In today’s digital age, it is increasingly common for businesses to collect and store customer and personal information. Often this information is used for a variety of purposes, such as marketing and advertising, processing transactions or to provide more personalized services to clients. However, the more information a business collects and stores, the greater the risk of a data breach.

A data breach is a security incident in which sensitive, confidential, or otherwise protected information is accessed, copied and disclosed without permission. Data breaches can have serious consequences for both businesses and individuals. For businesses, a data breach can result in loss of customers, damage to reputation, and financial losses. For individuals, a data breach can lead to identity theft, financial fraud, and other forms of cybercrime.

To reduce the risk of a data breach here at 2Gen we recommend to only collect and store the minimum amount of customer and personal information necessary to conduct business. Meaning only asking for information that is relevant directly to the service or product being offered. To better explain this, a retail store may collect a customer’s name, email address, and payment information in order to process a transaction, but they would not need to collect other information such as a customer’s date of birth or passport number.

Another way we recommend reducing the risk of a data breach is to dispose of the customer’s personal information as soon as it is no longer needed. This means deleting or otherwise destroying any information that is no longer necessary for business purposes. Helping prevent the potential consequences that follow a data breach and its severity.

Is 2023 the time to review and implement improved data management policies and practices that minimize the amount of sensitive information stored?