Privacera Co-Founder and CEO Balaji Ganesan shares important data security trends including the rise of Chief Data Analytics Officers, multi-cloud adoption, and increased data privacy regulations
FREMONT, Calif. – December 13, 2022 – Today, Balaji Ganesan, CEO and Co-Founder of Privacera, the only open-standards based data security governance leader founded by the creators of Apache Ranger™, shares a round-up of 2023 predictions and trends and what the company believes will be top of mind for enterprise organizations that want to compete in a data-driven economy.
“Today’s companies need to be proactive, not only about data security and investing for long-term growth and business success, but getting ahead of the ever-shifting regulatory environment,” said Privacera CEO Balaji Ganesan. “Data security platforms will continue to gain popularity as they help simplify the complexity of managing data access controls, support data governance strategies, and drive higher-value analytics that unlock the full data-driven potential of enterprises.”
According to the Gartner® 2023 Strategic Roadmap for Data Security Platform Adoption,“by 2025, 30% of enterprises will have adopted bDSP (Broad Data Security Platform), up from less than 10% in 2021, due to the pent-up demand for higher levels of data security and the rapid increase in product capabilities.”
Data security platforms are essential for the modern data stack, and must be day-one considerations in an overall data security strategy as they provide a combination of fine-grained access controls and policy enforcement across the data estate, data masking, sensitive data discovery and classification, and automated workflows to meet changing regulatory requirements.
The adoption and combined power of data analytics, privacy and security solutions will skyrocket over the next few years as more data amasses within an organization.
Privacera’s 2023 data security and governance predictions and trends include:
Chief Data Analytics Officers will Become a C-Suite Norm
The Chief Data Analytics Officer role will become even more universal as enterprises aspire to be data-driven to improve decision-making and achieve desired business outcomes. However, without someone strictly focused on leading data analytics, assessing internal and external data strategies, and developing the data’s architecture, it is difficult to accomplish. While it is a developing space, the ROI of bringing a CDAO in-house is clear.
The Appetite for Multi-Cloud Adoption Will Continue to Grow in 2023
As business leaders look to modernize their data architecture, the adoption of multi-cloud services will continue to rise. Business leaders should take a “best of breed” strategic approach that looks at individual organizational use cases. Various cloud partners and services to handle different needs is a reality today but requires a comprehensive data security governance approach to address the increasing challenges of a multi-cloud data strategy. Business leaders are looking for even more scalable ways of building data-centric applications including self-service analytics and modern data collaboration to get even more mileage – and ultimately value – out of that data. A critical prerequisite to achieving this modern data collaboration is to integrate with a scalable data security platform.
Creating the Frictionless Data Security Governance (DSG) Environment
Implementation of a data security governance environment that meets the enterprise where their data lives is essential. Frictionless also translates into an all encompassing DSG environment that is universal by applying security and governance controls to the entire data estate within smaller and larger organizations. This approach leaves nothing to chance and allows for a DSG framework where policies and declarative rules are not just expressed by code, but can automatically be instantiated based on intent. Doing so will ensure organizations are working towards meeting every changing and complex compliance requirement while simultaneously protecting and regulating discovery and access of sensitive company and customer information.
Zero Trust Comes of Age and Data Mesh Promotes Democratization
Zero trust and data mesh will also see an uptick in implementation. Both of these concepts allow data to stay where it is and make sense of it safely, ensuring compliance and that privacy is preserved. Zero trust is an approach to enterprise cybersecurity that presumes no connections to corporate IT assets should be trusted. Instead, zero trust begins with a “default deny” security posture: Trust no one and grant the least privilege. Data mesh promotes data democratization by enabling enterprise-wide users to access any dataset across organizations independent of data location, resulting in more business units to monetize data and drive business transformation.
Congress Could Introduce New Federal Regulations to Protect Consumer Data
Consumers are becoming more aware of how organizations are collecting, storing, and using their data which is creating an urgency for Congress to write and pass federal regulations surrounding data security and privacy. Moving toward a federal privacy law has bi-partisan support. Regulators will look to make an example of those who have been compromised with fines and other significant consequences, so it’s more important than ever companies are proactive about their data security approach.
For additional predictions from Privacera, visit our blog. To learn more about Privacera’s Unified Platform for Data Security and Governance, watch this demo. To request a live demo, send us a request.
Founded in 2016 by the creators of Apache Ranger™, Privacera’s SaaS-based data security and access governance platform enables data and security teams to simplify data access, security, and privacy for data applications and analytical workloads. The Privacera platform supports compliance with regulations such as GDPR, CCPA, LGPD, and HIPAA. Privacera provides a unified view and control for securing sensitive data across multiple cloud services such as AWS, Azure, Databricks, GCP, Snowflake, and Starburst. The Privacera platform is utilized by Fortune 500 customers across finance, insurance, life sciences, retail, media, and consumer industries, as well as government agencies to automate sensitive data discovery, mask sensitive data, and manage high-fidelity policies at petabyte scale on-premises and in the cloud.
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