Data governance – Part 1: Data protection of digital assets

There is a growing need to protect confidential and sensitive data of these critical sectors, relating to government, prime contractors, suppliers, personally identifiable information, client trade secrets, details on mergers and acquisitions, media assets, designs, Intellectual Property, which if it falls in the wrong hands can be detrimental to the organization. With existing and upcoming new regulations, in many cases the onus to keep information secure weighs increasingly on organizations themselves, as a data breach potentially leads to high financial penalties. Aside from regulation penalties, other associated risks with data breaches include, high cost of notification of data breach, allocation of resources to contain damage, reputation risk, litigation risk, market value risk.