Throughout history, specific commodities have dominated economics. From salt and spices to silks and silver, each came to define the economies of their eras. Today, the world operates on a global system of currency exchanges. But behind those dollars and yen is another commodity that is currently changing how the world perceives value. That commodity is data.
In the digital era, the financial worth of data cannot be understated. Used properly, data empowers companies to better understand their customers and create personalized buyer experiences. Data analysis helps organizations and individuals predict coming trends, optimize their marketing strategies, and gain an advantage over competitors through the timely introduction of new products or services designed to address customer needs.
But with this value comes a downside. Cyber criminals seek to exploit vulnerabilities in digital systems to gain access to sensitive data for malicious purposes—and every organization and individual is a potential target. This is why protecting data through effective cyber security measures is critical.