Four Data Security Challenges Set to Impact Organisations in the Coming Years

Data is the most durable, limitless commodity driving future economies and offering fresh insights for prosperity and betterment. Yet, a data-rich world introduces multiple security risks for organizations, industries, and society. Here are four security challenges likely to impact organizations in the coming years.

1. Rapid Tightening of Regulations Raises the Stakes for Non-Compliance

As fears and pressures relating to data privacy mount, governments worldwide will introduce much tougher sanctions regulating the use of data. This rapid tightening of national and international trade rules catches many organizations off-guard, leading to hefty fines and legal fees. Organizations that do not establish clear roles, responsibilities and processes for continuous monitoring and assessment of the regulatory landscape will often find themselves exposed to increased security risk with the possibility of substantial regulatory backlash.

2. ‘Shadow Data’ Becomes the New Smoking Gun

While organizations continue to grow their data sprawl and embrace so-called datafication, a new security risk relating to data hidden outside corporate IT governance emerges: shadow data. Negligent organizations unaware of the risks and legal ramifications struggle to distinguish worthy data from noisy data. They continue to pile on shadow data, silo after silo, and eventually this bubble explodes, leading to compliance failures, regulatory reprimands and reputational damage