What is Data Security and Why Does it Matter?

June 9, 2021
|
Team CloudAdvisors
Share on linkedin
Share on twitter
Share on facebook

Data security is a relatively new issue for the average internet consumer to be concerned about. As the use of software grows in popularity, so does the amount of data available online. As we all know, data is power in the selling world, and it didn’t take long for online marketers to realize all the data the online world had to offer.

It also wasn’t until recent years that laws were developed around the use and privacy of personal data. This in turn brought concerns around stealing data to the front of consumer’s minds.

The Facebook – Cambridge Analytica data scandal is one that is still fresh in the minds of most internet users. Prior to the lawsuit, data security and data harvesting were relatively niche topics – unknown to the average internet user. Since the 2016 scandal and the use of private data for political gain, online consumers have improved their data protection savvy. Knowledge regarding Instagram listening in on conversations, cookie tracking, and manipulated algorithms have become more commonplace. Meanwhile, internet use policies and tracking laws have been updated to protect the user.

While data security awareness has increased, we should still be asking what measures companies are actually taking to protect your data from third parties threats. Thankfully, who you choose to give your data to initially is within your control. The smart consumer should be concerned about their data. They should choose to do business with companies that place privacy high on their list of priorities.

So with that, why should you be concerned with data security in the first place?

What is Data Security?

In short, because the cost of failure is too high. While data security can be a vague subject, it can be thought of in real world terms. Concrete examples such as protecting your family from intruders, your business from fraud, or yourself by wearing a seatbelt – in your daily life, you take precautions against risk and its consequences. In these situations, it can be easier to understand the necessity for safety and protection. Data security is no different.

Ask yourself how you feel about the following:

  • Would you want yours or your children’s medical information to be publicized?
  • Would you give strangers access to your phone, and let them download and share your photos, emails, and private conversations?
  • If a stranger knocked on your door, would you let them in your home to look around as they please?

In a nut shell, this is data security. It’s the simple measures you take to keep information private from strangers online. Unfortunately, keeping your data secret online isn’t as easy as keeping your phone away from the hands of strangers. 

This brings us to the importance of data security and privacy, especially in the midst of 2021. Data security is the practice of protecting digital information from unauthorized access, corruption, or theft. Contrary to what most people think, data security is more than the security of software applications or the external security of devices. It includes policies and procedures established within organizations themselves.

What's Happening Today?

In today’s tech world, a vast amount of data has been created and manipulated as technology continues to grow and adapt. COVID-19 has made digital transformation a necessity, and has also accelerated the need for organizations to switch to cloud-based systems in order to work remotely. It is important to note that 50% of all corporate data is stored in the cloud.

This switch has made companies vulnerable to data breaches. Unfortunately, nearly 86% of Canadian security leaders stated that their organization suffered some kind of breach in 2020 after starting to work from home.

The need for data security is more important than ever, and people are starting to take notice. Users are becoming more skeptical of how organizations manage and use their information. Consumers are starting to value companies that keep their data secure and protected.

Companies hoping to succeed in this digital age must put data privacy first. Data protection is rapidly becoming essential to keep customer trust and loyalty.

Why Does it Matter?

Companies today have an enormous responsibility to secure their data, and to protect the people who trust their services. Improving security requires leaders to train the people who access and manage their data. It means investing in education, teaching employees the impact of their role, and encouraging best practices around secure operations.

So how can leaders start? By making security a priority through sufficient budget and assigning accountability. Companies should continue to learn, and ask for help in areas they’re not experts. Organizations need to prioritize security internally, to not only adapt to this changing digital world, but to maintain the level of trust and loyalty between their business and their customers.

CLOUDADVISORS IS CANADA'S
EMPLOYEE BENEFITS MARKETPLACE.

Share With Colleagues

Share on linkedin
Share on twitter
Share on facebook

Why do we ask for this information?

CloudAdvisors works by connecting businesses with benefit advisors.

We use your job title, company, and phone number to confirm you are a real person, and that you don't already exist in our system. We ask for your province to match you with an advisor in your area.

Sign up for EAP QUOTE ACCESS

CloudAdvisors will connect you to an Advisor partner in your area. You'll receive login details so you can start browsing solutions and quotes today!