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The data economy – how does it impact my business?

24 March 2021

#Data & Privacy

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The data economy – how does it impact my business?

Data is essentially information. It can be raw data, such as information about customers, suppliers or other information, or more formal data such as trade secrets, confidential information about business processes and procedures, databases, insights or forms of intellectual property such as databases or software code.

Often businesses assume data is regulated and protected in the same way as other intangible assets, such as intellectual property, but this is generally not the case.

So how is data legally protected in Australia and what can businesses do to identify risks and opportunities of participating in the data economy?

In our latest guide on how the data economy impacts businesses, we look at the relevant data protection laws in Australia and ways in which businesses can benefit from cataloguing and analysing their data. We also highlight the risks and opportunities of introducing technology, such as automation and AI, to handle data and the various issues that could arise from data sharing. Click here to read the full guide.

Author: Lyn Nicholson

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this article is accurate at the date it is received or that it will continue to be accurate in the future.

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