Security and privacy are two of the most vital elements of a company's risk management strategies. They work together to safeguard sensitive information and ensure that it is accessible at all times. Without both of these components organizations could be exposed to significant risk and lose valuable assets in the event of an incident involving data. Data security ensures the integrity of data, while privacy policies establish standards for when and how personal information is be used and collected.

In the world of technology today, companies have access a wealth consumer data. As a result, a lot of consumers are concerned about how their data is being used and whether it's being secured. A single data breach can end years of trust and bring negative publicity which can harm businesses over time. Companies that place a high value on data security and privacy develop trust with customers and gain competitive advantages.

Data privacy is also referred to as information security, and it is about the secure use and storage of personal information. It is centered around the rights of individuals to control and influence the type of information is collected about them and the way it is used, who has access to it and when it may be shared with other people. It is usually addressed via legislation from the government and industry like GDPR in Europe or the California Consumer Privacy Act (CCPA) in the United States. Privacy protection includes compliance with such laws and regulations, in addition to ensuring that data is protected and encrypted at all times.