Companies must ensure that their customers and employees can trust them with their data. Indeed, for some businesses, concerns over online security have reduced in recent years. Instead, they are placing more focus on data privacy measures. But as technology becomes more integrated, will this attention lead to better data security overall?
Data Privacy & Data Security: The Differences
Firstly, to understand what the shift towards prioritising data privacy means, it’s important to establish the following:
What is Data Privacy?
Data privacy is the management of personal data, as well as how it is collected, stored, used and shared. Regulations on how this is carried out can vary from country to country, but tighter regulations are quickly becoming the norm to Improve Cyber Security and safeguard private information.
What is Data Security?
Data security, meanwhile, is defined as the measures taken to protect private information. It’s more concerned about solutions and techniques that are utilised to shield data from internal and external cyber attacks. These measures should be a cornerstone of any business’ online security system.
The Key Differences
Whilst the two terms are frequently used interchangeably, even by companies that are focused on data privacy, they are not the same. Indeed, the two main differences are:
Data security covers the measures taken to protect information, whilst data privacy concerns how that information is used
Data security requires proactive implementation of safeguards and protocols from a business, whilst data privacy is about adhering to pre-set regulations and requirements
How do companies view Data Privacy?
A recent study by Wi-SUN Alliance has found that across industries, companies are more concerned about data privacy. This is especially true for those businesses that have adopted so-called Internet or Things (IoT) technology. About 36% of these companies placed data privacy regulation in their top three concerns for 2022. Security, on the other hand, has dropped from being in 58% of companies’ top three concerns to 24% over the past 5 years.
However, whilst it’s clear that the two areas are separate concerns, the impact of faltering on either one can be the same. Weak data security can lead to the exposure of information that puts people and their finances at risk. Poor adherence to data privacy can also result in the exploitation of personal information. Ultimately, a lack of focus on either results in lost trust from consumers, so both must be prioritised.
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