Consumers have raised data privacy to front-page news and included it as a criterion for brand selection and engagement as a result of numerous high-profile data breaches. Globally, consumers are gradually becoming conscious that they aren’t always informed or aware of how their personal information is utilized or shared. According to a survey cited by Security Magazine, 54 percent of consumers are now more concerned about protecting their personal information than they were a year ago.

Continue reading to find out why data privacy is important for your company and to see some simple solutions that can assist you in achieving your objectives. Better transparency and control over data use and sharing are essential given the expected daily creation of 2.5 quintillion bytes of data. Sensitive personal information may become available to hackers, rival businesses, and potentially violent nation-state attacks as a result of a data breach. Password reuse also indicates that compromised personal login information may have an effect on resources and apps used by businesses.

Why Data Security and Privacy are Important

In order to prevent illegal usage, data privacy involves protecting the confidentiality, integrity, and availability of the data. It is described as having control over how an individual’s Personally Identifiable Information (PII) is gathered, saved, or used. Companies like yours are accountable for maintaining the integrity of both consumer and employee data. For businesses, data security relies on PII to safeguard secret financial information, operations strategies, and intellectual property.

Toolkit for Data Privacy

Regulations governing data privacy are strict. If you don’t follow them, you risk paying fines, harming your company’s reputation, or even having to shut down. Here are a few online tools you can use to protect your data.

  • GDPR
  • CCPA

Business executives are increasingly conscious of how data privacy affects the bottom line in today’s always-on digital environment. CYB3R-X can help you manage data privacy, learn more today.