Definition: Data Paradox Meaning and 101 Introduction

Companies desiring to reach new levels of personalization started collecting customer data as early as the 1980s. Their tactics have since advanced – now, they use artificial intelligence (AI) and other sophisticated tools to drive daily analytics. Today, there has never been a greater demand for raw data, nor has there been a more pressing need for security and privacy.

Considering the unimaginable amounts of information businesses collect, utilize and analyze every day, they must be responsible overseers for the sake of their customers and partners. This ‘data paradox’ of wanting more data while recognizing the obligation to protect it grows ever more paramount with the passage of regulations from global government agencies.

The Data Landscape Today

As data becomes a part of a connected ecosystem, it is more susceptible to attack. Recent years witnessed an alarming rise in cyber-attacks and data breaches via social engineering and ransomware, with 2021 seeing a 15.1 percent surge from 2020. Plus, the larger an organization’s data becomes, the greater the likelihood of vulnerabilities developing from misconfigurations, human error, or improper maintenance. Data breaches are particularly costly today because companies handle so much sensitive customer information.

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