The Importance of Customer Data Protection
by Arnab Dey Business Security Systems Published on: 09 April 2022 Last Updated on: 22 December 2022
Data is the most valuable asset to your company. Most customers know this fact. So, if customers can trust you enough to share their personal information with you, it is imperative to secure it.
The data breach statistics by Identity Force showed that many companies have suffered from data breaches. Examples are LinkedIn, California Pizza Kitchen, Ubiquiti Inc., etc.
LinkedIn lost the personal information of 500 million users to the dark web. To avoid the repetition of this sad history, your company must see data protection as a big deal.
This article will explain how you can protect your customers’ data and its importance.
How to Protect Customer Data
Customer data protection is not rocket science. So, it’s not an activity that will take years to fathom or execute. In simple terms, we shall analyze how you can protect the data of your customers from cyber harm. You can also check for leaked data through a reliable dark web monitoring tool for additional safety.
1. Collect Minimal Data
Gathering loads of data will do your business a lot of harm. Collect only data that are relevant to the purpose you have in mind. For instance, if your goal is to get people to register for an event, you do not need to request their credit card numbers, ZIP codes, etc.
If cybercriminals realize that there are not much data to steal, they might not go on with attacking your company. Requiring excess data could make customers doubt your trustworthiness, which is unhealthy for your business.
Related Resource: 5 Ways To Improve The Security Of Your Company’s Databases
2. Shun Data Silos
Rule out storing customers’ personal information in data silos. In organizations with different departments, data silos can exist. These silos often exist because departments prefer to operate independently, and their goals differ.
However, data silos should not exist if your company does not own a data management system. Without a data management system, there would be issues of inconsistent, duplicate data, less collaboration, incomplete data, and non-compliance to data privacy laws.
3. Restrict Data Access
Cut down the number of employees who have access to your company’s customer data. The more access to data and data protection tools, the higher the tendency for vulnerabilities and attacks.
Assign specific people to collect data, store it, and transfer it. Remember to restrict access to data protection tools. As a business owner, you must also know the number of devices your employees can access.
4. Password Management
Put money into tools for password management. These tools will save your database from exposure to theft, and protect and encrypt data. It will be impossible for a hacker to steal your customers’ data through the password management tool because of the encryption.
Password management tools make shared logins secure. It does it in a way that an employee logs in but have no idea of the login details. Therefore, if such an employee leaves your business, it would be impossible to log in and access data because you can lock them out.
The Importance of Customer Data Protection:
We all seek protection. No right-thinking human wants harm near them. Customers also have this thinking pattern. Therefore, you should protect your customers’ data for several reasons. Check them below.
1. It’s Proper
Data is a treasure. So, with the way cybercrime multiplies, companies should know that it is right to protect customers’ data. Aside from obeying the privacy law, it would help if you understood that it is your responsibility to keep your customers’ data safe because they trust you with it.
2. Business Continuity
Cyberattacks can put a company out of business. The same goes for the consequences of non-adherence. Therefore, to continue operation, your business must do all that is required to secure customers’ data.
3. Securing Trust
An impenetrable data security system will make customers trust you with their data. For instance, if a customer is on your website to make a purchase and finds that it is not secure, they will not continue.
Such a customer will not enter their personal information because they do not trust you. When your business has no history of a data breach, then customers can also trust it. Consequently, it will give your brand a good reputation and a positive image.
When you protect your customers’ data, you indirectly preserve your organization. Customer data protection makes customers trust your brand, and this generates other benefits.
Whether you already have data protection measures in place, it is also beneficial to beef up your security. To learn more about data protection and request help for customer privacy, reach out to us at Zendata.
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