By : Mr. Filip Cotfas, Channel Manager, Cososys
Undoubtedly, 2020 has been a game-changer for data management. With the work-from-home model raising privacy issues to new tech adoptions (IoT & AI etc) keeping security in limelight. We do see 2021 as the year of transition for businesses to settle and operate in the new normal.
Taking the cues from this year, 2021 will emerge stronger on data security trends and will have a very dynamic and evolving approach. Businesses will have to adapt and adapt to survive the cybersecurity journey. Here are the trends you can expect in 2021:
One in four CMOs to invest in data privacy:
In the wake of massive data breaches among enterprises and also growing security & privacy concerns, we typically see departments – IT, Legal, HR, etc aligning together to develop in-house data protection strategy. Though marketing, has often ignored the call for tech changes to private information, along with no budget allocation, 2021 will be different. With data-driven campaigns by brands, brand reputation at stake, increased costs to repair the damage along the lost opportunity of client acquisition CMOs will embrace data privacy protection.
Focus on employee privacy will become 100%:
The volume of people working from home has brought unprecedented challenges. At the same time, this has also increased the likelihood of companies getting hacked through the entry gate of poor home networks of the employees and misuse of VPN. We foresee, in the next 6 to 12 months, a regulatory and legal framework to improve workforce analytics and insights, to handle employee data – one that respects and protects employee privacy.
Remote work and endpoint security:
No more risking the employee data or leaving a blind spot. With the drastic change in the business operation, shifting from physical work offices to home offices, the security SOPs of businesses have compromised inviting cyber threats, attacks, and data breaches. The need for endpoint security has never been so significant. With both context and content inspection, Endpoint security shall secure and control any of the devices – laptops, tablets, mobiles, etc. operated remotely. The traditional antivirus shall not be enough, it’s time to guard the entry points to add additional protection, and secure the access points. Data Loss Prevention (DLP) solutions, when applied at the endpoint level can help mitigate the risks of data stored locally, regardless of whether a computer is connected to the internet or not. Through complex scanning tools that inspect data based on both content and context, DLP solutions can identify where data is being stored locally on work devices and encrypt or delete it where it is found. They can also block their transfer over the internet or to removable devices.
Third-party risk assessment becomes vital:
2020, has upskilled the consumers on privacy and security. With consumers being more vigilant on privacy protection, businesses need to consider their third party ties up and partners. We see consumers critical of companies giving third party access to personal data. With that, companies will have to establish a uniform approach to vetting third-party risk management. Assessing risk from vendors and other third parties is key to business success. As any kind of third-party breaches will show the business not holding to its security standards.
Customers to demand transparency:
Consumers have become more aware of online security. The government banning Tik Tok and several other apps has made people cautious about consumer data privacy. In 2021, consumers would trust businesses, that are transparent about how they use consumer data and are likely to be successful. Any data leakage, loss, or theft will lead to loss of business. Data privacy as a subject is no longer in the interest of businesses or authorities; it now has growing support and focuses from consumers too.
The year 2020 with several noteworthy events has set higher standards for data privacy 2021. In online security, Data Management, which never got its due importance, will be the focal point for the next year.
