Data is one of the most important and valuable assets of a business. Its security should be a top priority for any business, not only because of its significance but also to prevent expensive data breaches. Leading companies protect their data by designing systems using robust security measures. Several governments too have put regulations in place to ensure that misuse of customer data does not occur. This blog post takes you through data security and its importance in brief.

Protecting data to prevent losses

Determining the amount of data to be shared with third parties has been a challenging task for large companies. They have data of millions of customers who trust their privacy policies. Customers today have become more aware and concerned about privacy infringement issues. The failure of a company to ensure data security can cause data breaches leading to monetary consequences and a damaged reputation.

Understanding data privacy regulations

"Privacy by design" is also known as data protection through technology design. Regulatory firms like General Data Protection Regulation (GDPR) have established guidelines for businesses to implement them in a specific manner. The guidelines apply to businesses operating inside the European Union and European Economic Area. To comply with GDPR, companies must know all the personal data they hold or process. That takes us to the two basics of designing.

1. Data Flow Mapping:- Organizations possess large volumes of data. All the data flow must comply with GDPR. Data mapping brings out any unintended or unidentified uses. When we map data, we include parties who may interact with the data. With data protection and privacy services, you can create a system to identify and avoid risks while handling regulated data. It is collected, transferred, or stored in the system safely. The flow map adheres to the regulatory guidelines to ensure transparency.

2. Gap Assessment:- If you have a data privacy system already integrated into your business, you must keep it private and transparent to certain entities. Data privacy service providers carry out a thorough analysis. They identify gaps and potential breaches that violate the implied privacy regulations.

The above two steps complement the privacy by design methodology of data protection and privacy.

Implementing data privacy measures

It is essential to adopt data protection measures from the beginning. Data protection and privacy service providers enable you to keep track of data movements across the organization. They detect if there are any gaps, breach risks, or unidentified uses. You can devise a strategy to comply with regulations using the findings of data security and privacy assessment.

A data protection system gives you an extra layer of security for your valuable data. It enables you to evaluate data movements with better transparency. The system augments your efforts to manage projects and their life cycles with full compliance with regulations.

Concluding thoughts

Data protection and privacy management systems provide reliable support to your business. They address the growing concern among customers about the safety of their digital assets and data. DPP systems are essential not only for adhering to data protection regulations, but also to earn the trust of customers.

Data protection and privacy management systems protect a business from security and network breaches. You must have read about the data leaks encountered by global giants like Facebook and Amazon. These incidents consolidate the inevitable need for "privacy by design" for all businesses.

Oodles is here to safeguard your mission-critical business data

Are you having a tough time finding a data protection and privacy service provider to protect your business data? We have you covered with our experienced data privacy and protection team.

Our professionals are well-versed with data protection and privacy regulations to design robust systems that comply with the latest GDPR regulations. We also provide GDPR consultations services while analyzing the existing system to check its compliance with the latest EU GDPR guidelines.

Don't know where to start? Click here to speak to us.