Businesses and technology are constantly evolving. The global shift towards more digital businesses is happening in all industries. This shift has its roots in a data-driven transformation with ramifications at every level of the organization and the technology stack used to managed data. Let’s look at it from a “micro to macro” perspective and further our focus on driving value around the use and proliferation of data.
We all have data, personal, business, personal to personal, personal to business, and business to business. Data flows constantly from consumers to businesses, machine and censors to personal, machine to business, etc. The positive impacts on the global GDP can be significant. Since 2005, McKinsey estimates that there has been a 45 fold increase and subsequent impact on the global GDP of these types of data flows.
This is the flip, and it requires a shift in paradigm around how we use these data flows, who uses the data flows, to what purpose, and how do we secure these data flows. There are numerous private and public platforms available that cater to monetizing data and promoting the increase of data flows. Surprisingly, countries like singapore and Ireland are outpacing giants like the US and germany in their effort to promote the globalization of data flows.
We need to rethink our policies for data use and consumption, starting at the micro level and moving to the macro level. The cross-border digital economies are exploding and outpacing the controls of the past. The impact of cybercrime on the global economy is estimated at $400 Billion. As companies, large and small, harness data flows in ways that expand businesses, the need for business-relevant policies that enforce the compliance and security locally, nationally and internationally is going to be essential.
Moving forward, CEOs have to maintain data security as a top priority, equal to and part of any strategy to leverage digital technologies, to gain efficiencies, or move a brand globally, across the open, and new, markets of today and tomorrow. Having a flexible platform that enforces security and compliance policies at the data layer, following the data, is a must, in order to bring a data security strategy to a level where it is second nature to a business strategy.
If you’re interested in learning more about how to apply a data-centric security strategy that accounts for data sovereignty and international Privacy regulations, take a look at BlueTalon data-centric solutions. We not only allow you to apply consistent security controls, at the data layer, to any data stores and application in use, but we also bridge the gap between the technical nature of security controls and the business.