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  • Writer's pictureMarketing Intelliway

Investment in Data Security: The Role of GDPR for Corporations

At the same time that there has been a great advance in technology in recent years, the need to invest in data protection systems has also grown.

This is because the amount of data collected daily is very large, and is growing more and more. In fact, some companies collect data all the time. And since this data includes basic information such as name and age, but also more sensitive data, it is necessary to protect it.

For example, it is possible for a company to have data such as ID numbers, address, telephone number and even bank details of a customer. Therefore, it is the responsibility of companies to keep this data secure in an automated system. In addition, a system capable of fighting possible attackers on accounts and databases.

Data protection became even more important after the General Data Protection Regulation (GDPR) was created. Keep reading to better understand investments in data protection and the role of GDPR in this scenario.

The growing importance of data security for corporations

In the past, many companies stored customer information in notebooks or offline systems. However, as time went by and technology developed, this started to happen in online systems.

This change made it much easier for companies to control customers and their information. In addition, with process automation and Artificial Intelligence, it is possible to make reports and analyzes that were not humanly possible before. This is because this type of activity requires a quick analysis of a lot of data and information at once.

While there are many advantages for corporations, all of this has a downside as well. In this sense, companies increasingly need to invest in data protection solutions.

Data protection: a necessity

Collecting data is important for any business, and it happens all the time. In certain situations, sharing of sensitive data such as address and bank details takes place.

At these times, the customer needs to feel safe sharing such data with the company. After all, nobody wants to have their personal information available to unauthorized people.

Thus, having the support of a company with knowledge and experience in the development of data protection systems is necessary.

Risks and consequences of data breaches and security incidents

For a company to be reliable and have a good reputation, several strategies can be used. In fact, reputation is related to how external people see the business.

Taking this into consideration, it is necessary for all companies to have data protection systems in place.

Thus, they manage to reduce the chances of a data leak and its consequences. And with that, people's reputation and trust in the corporation remains positive.

Risks and consequences

A data breach happens when there is no data protection system active. This type of action is considered a crime, and as it happens over the internet it is called cybercrime.

When a company suffers an attack like this, personal information of customers, employees and others is accessed by criminals and unauthorized people. As a consequence, those who had their data shared can suffer serious financial and moral damages.

In addition, people's private and professional videos, photos and conversations can also be leaked.

As a result, the company that has not invested in data protection ends up having to deal with complaints and even legal actions caused by data leakage.

Finally, another common consequence is that criminals make attempted scams. These are attacks on people as well as entire companies. The most common ways to receive scam attempts after having personal data leaked are email, cell phone and even social networks.

Building trust and confidence

In order to build trust and confidence with customers and even employees, there are some important points to consider.

1. People are tired of feeling watched

People are increasingly aware of the fact that they are being watched and even controlled by companies. Therefore, ensuring people's privacy is indispensable today.

In this way, customers, for example, feel more comfortable when sharing their personal information in registrations and when making an online purchase.

In addition to trust, people feel freer to choose their products and services. And also share their good experiences with companies.

All this, of course, brings positive results for the business and consequently more and more customers come back to do their shopping.

2. Customers like to know company rules

Many consumers today know that their data is being collected and stored by companies. However, they often do not understand how this process happens.

It is in this sense that explaining the company's rules for privacy and data protection makes the difference. When someone knows the rules behind something, that person feels in control. And this happens with personal data, which is so important to each of us.

So leaving control of the data in the hands of the people themselves makes the company's confidence increase.

In this scenario, companies have access to customer data, but it still belongs to each individual.

3. Transparency is highly valued

When a company has clear data protection policies, it is very easy to see that the company is transparent.

Customers like to have this perception, and the simpler it is for corporate communication, the better.

In this way, by making it clear what the company is going to do with the customers' personal data, trust grows a lot. Consequently, it's even easier to capture data from people who aren't even customers yet.

Maintenance and updating of data security processes after the implementation of GDPR

With the emergence of GDPR (General Data Protection Regulation) data security became more structured. By putting the principles of the law into practice, it is possible to better control personal data and have access to them in an organized way.

In order to adapt the company to this new reality, it is necessary to make a series of changes and investments. And then, after everything is implemented, the work of maintenance and updating begins.

These final steps are important because the world is constantly changing. There are more and more scams and new ways to invade company systems. Thus, its protocols and ways of ensuring data protection need to be updated.

Promoting a culture of information security among employees

Employees of a company are very important to maintain information security and data security. This is because it is these people who have access to the systems, and who use the data for analysis or protection.

Therefore, creating a corporate data security culture is essential. This can happen through special events. It may also be interesting to carry out in-company training on the subject.

And at all times, make it clear that it is unethical to share any personal information about a customer or even a co-worker. Knowing these guidelines and the company's processes, employees will have greater adherence to this culture.

That way, everyone benefits. Customers trust the corporation as a whole, which includes employees. People who are working understand the importance of what they do and contribute to a better reputation.

And, without a doubt, the value of the company increases, the number of sales rises and the income grows.

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