Let’s face it, the business titans of our era, Google, Amazon, Alibaba and the rest have rapidly reached their dizzying heights over the last few years and consumer data has had a large part to play in their success. If your company isn’t working towards gathering data and building profiles of your customer, then you’re going to be left behind by those that do.
Even small companies nowadays will more often than not have a team of data analysts tasked towards taking the temperature of their market and developing usable insights about the demographics of their customers.
Put simply, this data is precious and whether lost to the ether or fallen into the wrong hands, the results could be disastrous for your business.
What would you do if you lost all your files?
Take a step back and imagine losing all of your company files and documents in one fell swoop and have a moment to think about how this might impact the coming year of business.
By happy chance, there are companies who specialize in protecting the data on your machines and can even retrieve lost files and documents in the event of such a situation. If your business relies on data to drive decisions and promote growth, then having a professional team on hand for data protection and security is essential.
Is your business GDPR compliant?
New GDPR (General Data Protection Regulations) laws could mean that a loss of data actually leaves you in breach of the law.
It’s now incredibly important to ensure that if you’re storing consumer data on your system or network, that you do so in a safe way that complies with the law. If not, your business runs the risk of a hefty fine and an investigation. GDPR came into effect in early 2018 but given a grace period has only recently become incredibly important, so make sure to store data in compliance with these regulations. For companies storing data, it now must be anonymized in order to protect individual identities, data breaches need to be reported, and a GDPR officer must be appointed to oversee that your company is adhering to the correct procedures.
Find out more about GDPR Requirements from the official PDF of regulations and learn how to ensure your business is compliant with changes to the law surrounding consumer data.
In summary, data plays and will continue to play an increasingly important role in modern businesses. Whether in the form of important confidential files and documents or consumer information, data is at the heart of business in the modern world. Because of this and due to the vast spread of online crime networks managing data in the safest possible way, it is paramount to the success of your business. Facing a data breach in your business could be catastrophic in a number of ways and could stoke the fires of corrupt activity online.
Taking the correct measures against cybercrime isn’t an option that businesses have the luxury of deciding upon anymore, and stricter laws now mean that protecting data is a real priority.