Over the years, companies have amassed a vast amount of sensitive information about their customers. This data is largely collected as the basis for big data analytics for ad targeting.
As companies collect more and more sensitive data about their customers, the need for data security is increasing. In recent years, a large number of data breaches have proven that hackers are interested in this information and are willing to spend significant amounts of time and money to gain access to it. A business must take the necessary measures to secure its sensitive data, both for its customers and to protect its own ability to operate competitively.
Numerous data protection regulations have been passed and implemented in recent years . However, the rapidly evolving regulatory environment can make it difficult for companies to achieve and maintain the required levels of compliance
Many modern businesses are international or global, meaning their bases and operations can cross national borders. This can complicate their efforts to maintain proper compliance, as an organization may be required to comply with laws wherever it is located or where its customers are located.
Achieving and maintaining compliance with data protection regulations can be a significant challenge for any company. The first challenge businesses face is identifying any regulations that apply to them.
The GDPR has helped a little in this regard. An EU-wide regulation covers a large part of the target market for many companies. The rule also requires that equivalent protections be implemented at the national or corporate level so that companies can store EU data.
Once a company has identified the regulations that apply to it, it must achieve and maintain compliance, which can be difficult. Most regulations are couched more as general requirements, such as “use encryption to protect all personally identifiable information (PII),” rather than a checklist of security controls that must be implemented to achieve compliance.
Once a company has achieved compliance, it must also work to maintain it. Many regulations require audits where a company must demonstrate how specific security controls meet compliance requirements.
Achieving compliance with data protection regulations is important for every company. These regulations are designed to protect the personal data that consumers have entrusted to the organization. As a result, data protection regulations can include severe penalties for non-compliance, regardless of whether or not an actual breach has occurred.
One way it can help with compliance is by automating the discovery of data that must be protected under a specific regulation. Most personally identifiable information (PII) and protected health information (PHI) come in a specific format (i.e. phone numbers, email addresses, social security numbers, etc.). A data security solution can help you discover where this information is stored on a company’s network.
