5 most important data protection trends in 2024 and beyond

Data protection is giving more and more headaches to businesses. Data privacy regulations are profoundly affecting the way organizations approach their data security. However, fines for improper data management is not the sole reason why companies are enhancing data protection methods.

Namely, customers are more aware than ever of how their data is being handled, and they are increasingly interested in how organizations approach data protection.

🔗 Read on to find out the main data protection trends and principles, and how to increase data protection in your organization while collaborating remotely.

Data protection trends

Per Gartner research, data privacy will become a reason why people buy the product, similar to ‘organic’ or ‘free trade’ labels in the past. As the world and businesses become increasingly digital, it is more demanding to make sure data is always safe.

There are several trends that will push businesses to focus on data protection more than ever, and improve their data privacy processes.

#1 Increasing data protection regulations

By the end of 2023, 65% of the world’s population will have their personal data covered under a data privacy regulation. In comparison, this percentage was 10% in 2019.

European GDPR is a benchmark for other countries to regulate how organizations collect, process, use, disclose, and save personal data. Since GDPR, we saw several other big privacy regulations come to power, for example CCPA in California and LGPD in Brazil.

The trend towards protecting data more strictly is certainly not unexpected with the occurrence of more personalized products, services, and overall increase in online consumerism.

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#2 Rising importance of transparency in data protection

One of the biggest changes regarding data protection will come from the market demand. Namely, we already see how important data privacy and protection is for businesses. Multiple research shows that consumers are willing to stop from a business they don’t trust with their data.

For example, Cisco’s research brings several insights into data protection importance. 84% of consumers state they care about their data privacy and want more control over their data. Moreover, almost 50% of consumers say they have already refused to use a service or a product of a company they don’t trust with their data privacy policies.

On the other hand, Gartner’s research shows that the companies that improve and retain their customers’ trust when it comes to data privacy and protection will see up to 30% increase in their profits compared to other organizations.

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#3 Focusing on third-party risk management

74% of organizations that experienced a data privacy breach said the violation originated from granting too much access to third parties. In today’s online businesses, almost every product or service involves third parties. However, there is stricting regulation about how these third parties can access and use the data.

Considering how costly data breaches are and how much of them happen due to improper third-party management, both regulatory bodies and companies are taking note.

#4 Raising the awareness about data protection

With more personal information there is under the privacy regulations, the more breaches are detected, and more fines are issued. With GDPR, we see more and more fines being issued every year.

This shows that companies are still navigating the data protection realm, but it also shows how important it is. With regulatory bodies pushing for better data privacy standards, both customers and organizations are learning how data should be properly handled.

#5 Managing remote workforce challenges

The pandemic has created many challenges for businesses in 2020. One of these challenges was directly related to the abrupt switch to work from home model. Namely, businesses started to see more security and data privacy breaches than ever before.

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The security breaches happened due to inadequate remote work solutions, or due to lack of knowledge on how to handle data.

This is because a lot of organizations were not ready for this giant leap. However, companies realized all the benefits that hybrid work models have, and are enabling digital workplaces at an increased speed. Enabling highly secure collaboration tools and keeping up with the highest data protection standards is one of the major trends in data management for the upcoming years.

Data protection principles

The main data protection principles stem from General Data Protection Regulation (GDPR) that is in power in EU countries. However, other data privacy regulations are often covering the same aspects of data protection.

Here are the main guidelines on data privacy and protection.

Lawfulness, fairness, and transparency

Companies should be transparent towards individuals in stating that they are collecting, using, or processing their personal data. Also, it should be easy for people to understand any information or communication about their data privacy and protection.

Moreover, all these actions should be in accordance with the law.

Purpose limitation

All the personal data that a company possesses can be used only in the way it was explicitly stated it would be while collecting it. However, it is allowed to use the data further in public interest, scientific, statistical, or historical purposes.

Data minimization

Data minimization principle says that only the data that an organization needs to deliver their product or service can be collected. This way, it is ensured that there is minimal amount of data to be used and saved for further purposes.

Accuracy

The data must be accurate at all times, meaning that organizations must take responsibility for updating the personal information they have collected.

Storage limitation

This data protection principle states that the personal data can be stored only as long as it is needed. Moreover, companies should perform periodic reviews to identify data that is stored beyond intended use.

Integrity and confidentiality

Also known as the security principle, this postulate states that appropriate data security measures should be taken in order to prevent unlawful processing or accidental loss, destruction, or damage of data.

Accountability

The final accountability principle talks about the responsibility of the controller – the organization that is in control of data. The controller is not only responsible, but must also demonstrate the ability to comply with all the aforementioned principles.

Ensure data protection while collaborating remotely

In today’s interconnected world, organizations can’t make it without strong collaboration practices. After all, team collaboration is highly beneficial for companies: it sparks innovation, reduces employee turnover, improves company culture.. And, most importantly, it ensures that you deliver the best possible product or service to your customers.

However, collaboration in a digital setting could be inhibited by fear of exposing sensitive business or customer data. To prevent limited collaboration and data breaches, do the following.

Expand the role of a data protection officer

One of the major data privacy and protection trends is the increasing importance of the data protection officer role. Namely, with challenges of hybrid work, third-party risk management and growing rate of cyber attacks, data protection is becoming more complex than ever.

Data protection officer should monitor the organization’s compliance with privacy laws and act as a point of contact for individual requests about personal data. However, expanding the role of a data protection officer could include more close collaboration with the IT department and focus on ensuring highest data protection standards.

Communicate data protection measures

It is important not only to establish, but also communicate data protection measures – especially in the context of hybrid and remote work settings. For example, do your employees know the ins and outs of data privacy and protection?

Everybody that even remotely deals with personal data should know the main responsibilities of protecting it. In the end, the vast majority of data breaches happen because of unintentional human errors. Try to prevent them by communicating and providing training.

Ensure your software complies with data privacy regulations

You need to get easy-to-use solutions for your teams to use while communicating and collaborating remotely. However, if those tools are security-oriented and comply with data privacy regulations like GDPR, CCPA, HIPAA or others – the better!