From collecting and managing data effectively and in accordance
with the law, to using data to market your products and services,
to protecting that data in the event of security breaches and cyber
hacks, a robust and responsible approach to data management is as
important now as it has ever been.
In fact, a strong commitment to best practice when it comes to
data management can have a significantly positive impact on the
reputation of firms as well as its operation – or indeed the
opposite, if the approach to data management is found to be
lacking, irresponsible or unethical.
Just this month, for instance, Google was handed a $57m fine by the French authorities for
violating GDPR rules, but the cost of breaking rules or failing to
implement sufficiently strong cyber defences can go far beyond a
fine alone. A YouGov poll, for instance, has found that almost 80% of customers would take their business
elsewhere if a company failed to stop a security breach.
