Personal data is any information that is related to a particular person. They may come in the form of a name, an identification number, or a location. It may also be specific factors such as the the physical, physiological, genetic, mental, economic, cultural, or social identity of that person.
Any data that business stores digitally must be secured properly. From personal information to financial details, personal data protection is critical to prevent information from being misused by third parties for phishing scams and identity theft.
If you are an organization that stores personal data, you must make sure that the information you have is always kept secure. You must reduce the amount of data you store, collect only as much data as necessary, and keep your data for only if it meets its purpose. The personal data that you collect should also be encrypted or must be replaced with a pseudonym to protect any identifying information.
Why is Personal Data Protection So Important?
1: Meet Compliance Requirements
With different regulatory boards imposing rules on electronic communications and stored data, the need for personal data protection is being highlighted nowadays. Businesses who fail to practice compliance may suffer consequences. It is critical for companies to review their data processes and ensure that they are compliant with regulations. All companies must meet the rights of individuals that are specific to each company.
2: Prevents Financial Loss
Personal data protection is important to save your company from experiencing financial troubles, specifically revenue loss. As data is a corporate asset that has to be secured, protecting it is critical to your business. Loss of data may require you to pay fines and may affect your sales as well. Moreover, customers will lose confidence in you so they’ll likely do business with other organizations. Lack of personal data protection could have negative implications for your business.
3: Improved Productivity
Loss of critical data may diminish the productivity of your employees since they have to manage time-consuming problems without databases. As such, personal data protection is important to enhance your organization’s productivity. By protecting data, it can prevent data loss and application failures from occurring, making it easy for employees to finish their tasks on time.
With an excellent data protection strategy, people will not have to wait for long periods while systems are being fixed after a failure. This prevents idle time, so employees may work as expected and finish their tasks promptly.
4: Maintain and improve brand value
Organizations that experience privacy breach may suffer a damaged reputation. By being transparent and by following practices that show personal data protection, you can build emotional connections to your customers, which can help improve your brand value.
5: Avoid Conflicts
Organizations who want to maintain a good status follow ethical practices. These ethics policies state that confidential information will be handled responsibly, and will not be used in any activities that may result to harm.
While there is no clear rule against the use of personal data, it will be beneficial for your company if you follow business ethics such as data protection. This way, you will maintain a harmonious relationship with your customers and you could avoid conflicts as well.
Personal data pertains to any information that identifies a person directly or indirectly. Businesses or organizations that store personal data must ensure that all the information they have is always kept secure. This is necessary to prevent personal information from being used in any illegal activities. Personal data protection must be followed by companies to meet compliance requirements, prevent financial loss, improve productivity, and enhance brand value.
Based in Maryland, Swift Systems is a full-service Information Technology company. We have an experienced team of IT specialists that provides clients with high quality managed IT services at a fixed monthly cost. We put into place a strict data protection strategy to ensure that we gather, store and handle data fairly, transparently, and with respect towards individual rights.
For reliable IT managed services, Swift Systems are the only call you need to make. We can give you the greatest assurance that your systems will be running smoothly. Contact us today to discuss your requirements!
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