Data privacy is central to most conversations in the business environment, and in a time when ransomware and hacks of all kinds are constantly receiving media presence, it’s no surprise that it is sensationalized to a certain extent. That said, it’s critical for businesses to understand what needs to be done to future-proof their data privacy infrastructures.
A key component of this is privacy engineering. Let’s take a look at what privacy engineering is and what it means for the future of data privacy.
According to the International Association for Privacy Professionals, or IAPP, privacy engineering is “the technical side of the privacy profession.” For some organizations, this means that it is making the processes involved in product design take privacy into account. For others, it might mean taking a look at what technical knowledge might be needed to implement privacy into the products. Ultimately, however, the general consensus seems to be that privacy engineering is taking privacy into consideration during each stage of product development, from conception to deployment.
This is particularly notable because systems and products that integrate privacy into each stage of the development process will, more likely than not, be more consumer-friendly. Users can know with confidence that their privacy is taken seriously through each stage of the process, something that could contribute to better sales and profits for organizations buying into this mindset.
All of this combines to create the perfect opportunity for businesses to increase their bottom line. This level of success then contributes to the value of the company increasing, leading to more investors and the production of similar goods and services. Furthermore, investing in organizations that prioritize security and privacy is generally a safe move on the part of shareholders, as these organizations are more likely than not to meet specific regulations and high-security standards both now and in the future.
Ultimately, the concept of privacy engineering is beneficial to both the consumer and the producer, so focusing on technology that takes all of this into consideration is a safe bet for your own company’s future.
In 2020, Gartner made some predictions about the future of data privacy and where the industry was heading in the years to come. Here are some of the key insights from their report:
NetMGM can help your organization get started with implementing great data privacy tools that will keep you compliant with security standards. To learn more, reach out to us at 888-748-2525.