If we roll back ten years from now, investing in data privacy software was certainly a laughing matter, as it was not considered a feasible investment. However, that's no longer the case. That's because, theft of data and identity has become a hot business for crooks. In fact, it's a lot easier to steal someone's money in cyberspace than pick pocketing on city-streets. Nonetheless, data privacy is no longer a significant issue for IT companies. That's because, IT companies are betting on their customers to pass on the good word - the good words on how secure their privacy really is.
What's more, well known IT companies are attempting to gain a lead by promoting themselves as leaders in information security. In fact, Mozilla, known for their Firefox browser has confirmed that it would allow Firefox users to disable third-party software, which can track users' online activities. Some companies have taken a different approach altogether by not dealing with IT companies that hold a bad reputation in the field of information security. Data Privacy is no longer a small matter, people are increasingly becoming wary of their online and offline privacy. With increasing social media use, combined with users storing personal data on cloud computers, measures to perfect information security are a must for all IT companies.
Furthermore, it also makes sense for IT organization to have a reliable information security infrastructure set in place. That's because, countries such as Europe have strict regulations on users' data privacy. Organizations that cannot fully guarantee the security of their users' are punished and may even lose their license to operate in the in the European Union. As we have seen with Microsoft 10 years back, a default setting in Microsoft's servers stored key users' data without proper security measure put in place. Thus, Microsoft was forced to make significant changes to its Information security infrastructure.
Several other organizations have taken notice of Microsoft's initiative and are now opting to do the same - focusing more on users' privacy. Smaller organizations with smaller information security budgets can also put in place effective data security measures by simply investing in third-party data security software which can protect folder containing private and confidential data on customers and their financial assets. This software is also capable of locking down entire hard-drive partitions, which is a priceless feature for organizations that need to archive or set apart different sets of data into different hard-drives.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.