Data privacy covers these areas of control, including making sure that personal information is only collected for the purpose for which it’s needed and that companies don’t store or share that information with untrusted third parties. It also means providing customers with clear and easy-to-understand guidelines regarding how their personal information is used, as well as giving them the ability to opt-out from those purposes. It also requires compliance with a range of privacy regulations for data, including GDPR, CCPA, and HIPAA.
Modern business environments are complicated due to wireless, remote access, bring your personal device, smart devices and internet of Things technologies. These technologies require robust access controls and a careful infrastructure management, as well having a thorough understanding of laws at the local, state, province or country level.
You are at risk of a costly breach, which could affect your reputation and result in you losing customers, and result in lawsuits or fines. Also, you risk that you’ll lose crucial information that could allow you to develop innovative products and services for your clients. In the end the importance of privacy and data security protection is not overstated.