As digital transformation becomes an essential pre-requisite for business success, organizations are quickly embracing an innovation-powered future. Migration to the cloud provides IT and business agility at a reduced cost, big data analytics gives us a deeper understanding of customers and opportunities for new services, and collaboration promotes productivity for remote workforces. Executives embracing digital transformation say they have benefitted from: improved operational efficiency (40%), faster time to market (36%) and the ability to meet customer expectations (35%).
By 2023, digital transformation spending is predicted to rise to over 50% of all IT investment with 2020, the COVID-19 crisis and subsequent lockdown being seen as a tipping point. In April nearly half of US and UK employees were working from home (49% in the US and 47% in the UK) which forced employers to embrace video conferencing, collaboration applications, and accelerate their cloud migration and digital transformation efforts.
These initiatives increased the volume of unstructured data that organizations must securely manage — everything from video and audio files to emails, Word documents and presentations, all which demand enterprise security and data privacy capabilities beyond traditional structured data stores.
During the COVID-19 lockdown, the US FBI have reported a 300% increase in reported cybercrimes. Twenty-two percent of organizations feel that their current digital transformation initiatives are designed as short-term solutions, and subsequent integration of data privacy in the long-term will be challenging. Organizations struggle with identifying where data is kept, prioritizing risk scenarios, and managing data throughout the lifecycle.
A Data Privacy Framework
In order to achieve a balance of innovation and protection, it's essential that data privacy be baked in from the beginning of the digital transformation process through a unified privacy framework, so that your data will be protected regardless to wherever it resides, how it is transmitted or how it is used. However any framework has to be flexible enough to provide the necessary agility to meet customer and employee expectations, all whilst allowing organizations to comply with relevant regulatory frameworks.
And as most enterprises today are hybrid IT and multi-cloud, they require effective, scalable data security solutions to protect massive quantities of sensitive, high value, structured data moving through on-premises and IaaS environments. Micro Focus data protection allows you to manage your structured and unstructured data throughout its lifecycle, to support all your digital transformation initiatives with a framework that promotes cyber resilience. Our efforts are based around 3 pillars:
- Store and Apply Policy - Apply and enforce data and identity-based policies for cost efficiency, and to ensure a quick response to litigation/investigations.
- Secure and Encrypt - Prevent unauthorised access to data and automatically apply data-in-use encryption, data masking, and other data-centric protection technologies.
By adopting a philosophy of privacy by default, and taking a preventative, not remedial stance towards end-to-end security, you can protect data in use, in transit, and at rest.
Read our previous Data Security blog as you consider the wider consequences of a data breach, including fines, lawsuits, loss of customer trust, revenue and reputation and the ways in which you can proactively protect your data and mitigate the risk of breaches.
Strengthen your cyber resilience. Protect across your identities, applications and data. Learn more about cyber resilience.
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