The Three-Part Approach for Future-Proofing Enterprises
In the first part of this blog series, we discussed the primary data security challenges identified as most significant for c-suite respondents from our executive research.
In the ever-changing landscape of modern business, harnessing the full potential of data has become imperative for enterprises aiming to future-proof their operations. However, to truly unlock this potential, organisations must critically assess their approach to data security across three vital areas.
These areas form the foundation for building resilient data strategies that not only safeguard sensitive information but also empower innovation and drive competitive advantage.
How Can Organisations Achieve Regulatory Compliance in Data Security?
Customers and employees increasingly prioritise and demand privacy protection. Even conscientious businesses face challenges navigating the complex web of existing and forthcoming regulations. Establishing trust with customers not only secures their loyalty but also facilitates deeper, more meaningful relationships.
When organisations take advantage of a data security platform that future-proofs for regulations and provides data governance, they will benefit from data-driven innovation and enhanced connection with customers.
To overcome the exploding costs and complexity of compliance, organisations must build compliance into their data strategy to reduce costs and complexity now and in the future.
What Are Effective Strategies for Data Protection to Reduce Business Risk?
Data protection comes in several shapes and sizes; security vendors rely on a variety of methods and technologies. Before an organisation makes good on their promise to fully protect customers’ data, it’s important that they understand the different methods of data classification and protection and the technologies behind it all.
An organisation’s most valuable assets must be protected throughout the enterprise, and customer data privacy must be ensured. Of course, breaches will happen, malware will invade, and authorised users will make mistakes with security controls—but if sensitive information itself is protected, it will remain safe.
Organisations must pick their data protection to customise the balance of security and usability to meet new data monetisation use cases and therefore keep up with the pace of innovation and technology.
How Can Sensitive Data Drive Business Growth and Innovation?
As businesses evolve, so does their relationship with data. Organisations are quickly realising the immense potential within their data. It becomes more than just bits and bytes stored on servers—it becomes a goldmine of insights waiting to be discovered. Businesses must prioritise security measures to safeguard their valuable data assets and maintain trust with customers, partners, and stakeholders.
That said, minimising data risk does not require minimising access. Data sharing and therefore usage is instrumental in driving business growth, as evidenced by Gartner’s findings, indicating that businesses capable of external data sharing with third parties can reap economic benefits three times greater than those unable to do so.
For their data protection and monetisation strategies to be effective, organisations must make sensitive data usable data to increase sharing internally and externally.
By proactively addressing these three areas, businesses can not only safeguard their valuable assets but also unlock new opportunities for growth and innovation. In an era where data is king, securing it effectively is paramount to future-proofing enterprises and building trust with customers and stakeholders alike.
You can access the full executive report here to find out more insights and statistics.