Most companies have some sort of regulation they need to stay compliant to, and 2020 seems to be a landmark year. This year, companies have to deal with end-of-life upgrades, the development of new privacy laws, as well as the existing regulatory landscape. Let’s take a look at why compliance is important and what to expect in the year ahead.
When we write about Net Neutrality, we typically write about how it is designed to keep the telecommunications conglomerates, who make Internet service available to individuals on the Internet, honest when laying out their Internet service sales strategy. One way to put it is that without net neutrality in place, the Big Four (which are currently Comcast, Charter, Verizon, and AT&T) have complete control over the amount of Internet their customers can access.
Despite what detractors say, regulations are in place for good reason. They typically protect individuals from organizational malfeasance. Many of these regulations are actual laws passed by a governing body and cover the entire spectrum of the issue, not just the data involved. The ones that have data protection regulations written into them mostly deal with the handling and protection of sensitive information. For organizations that work in industries covered by these regulations there are very visible costs that go into compliance. Today, we look at the costs incurred by these organizations as a result of these regulations, and how to ascertain how they affect your business.
One of the inevitabilities of working with the cloud is that you have to face a tough question; what kind of compliance requirements are there for cloud-based data? If you’re storing data for your business in a cloud-based environment, it becomes your responsibility to know where and how this data is stored--particularly if you’re not the one doing the actual cloud hosting. How do you maintain compliance when you seemingly have so little control over how your computing platform is managed and maintained?
Compliance laws regarding the storage and dispersion of healthcare records were implemented with the intended purpose of urging healthcare providers to better take care of their patients’ personal information, but how effective are they? Unfortunately, there are many providers that have failed to meet the standards for the HIPAA and HITECH compliance laws, and it has brought a hefty price tag along with it.
Data loss can have lasting effects upon your business, usually measured in lost productivity and capital. In other words, data loss is often measured by the cost required to retrieve, restore, and/or repair its effects. Of course, this is only the beginning of how data loss can impact your operations.
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