Data Protection Tips: 3 Major Benefits of Data Minimization
As businesses continue to leverage consumer information to make better financial decisions and improve their targeted marketing strategies, the amount of data being stored is skyrocketing, and that represents a serious security threat for organizations that fail to adhere to data minimization best practices.
Adopting effective data minimization practices is a smart way to not only ensure the privacy and security of your customers and employees but also streamline data handling and processing and ensure compliance with foreign and domestic regulations.
Some of the most important benefits it can offer include:
1. Simplified Compliance
Data minimization isn’t just a good idea: In some cases, it’s a legal requirement. The EU General Data Protection Regulation (GDPR), which went into effect in 2018, makes data minimization efforts mandatory for doing business inside the European Union or with its citizens, the California Privacy Rights Act includes similar legislation as well.
Legally, the GDPR requires that personal data collected by businesses be “adequate, relevant, and limited to what is necessary in relation to the purposes for which they are processed.” These standards have been adopted across much of the globe, and implementing these practices helps businesses avoid potential red tape, fines, or legal consequences for non-compliance.
2. Better Performance
Implementing data minimization practices can also help companies save resources by reducing the amount of data that needs to be collected, stored, and processed. With less data stored on their systems, businesses can more quickly locate and retrieve information that is actually important.
It also streamlines data analytics and processing, as reducing the amount of outdated or irrelevant data to sift through makes data management faster and more responsive while also avoiding the risk of too many metrics clouding a business’ ability to make informed and strategic decisions.
3. More Customer Trust
With a number of high-profile data breaches entering the public eye in recent years, it’s no surprise that customers are increasingly concerned with the privacy and security of their information. By being transparent about their data collection and usage practices and by only collecting and using the minimum amount of personal data necessary, businesses of all sizes can enhance the trust of their customers and employees and limit the risk of reputational damage caused by leaks or malicious attacks.
Rely on SEAM for Your Data Destruction Needs
For businesses and organizations located in South Dakota or North Dakota, SEAM offers comprehensive data destruction services that can help make data minimization a breeze.
Our certified technicians will travel to your doorstep to shred hard drives and solid state drives in accordance with NIST SP 800-88r1 standards, ensuring that sensitive data is never compromised.
As the only e-Stewards and R2-certified provider in the Sioux Falls area, SEAM is standing by to provide fast, convenient data destruction that meets the highest possible standards of security. If your business is overloaded with old equipment or storage devices that could contain information pertaining to the company, its employees, or its customers, reach out to our representatives today to find out how SEAM can provide you with peace of mind.