We collectively create about 2.5 quintillion bytes of data every day, and how enterprises collect, process, store and monetize this valuable resource determines their business future. As cybercriminals hone their attack capabilities and regulatory bodies strengthen data security standards, organizations must establish policies and implement technologies to safeguard the integrity of this critical asset.
Achieving the highest levels of data privacy is paramount. This includes establishing transparency in how companies request user consent and abide by their own privacy policies as well as how they manage the data they collect. It also means implementing privacy-enhancing technologies and putting in place mechanisms to verify that protections are working effectively.
As a result, the concept of data privacy has become increasingly popular in both consumer and enterprise circles. A plethora of new privacy laws have sprung up around the world, and more are on the way — including California’s CCPA, which represents the most stringent state-level privacy law in the USA.
The definition of data privacy can vary, but most often it refers to the right of individuals to control how their personal information is collected and used by businesses. It covers principles such as purpose limitation, which stipulates that companies should have a clear, lawful reason for collecting data and clearly convey that to users; fairness, which ensures that data is only used in ways that are transparent to users; and storage limitation, which requires that businesses only keep data for as long as it’s needed. Sometimes referred to as the CIA triad, data privacy also involves ensuring that information is readily available in the event of a disaster or outage, such as an accidental loss or breach of sensitive data.