Data privacy, also known as information privacy, is a subset of data protection that deals with the proper handling of sensitive data, such as personal data but also other confidential data like financial data and intellectual property data, in order to comply with regulatory requirements while maintaining the data’s confidentiality and immutability. When it comes to protecting data from external and internal dangers, as well as defining what digitally stored data may be shared and with whom, security becomes crucial. In practise, data privacy refers to components of the data sharing process, including how and where that data is maintained, as well as the particular rules that apply to those procedures.
Digital data that is subject to the laws of the country in which it is stored is referred to as data sovereignty.
Many nations have enacted new legislation requiring data to be retained inside the country in which the client resides, in response to the growing use of cloud data services and a perceived lack of security. Governments are currently concerned about data sovereignty because they want to prevent data from being stored outside of the original country’s borders. It might be difficult to ensure that data is exclusively stored in the host nation, and it frequently relies on the details supplied in the Service Level Agreement with the Cloud Service Provider.
Data Privacy Importance
- Business Asset Management: Data is, without a doubt, a company’s most valuable asset. We live in a data economy, where businesses place a high value on gathering, sharing, and analysing data on their customers and users, particularly from social media. Transparency in how companies obtain consent to preserve personal data, adhere to their privacy rules, and handle the data they gather is critical to establishing confidence with consumers who regard privacy as a basic human right.
- Regulatory Compliance: Data management for regulatory compliance is arguably much more critical. Noncompliance with regulatory obligations on how a company collects, stores, and processes personal data might result in hefty penalties. If the company is hacked or ransomware is used, the implications in terms of lost income and consumer confidence may be considerably greater.
Elements of Data Privacy
Data privacy, often known as information privacy, is made up of three components:
- Individuals have the right to privacy and control over their personal data.
- Procedures for managing, processing, collecting, and exchanging personal data in an appropriate manner
- Data protection rules are followed.
Technologies and Practices for Data Protection that Can Assist You in Protecting User Data
There are numerous storage and management choices to select from when it comes to securing your data. You may use solutions to control access, monitor activities, and respond to threats. Some of the most widely utilised practises and technologies are as follows:
- Data loss prevention (DLP) is a set of techniques and technologies for preventing data from being stolen, lost, or destroyed by accident. Several techniques to defend against and recover from data loss are frequently included in data loss prevention systems.
- Storage with built-in data protection—modern storage technology has disc clustering and redundancy as standard features. Cloudian’s Hyperstore, for example, offers up to 14 nines of durability, low cost storage of huge amounts of data, and quick access for low RTO/RPO.
- Firewalls are tools for monitoring and filtering network traffic. Firewalls can be used to guarantee that only authorised users can access or transmit data.
- Authentication and authorization—controls that aid in the verification of credentials and the proper application of user privileges. These restrictions are generally used in conjunction with role-based access controls as part of an identity and access management (IAM) system (RBAC).
- Encryption modifies data content using a method that can only be undone with the correct encryption key. Even if your data is taken, encryption protects it against unwanted access by rendering it unreadable.
- Endpoint protection safeguards your network’s entry points, such as ports, routers, and connected devices. Endpoint security software generally allows you to monitor and filter traffic at the network perimeter as needed.
- Data erasure reduces responsibility by removing information that is no longer required. This can be done after the data has been processed and evaluated, or it can be done on a regular basis when the data is no longer useful. Many compliance laws, such as GDPR, demand the deletion of unneeded data.