Organizations are now adopting advanced technology at an exponential pace and this has enabled them to leverage personal data to deliver more customized services. Most of these technologies extensively use data to deliver multiple services. The extensive use of data to drive business has increased the economic value of personal information. This results in every instance of a data breach turning into a very stressful, expensive, and time-consuming affair. It can result in loss of customers, stakeholder confidence, shareholder value, and also brand equity. Apart from losses suffered in business, organizations are also subjected to paying heavy fines. This presents organizations with the challenge of coining strategies that derive value from the wealth of personal information at their disposal while protecting personal information from malicious attacks.
Organizations are now adopting advanced technology at an exponential pace and this has enabled them to leverage personal data to deliver more customized services. Most of these technologies extensively use data to deliver multiple services. The extensive use of data to drive business has increased the economic value of personal information. This results in every instance of a data breach turning into a very stressful, expensive, and time-consuming affair. It can result in loss of customers, stakeholder confidence, shareholder value, and also brand equity. Apart from losses suffered in business, organizations are also subjected to paying heavy fines. This presents organizations with the challenge of coining strategies that derive value from the wealth of personal information at their disposal while protecting personal information from malicious attacks.