Guide: Australian data protection & privacy

Data has become the central and most fundamental intangible asset of many companies. Management, protection and compliance parameters for this new asset class is a central strategic issue for boards and executives.

Reliance on data without proper appreciation of stakeholder expectations, compliance requirements and cyber security risks, particularly where such data concerns personal information, can equally turn the same data into a liability. Mismanagement of data can have far reaching consequences not limited to loss of revenue, fines, brand damage and personal liability; ultimately putting a business at a competitive disadvantage to those businesses that can get it right. Using data properly is therefore essential to the governance and performance of any business.