Dispelling Data Privacy Myths: The Facts
We all know that data privacy is a crucial concern that demands attention, regardless of the scale of your organization. Unfortunately, there are data privacy myths that have some professionals feeling confident despite the possibility that their business or organization could be falling short in compliance and security.
Facebook, Amazon, and Google — most of us use their services every day. We provide these huge, online companies with data about ourselves of all kinds including our likes, dislikes, habits, routines, purchases… even our speech patterns! In exchange, we get access to their services for free.
It's obvious that data privacy is a huge topic of discussion these days with multiple controversial aspects. Although the internet, in general, is straining with information covering this topic, a lot of it might not be reliable enough. That’s why we need to debunk data privacy myths and get to the facts — once and for all.
8 Common Data Privacy Myths
Myth #1: Data Privacy Only Concerns Personal Information
False. What's really important to note down here is the fact that data privacy affects numerous types of data. Aside from personal information, there are also other kinds of data an organization needs to be protected and secured — like demographic data, customer details, employee data, financial information, or business info. No organization is exempt from taking the necessary steps to guarantee that all their data are protected, whether you're a big corporation or a small business.
What can you do? Establish and maintain secure security policies, limit access to sensitive data, deploy two-factor authentication for user login, do regular security audits and backups… the list goes on.
Myth #2: Encryption is the Only Solution
False again. Although encryption plays a major role in data privacy, it's just one of many tools available to keep your data secure. From restricting access to sensitive data, utilizing two-factor authentication solutions (2FA), introducing a system of governance policies, backing up your data regularly, or conducting security audits — there are multiple ways to ensure data privacy!
What can you do? Implementing encryption should be part of your security strategy, but it shouldn't stand alone. Try to cover all fronts with the right tools and techniques for the job.
Myth #3: Data Privacy is Only a Concern for Big Companies
Wrong. Do you operate a small- or medium-sized business? Do you think data privacy policies don't matter to you? By ignoring compliance regulations, a company of any size can potentially suffer the consequences. We're talking hefty fines or losing customer trust. Data breaches might have never happened to you, yet it's important to stay on guard, because they could happen anytime to virtually any organization.
What can you do? Take the necessary steps to comply with data privacy regulations, and invest in a secure and cost-effective solution for your business.
Myth #4: The IT Department is Solely Responsible
Another data privacy myth is that the IT department bears all responsibility for proper implementation. Although the IT department is likely the one to establish privacy policies and carry out security measures, data privacy is everyone's responsibility. All employees should follow the protocols that ensure all data is shared and accessed responsibly. It's crucial for management to provide the needed training for employees in order for them to understand these protocols on an ongoing basis, especially as laws, policies, and best practices change.
What can you do? Make sure your employees are properly trained in how to adhere to data privacy protocols, and don't forget to give recognition for the work they have put into it.
Myth #5: Data Privacy Regulations are Only Enforced in Certain Countries
GDPR, CCPA, CalOPPA, and PIPEDA — these are compliance regulations that come in handy when it's time to protect private information. Whether you're a multinational company or a small local business, you need to be familiar with these regulations. Businesses must know their obligations when it comes to data privacy, and they should be ceratin they’re implementing security measures that ensure they’re never violated.
What can you do? Learn more about the data security regulations in your local area and across any territories for which you may be collecting data.
Myth #6: It’s Too Expensive to Implement
Keep in mind that the cost of skimping on data protection may be much higher than the cost of implementing data privacy measures. It's important for businesses to invest in encryption, two-factor authentication, access control, and other security tools.
What can you do? There are a lot of cost-efficient solutions available to companies of all shapes and sizes. Research your options, and secure the best security system for your business.
Myth #7: Data Protection Trumps Data Privacy
False again! Believe it or not, customers really care about their privacy and how their data is being handled by the companies they interact with. The International Association of Privacy Professionals released its first Privacy and Consumer Trust Report in March 2023, which showed that 68% of global consumers expressed some or a lot of concern about their online privacy. There were 4,750 individuals surveyed from 19 different countries.
If consumers don’t trust how a company is handling their data, there’s a could change they will quickly switch providers. Therefore, companies should strive to understand their customers' privacy requirements and customize them accordingly. This will ensure businesses can build long-lasting customer relationships.
What can you do? Identify and appreciate the importance of data privacy, and build teams of business representatives dedicated to making sure these requirements are met. By ensuring you’re offering your customers the upmost level of consumer data, you’re ensuring that even your most concerned customer will be satisfied with your data privacy policies and methods.
Myth #8: Data Privacy Just Involves a Notice
This is another myth that many believe is true: A simple notification to your consumer is enough to collect their data and move on. However, it goes way beyond that. Data privacy involves setting up and following a secure and comprehensive data management system across the entire business. This allows people to collaborate on all aspects of data privacy by making sure customer experiences are both consistent and secure.
What can you do? Start by ingraining data privacy into the customer journey, from marketing up until retention and not forgetting places that may interact with customers like retail outlets, websites, or any other type of mobile applications.
A Commitment to Safety Debunks Data Privacy Myths
Data privacy is an important matter that requires action — no matter the size of your company. Establish data security policies, create teams dedicated to data privacy, and make sure everyone understands how it works! Invest in reliable and cost-effective solutions for your business; make sure to cover all the fronts when it comes to data protection.
It's time to stop living in the myths of data privacy. Learn how you can ensure all your data remains safe and sound with DrivenIQ’s cutting-edge solutions.
