Security and privacy of data are two of the most important elements of a company’s risk management strategies. Together, they safeguard sensitive information while ensuring it is always accessible. Without these two elements businesses could face significant risks and risk losing valuable assets in the event of a data breach. Data security ensures the integrity of data while privacy policies set standards for the manner in which personal information can be gathered and used.
In the technology-driven world of today, companies have access to a wealth of consumer information. This is why many consumers are concerned about how their personal information is being used and whether it’s being secured. A single data breach can destroy years of trust and can result in negative publicity that harms businesses in the long run. Companies that prioritize data protection and privacy build loyalty with customers and can gain competitive advantage.
Data privacy is also referred to as information security. It is about the secure storage and usage of personal information. Data improve your data security and privacy protection privacy is about the rights of individuals to control what data is being collected, how it’s used, who is able to access it and when they may share it with other people. It is usually addressed by government and industry regulations, like GDPR in Europe or the California Consumer Privacy Act (CCPA) in the United States. Privacy protection entails compliance with laws and regulations as and ensuring that your data is secure and encrypted in all times.