As privacy regulations advance, business practices are reshaping. The current dynamic will lead to changes, such as making on-premises applications invaluable and reducing complacency around the current approach to data privacy.
By on-premises applications, this means taking steps to keep sensitive data within geographical boundaries and to facilitate better control of business data. Processes like on-premises applications provide increased safety and regulatory benefits.
In addition, given the increased volume of corporate data and the rising costs of cloud storage, many organizations are looking at on-premises applications as a cost-effective approach to data management.
In relation to privacy issues, Stijn Christiaens, Founder and Chief Data Citizen, Collibra, tells Digital Journal that emerging from the coronavirus pandemic should now allow businesses to refocus on data privacy matters.
Christiaens comments: “Over the last two years we’ve had plenty of distractions, but the time is now to prioritize data privacy. Data has the power to help us make the right decisions, to grow, and to drive innovation. But great power comes with great responsibility: we need to make sure that the data we use is trusted, and that it is used in the right ways.”
Before embarking on such reforms, Christiaens notes, companies need to pay attention to the legislative developments. He says: “As new legislative requirements emerge; businesses must look at compliance proactively instead of reactively to avoid reinventing the wheel each time.”
This means doing things right. Unfortunately, Christiaens says: “The data privacy discussion is often focused on checkboxes – just a tedious exercise to get to the “real” work. Within organizations, privacy processes are increasingly siloed between different teams that have a fragmented view of the real responsibility.”
Hence, “It’s time for a shift, especially as consumers increasingly hold companies accountable for mishandling their privacy”, notes Christiaens.
As to what is to be done, the expert recommends: “We need to reframe the conversation around data privacy to be less complacent and more proactive, and we need to move faster to bring as many people as possible to the table to have a real impact.”
Christiaens’ final recommendation is: “Invest in building sustainable processes now to be ahead of the market and the competition.”