How Big is the Data Privacy issue?

First and foremost, we all should make up our minds and digest the fact that “Data is the new Crude Oil“.

Organizations commonly believe that keeping sensitive data secure from hackers means they’re automatically compliant with data privacy regulations. This is not the case.

Data Security and data privacy are often used interchangeably, but there are distinct differences:

• Data Security protects data from compromise by external attackers and malicious insiders.
• Data Privacy governs how data is collected, shared, and used.

Consider a scenario where you’ve gone to great lengths to secure personally identifiable information (PII). The data is encrypted, access is restricted, and multiple overlapping monitoring systems are in place. However, if that PII was collected without proper consent, you could be violating a data privacy regulation even though the data is secure.

Let’s see what people think about their online privacy.

Data is one of the most important assets a company has. With the rise of the data economy, companies find enormous value in collecting, sharing, and using data. Companies such as Google, Facebook, and Amazon have all built empires atop the data economy.

Many companies have learned the importance of privacy the hard way, through highly publicized privacy fails.

Now, several times a doubt arises that who is at the end responsible for Data Privacy?

But, how challenging will it be for companies to convince the customer to enter there personal information like email-id, contact number, etc.

So, what amount of customers will rely upon and move ahead?

Well, I expect that helped you all to make the picture between Data Privacy & Data Security more clear and also give you a glimpse of how important is data privacy for you.