In today’s digital economy, consumers are becoming increasingly aware of and concerned with how their personal information is being used, collected or shared. A recent McKinsey study found the majority (71 per cent) of respondents claimed they would stop doing business with a company if it gave away sensitive data without permission. Consequently, as consumers become more careful about data sharing, companies are learning that effective data protection makes for a good business advantage.
This Data Protection Day, Business Reporter spoke with eight industry experts to understand what organisations can do to keep data security at the top of the business agenda.
Simon Spring, Senior Account Director, EMEA at WhereScape, says the key is data automation. “Knowing where your data sits, how it’s being used and who has access to it is fundamental in strengthening your defenses when it comes to protecting one of your most valuable assets.”
“But where do you start? It has proved a challenge for many security teams, particularly in organisations where manually processing huge amounts of information effectively can be time-intensive, and error-prone. This is why organisations should not overlook the potential of Data Automation as a way of delivering significant value. When it comes to regulatory compliance, it can knock months or even years off your project time and reduce the risk of your organisation being in breach.”