Data production, collection, usage, and storage are part of daily life for consumers and organizations engaged in the modern digital environment.
All stakeholders involved in this cycle share a similar goal: keep data, and particularly personal data, private and secure. “Data privacy” is not only a meritorious goal but also a legal requirement as many countries and states enact data protection laws. As federal, state, and international government promulgates sweeping privacy legislation, security teams must coordinate the technical deployment of internal policies and procedures to protect data. Failing to protect data can result in incredible remediation costs, loss of customer goodwill, regulatory scrutiny and fines, and, in some cases, even put an organization’s viability in jeopardy.
The impact of data breaches is further evolving as new legislation allows for additional remedies, such as the private cause of action for affected consumers. Most organizations realize the importance of data privacy. The challenges, however, come when developing answers to the question, “How do we get there?”
A robust cybersecurity program is a critical part of this solution. Indeed, many countries, states, and industries have specific information security program requirements, and failure to comply can result in an assortment of fines and penalties. However, an organization’s cybersecurity program is only as strong as the individuals who implement, deploy, monitor, and enforce it. The demand for cybersecurity professionals in the workforce cannot be understated.
Businesses, consulting firms, and government agencies alike are engaged in constant competition to recruit and retain cybersecurity talent. As threats grow and become more persistent and complex, prospective employees who can become experts in security, threat detection, and incident response will remain in high demand.
Top Five Emerging Organizational Risks:
• Accelerating privacy regulation
• Pace of change
• Talent shortage
• Lagging digitization
• Digitization misconceptions
