2 minute read
We live in a data-driven world. The data you collect, store, and use will shape your organizational strategy and provide new insights on how to best meet your customers’ needs. However, with great power comes great responsibility. Beyond the financial and legal risks, customers are demanding that the organizations they deal with handle their data ethically and that they do everything in their power to keep their sensitive data secure.
In this infographic we share four basic things you can do to handle data safely and effectively and create a culture of security across your organization.
The organizations that excel in this area can create a competitive advantage by building trust and demonstrating that they are doing what is best for their customers. By making security the norm in your organization, you can get the most out of your data while ensuring customer information is protected.
Big data is a company asset and 95% of C-level executives see data as integral to forming their business strategy. And like any asset, you need to protect your data from loss or theft, especially when you have personal or sensitive information that could identify your customers. Data privacy matters.
The stakes are high. IBM found that the global average cost of a data breach was $3.86 million in 2020, and the potential for lost revenue and reputational damage can be difficult, and sometimes impossible, to overcome.
Beyond the financial risks, however, you have a moral obligation to protect your customers. The ethical and responsible use of data needs to be taken seriously, especially as customers turn over more and more information in exchange for your products or services.
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