Importance of Data Security & Data Privacy

Information is the key, and it turns out to be the most valuable asset of any organization, including transaction details, knowledge sharing, communications with clients, virtual databases & IT infrastructure. Irrespective of any legal or regulatory restrictions, safeguarding your company’s data should be at the top of the priority list. Data security has always been a priority for every enterprise. By protecting it, organizations can prevent financial loss, consumer dissatisfaction, reputational harm, and disruption in business continuity.

Furthermore, government rules and regulatory mandates of data-security make it highly imperative for a company to ensure data security measures everywhere in the IT environment. It is more necessary in a shared and distributed environment where the critical information is shared among multiple stakeholders. Data security measures helps to protect business information from unauthorized access and malicious third-parties.

Data Privacy vs Data Security

Confidential business data and its security should not be treated lightly by enterprises that are accumulated or transferred every day. In order to safeguard fundamentally sensitive information such as digital identities, finances, business contracts, strategic blueprints and even medical records.

Cyber criminals and other malefactors look for loopholes to access volumes of potentially valuable data (in terms of money). However, not everyone is aware of or can comprehend the distinction between data privacy and security. As a result, the terms are frequently misunderstood or used interchangeably.

The distinction between privacy and security boils down to whose data is protected, how it is protected, from whom it is protected, and who is responsible for it. However, the primary difference between security & privacy is that security is inclined towards safeguarding data from malicious threats, whereas privacy is concerned with data usage – who is accessing what and why? 

Data security is meant to protect sensitive information. Data privacy deals with who is accessing which data that could be protected from cyber threats. Regardless of who the unauthorized person is, data security is primarily concerned with preventing unwanted access, mostly with malicious intent. Organizations can ensure this by deploying IT security tools and advanced technologies. IT security policies also play a big role to prevent sensitive business information from data breaches.

The Importance of data privacy and data security in current scenario

Financial data, enterprise data, healthcare information & other personal consumer or user data can become deadly if they get into the wrong hands. Due to some lack of secured access control mechanisms, enterprises might be subject to fraud and identity theft.

Furthermore, a data breach may jeopardize the security of the entire business set up. And once it happens, it exposes the confidential information to a competitor or in the gray market. Data protection regulations come into play in this situation. Safeguards against data loss or corruption are also included in this approach. SMEs and MNCs are also included in this approach. Every organization might face alarming consequences if they don’t have adequate information security processes in place.

Conclusion 

As our computing dependence rises, there are a lot of potential threats to our data. We can lose data due to a system failure, computer error, or a hacker’s manipulation. Private data and its security should not be treated lightly by enterprises as it is the core of any business. ARCON provides modern, advanced and industry-specific information security solutions that ensure business scalability, continuity and compliance.