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Why Data Privacy Is More Important Than Ever

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You don’t have to be in a leadership position at your organization to understand why data protection and privacy is important. With remote workforces on the rise, keeping track of data can be more difficult with employees in many different places.

Data is a valuable asset for every organization. Consumer information is collected to create a more tailored experience and give companies information on their audience. If you’re not convinced data privacy should be at the forefront of your business strategy, at least we can come to terms with its importance to protect your information as a consumer.

There have also been attempts by the government to create laws to protect consumers’ information. According to Techcrunch, “the California Consumer Privacy Act, or CCPA, is a state-level law that requires, among other things, that companies notify users of the intent to monetize their data, and give them a straightforward means of opting out of said monetization.” This gives consumers the right to deny organizations access or use of their data without their permission. While this is great for consumers, it could mean trouble for organizations that aren’t complying correctly.

 

DATA IS VALUABLE

Still not sold on why you should invest in a strategy to keep your data secure? We’ve come up with the top four reasons of why data privacy should be important to you and your organization.

  1. PROTECT DATA FROM A BREACH

This one’s obvious and the easiest to put an ROI on. How much money and time would your organization lose if you had to work on the crisis of a data breach?

  1. ENSURE FUNCTIONAL AND EFFICIENT BUSINESS OPERATIONS

If data isn’t top of mind at your organization, chances are you might not be using your data to its fullest potential, either. Your organization’s data can be put to work to get actionable insights to make better business decisions.

  1. SAVE MONEY

There are plenty of laws, compliance acts, and regulations that warn you of the financial ramifications of not keeping your data in regulation with law. Instead of being fined or sued later, it’s important to know your data regulations are in line with the law.

  1. MAINTAIN TRUST WITH YOUR EMPLOYEES AND CURRENT CLIENTS

No one wants to be known as the company in the news who failed to meet compliance regulations. Keep your organization’s integrity by taking measures to enact data privacy and protection.

 

KEEP DATA PRIVACY TOP OF MIND

So, you get it now. Data privacy is important for both consumers giving access to their data and organizations collecting data. What will you do to ensure change is taking place or that you’re effectively maintaining your data privacy efforts?

We’ve given you a few simple steps to get started putting data privacy at the forefront of your business strategy.

  1. Allot a budget (and time) to work towards better data privacy in your organization
  2. Audit your current data privacy efforts
  3. Research or work with a technology partner to determine the best steps for your organization

Need help getting started on your data strategy? Reach out to one of our consultants for a free consultation.