It’s been an eventful year since the EU’s General Data Protection Regulation, or GDPR, became enforceable one short year ago on May 25, 2018. One of the biggest impacts of the GDPR has been the way in which it has altered the conversation about data privacy. Data privacy has become an increasingly global issue, and the GDPR and other similar regulations have been a forcing factor in getting companies and countries to begin taking customer privacy more seriously and strengthening their risk posture
A new Cisco white paper, Privacy Gains: Business Benefits of Privacy Investment, co-authored with the Beacon Research Group, looks at the ways privacy is driving value for enterprises worldwide, beyond complying with regulatory standards. The paper analyzes and details the benefits of privacy and contemplates the future state of data privacy.
Based on global survey data from the Cisco 2019 Data Privacy Benchmark Study, and Beacon’s qualitative conversations with select data privacy leaders worldwide, the paper identifies top business benefits realized through privacy investments including better agility and innovation, operational efficiencies, and competitive advantage, and fewer, less costly, data breaches. As one CEO put it, “Good privacy and being compliant can vastly reduce the risk of a data breach.”