Data is power, and for a rapidly growing number of companies, it’s also key to their financial bottom line.
Yet, as Business Report details in a new feature, while corporations are getting increasingly aggressive, and creative, in the quest for marketable data, the public—and in some cases, the government—is demanding stricter standards be implemented to protect the trove of information that’s now being stored in back offices and on the cloud.
Coinciding with the increased gathering, storing and profiting off of personal and corporate information is the rise of data breaches and cyber attacks. Last year, hacks on big-name retailers last year like Macy’s, Sears and Adidas caught everyone’s attention, and the ramifications are still shaking out from the Facebook-Cambridge Analytica fiasco.
Floating onto the scene is cloud security, dubbed by Bloomberg to be the fastest-growing segment of the security market. The cloud will begin to replace appliance-based and on-premise security measures as businesses try to keep vulnerable data out of reach of hackers.