Data privacy safeguards the collection, use and disclosure of personal and sensitive information. It also advocates for individuals’ right to control their data—including the ability to request deletion. Data privacy includes a broad set of principles that appear in many different frameworks and regulations around the world, including data protection laws in the U.S. like the California Consumer Privacy Act (CCPA) and at the European Union level.
Companies have access to a treasure trove of information—from PII such as social security numbers, banking details and medical records to proprietary and sensitive business information like intellectual property. This valuable asset can have significant financial impact if compromised by cybercriminals, whether the result is identity theft or a loss of customer trust that’s difficult to recover from.
As an organization’s data assets become increasingly complex, the need for robust privacy and protection policies becomes more critical than ever. The complexities of today’s business landscape require the implementation of best-practices frameworks for data management, vetting of third-party partners and monitoring compliance with global regulatory standards.
A key component of a sound data protection strategy is implementing a data catalog that serves as a single source of truth for an organization’s data landscape. It’s important to also implement authentication and authorization processes, which help ensure that only authorized individuals can access data. These processes can include multi-factor authentication, which requires users to prove their identities using something they know (e.g., a password), something they have (e.g., a security token) or something they are (e.g., a fingerprint).