Data is a powerful tool in every decision-making process for industry players and individuals. It impacts a company’s decisions ranging from expansion, product or service development, innovation, acquisition, manufacture of new product or introduction of new service, sales marketing to performance appraisal, investment appraisal, strategic planning, tactical deployment, and operational processes.

The success of every organization is encrypted in the company’s data which becomes a unique factor that sets them apart from other companies of the same or identifiable industry. Whilst some of these data are released to other stakeholders by reason of regulatory requirement and company’s policy, others are kept only for management. This data gives the company a competitive advantage of the company over its competitors, so the need for data privacy. Additionally, employees’ personal information must be well handled and not exposed to unauthorized parties.