Protection of data is crucial in establishing trust with consumers as the world of information is becoming more interconnected. Consumers expect their businesses to protect and safeguard their personal data and those who excel at this have a competitive advantage over those who don’t. This article outlines 10 essential concepts that businesses must know and implement to ensure the security of customer data.

Personal information is the most basic kind of customer data. It includes any information that www.dataroommanage.blog/the-five-best-examples-of-horizontal-integration/ could be used to identify an individual. This includes names, addresses and phone numbers. But, there are more sensitive kinds of information that can lead to serious consequences if they fall into the wrong hands, such as a Social Security number or credit card number. Sensitive personal information (SPI) also includes ethnic or racial background sexual orientation, as well as many more.

SPI is a tool for identity theft. This poses a significant risk to the personal and financial well-being of customers. Hackers may use this information to get credit or loans in the victim’s own name. This can cause devastating consequences.

To lower the risk that data breaches can occur, companies should restrict how much SPI they collect, and only use it for legitimate purposes. They should also utilize encryption on their servers and when they transfer data to ensure that the data cannot be accessible to hackers. They should also have two-factor authentication and tools for managing passwords to minimize the risk of data breaches triggered by compromised passwords.