Increased breaches and growing threats have put data protection at the top of the list of IT leaders’ issues list. Governments around the world are joining the fray by mandating data security safeguards for businesses. One of the most prominent is the E.U. General Data Protection Regulation (GDPR) which is set to take affect for the 28 E.U. member countries in May of 2018.
The GDPR will certainly drive implementation of tighter controls surrounding data security, but compliance with government regulations is not the only reason organizations are stepping up data security. Business leaders are beginning to recognize that not only is protecting customer data good policy, when handled effectively, it can also be a competitive advantage.
According to a report from McAfee developed from a survey of 800 senior business professionals across eight countries, nearly three out of four respondents can quantify the value of security to their business and are using data protection to attract new customers.
Here are four ways enhanced data protection can be a competitive advantage.
Increased client trust
With news of another breach breaking nearly every week, people are increasingly worried about the security of their data. Being able to demonstrate how your organization is taking extra precautions to protect their data could end up being a differentiator when it comes to buying decisions.
Improved data analytics
More companies are now using Big Data to evaluate their businesses and make decisions involving product development, customer service, and organizational efficiency. With clean, secure data, you can be confident that the results coming from your analysis efforts are accurate and can be relied on when making key decisions.
Enhancing the business culture
The McAfee report points out that an ancillary benefit of effectively securing your data is helping to establish an ethical approach to business. This perception can be important when it comes to not only attracting new customers, but in finding and acquiring talent that can help your business thrive. The millennial generation in particular is more interested in working for companies that feature those types of values.
Tightened IP Security
Most businesses operate today in fiercely competitive environments. A properly secured data environment protects not only customer data but valuable intellectual property information as well. Keeping proprietary data from falling into the wrong hands can help ensure that you stay ahead of the competition.
As a McAfee Partner, DG Technology has deep expertise in architecting, implementing, and supporting integrated security solutions leveraging the McAfee product portfolio. To learn more about how DG Technology and McAfee can help you secure your data and provide you with a competitive advantage, check out our Enterprise Security Solutions.
