Data security threats have increasingly become more advanced and evolved over the years. No decision maker wants to see their organisations be profiled in major media outlets as being asleep at the wheel if a massive data breach, ransomware attack or malicious insider incident unfolds at their organisations.
With technology evolving at an extremely rapid pace, it is increasingly vital to have your data protected, and risks mitigated especially when it comes to dealing with sensitive or regulated data. The sphere of protection needs to be multi-faceted; we need to not only protect, but to mask, anonymise and secure data to ensure that data security, privacy, governance, risk and compliance are well taken care of for any organisation, especially in the context of regulated industries where critical data is being stored.
Our study on the Sensemaking Maturity Index 2020 with Forrester Consulting has shown that 63% of the organisations are working towards improving their data protection and security technologies within the next 6 months, but there is a stark 59% of organisations facing challenges on data privacy and maneuvering around security regulations.
What can decision makers do about data protection and how do they go about it?
Sensitive data, including Personal Identifiable Information (PII) and Protected Health Information (PHI) data can be managed securely in a codified manner via our Cloud Management Platform. We partner with SecuPi to deliver data-centric security and compliance capabilities with policies compliant with global data privacy guidelines, including the Singapore Personal Data Protection Act (PDPA).
We have also co-developed a white paper that shares how organisations should adopt a data-centric and risk-based strategy to manage risk associated with data. It includes details such as managing risk associated with the collection, storing, processing, sharing and usage of sensitive or regulated data. This can include PII under EU-GDPR or Singapore’s PDPA, PHI under USA HIPAA, Non-Public Information (NPI) or Intellectual Property (IP).
Data is the single most valuable asset for all organisations – protecting and controlling access to this asset is a business imperative. Data security is a process, and not an end game.