Data Privacy: Is my Data Safe?

Intro

In today’s advanced, analytical society, data rules the world. With such an emphasis on data to optimize business, there are plenty of sources to access tons of public data. However, most companies acquire a competitive edge based on their data privacy that should be for the company’s eyes only. Unfortunately for the company, complex supply chains provide opportunities for error in software framework to arise, either intended or unintentional. These mishaps in the supply chain can have drastic consequences for a company.

Through unintentional errors or on purpose, issues in software can be detrimental to a company’s data, and thus their operations. Misrepresentations in data have a large impact, hitting almost all facets of a business including marketing, accounting, sales, and finances. In addition, faulty data may affect customers which may be an even bigger concern than internal issues.

The Problems With Data Privacy

These problems will result in high costs for a company in order to fix the current supply chain and to make up for all those affected by the initial issue. Finally, some software issues stem from others trying to steal private information which opens a plethora of other problems like losing a competitive advantage which results in even more costs.

For example, consider a situation where a milk supplier delivers 1,000 gallons of milk every week to a grocery store. Through a faulty piece of software, a zero might be dropped resulting in a delivery of 100 gallons. This screws up the accounting as 900 extra gallons were accounted for and leaves normal customers without milk, weakening the reputation of the supplier. Also, the grocer will be unhappy, as they are missing out on 900 potential sales.

Real-Life Context

Now imagine an error like this occurring on a grander scale due to bad data and a bad supply chain. The consequences could be catastrophic! Just one erroneous piece in a huge chain can tarnish customers and other businesses’ views, invalidate the accounting records, and cause marketing to stray to the wrong demographic. Although it may seem like a minor detail, it is vital for companies to invest in high-quality equipment and software with routine maintenance in order to prevent mishaps that result in data impairment.

 

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