Why Read This
Data is the lifeblood of today's digital businesses. Protecting it from theft, misuse, and abuse is the top responsibility of every S&R leader. Hacked customer data can erase millions in profits, stolen intellectual property can erase competitive advantage, and unnecessary privacy abuses can bring unwanted scrutiny and fines from regulators while inflicting reputational damage. Almost every firm, from an online retailer to a hospital to a government agency, rarely works in isolation and can rarely confine data to within their four walls. The walls don't exist. They must work in a complex ecosystem of customers increasingly concerned about their privacy, digitally native employees, and demanding partners and suppliers — all perpetually connected by new systems of engagement and cloud services. In this new reality, traditional perimeter-based approaches to security are outdated. S&R pros must take a data-centric approach that ensures security travels with the data regardless of user population, location, or even hosting model. S&R pros who take this approach will help their firm position data security and privacy capabilities as a competitive differentiator and build a new kind of customer relationship. This is an update of a previously published report; Forrester reviews and updates it periodically for continued relevance and accuracy.