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Will data privacy make businesses more competitive?
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Data privacy under the GDPR, machine learning, and more
In this week’s Computer Weekly, we take an in-depth look at GDPR – the new EU General Data Protection Regulation.
With a May 2018 deadline and severe fines for non-compliance, organisations need to prepare for what could be the most significant changes in data management in the past twenty years.
We also hear how one firm is using machine learning to revolutionise online fashion retail, examine how CIOs can apply lessons from buying software to improve digital transformation, and much more.
Read the issue now.
These are also closely related to: "Will data privacy make businesses more competitive?"
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Data protection: Not just about personal data and compliance
Despite the focus on data protection, many organisations are still leaving their data wide open for attack through the digital equivalent of leaving the front door open and the windows unlocked from a hacker perspective.
Fortunately, the need to comply with the General Data Protection Regulation (GDPR) from 25 May 2018 and planned UK legislation designed to align perfectly with the GDPR is likely to drive most companies handling EU citizens’ data to reassess their data protection capabilities, particularly in relation to personal data.
However, the need for every business to pay attention to data protection is underlined by the fact that data breaches have been shown to have a direct correlation to falls in share prices, sometimes wiping off tens of millions from the market value.
Data protection is not only important from a compliance and business value protection point of view, it is also key to fostering the digital economy and gaining a competitive edge, according to UK information commissioner Elizabeth Denham.
Failure to protect and handle data correctly can also result in punitive actions for companies participating in the digital economy, as Google found out recently when a consumer protection organisation in Denmark asked the government to investigate allegations that Google is breaking privacy laws by not limiting how long it stores personal data.
As companies move increasingly into the cloud, it is important that they adapt their data protection strategies accordingly, but at the same time, experts say enterprises should not forget tape storage when it comes to data protection, nor should they overlook cloud storage because of the agility it affords.
However, before launching into cloud-based storage, there are several key questions organisations need to ask to ensure that a cloud-based data storage and protection strategy is right for them.
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Data Privacy Is Good for Business
It bears repeating that protecting the privacy of customers, clients, employees, and all others who are connected to the data under your control is a sound, profitable business practice.
Access this white paper to learn what data privacy means in the current day, how it breeds success, and why the increasing volume of data (and breaches) makes it more important than ever before.
