As companies embrace remote access, bring-your-own-device (BYOD), the Internet of Things and other technologies, it becomes increasingly hard to keep data private. Data storage and management require robust infrastructure, solid security controls, a thorough monitoring, and well-thought out policies for data governance. In addition, organizations may have to deal with multiple types of privacy laws at different industries, government and regional levels. This makes achieving data security difficult and requires regular risk assessments and updates.

Individuals are in control of the way their personal information is collected, stored and used. It helps companies build trust, ensure ethical practices and encourage innovation while respecting the privacy of each individual. Data privacy is crucial for protecting personal data, establishing trust, observing laws and regulations, ensuring the continuity of business and preventing cyberattacks which could threaten the bottom line.

Data security is the process of securing sensitive data from unauthorised access, theft or loss throughout its entire lifecycle. Data security involves techniques and processes such as encryption, hashing and tokenization in order to protect data both at rest and while it is moving. It also includes authentication procedures and authorizations that check an individual’s identity in order to determine if they are allowed access to data. Multi-factor authentication, for instance will ensure that only authorized users have access to sensitive information. The encryption also makes it impossible for hackers to access confidential files. This can reduce the chance of a breach of data and protect confidential communications, intellectual property or adversely affect data analytics. Businesses often underestimate the complexity of data security and do not put enough resources into it, despite its importance.

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