Data as a Toxic Asset

At Integry we like to say we're a boring Internet plumbing business. We move data between two points across the internet. This sounds trivial but given how every source and destination is unique, it's a huge pain.

While we're moving your and your customer's data: we don't want it.

That's right: we understand you need to get value from your data, it needs to move seamlessly between systems, but we as a business do not and will not profit from your data.

This means that we treat data as a toxic asset. If something is toxic, you want to minimize its collection, you want to store it safely, and you want people to interact with it as minimally as possible. We think that's a great guiding principle on how we think about data.

This is important because data is often seen as a valuable asset, but in reality, it can become a liability if not managed properly. Collecting and storing excessive amounts of data can lead to increased costs associated with storage, security, and compliance. Furthermore, the more data you have, the greater the risk of data breaches and the potential for significant financial and reputational damage. A data breach can lead to fines, legal battles, and loss of customer trust. Therefore, a strategic approach to data management is crucial, focusing on collecting only the necessary data and implementing robust security measures to protect it.

Here are some key considerations for managing data as a toxic asset:

• Minimize Data Collection: Only collect data that is absolutely necessary for your business operations. Avoid collecting unnecessary data that could increase your risk profile.
• Prioritize Data Security: Implement robust security measures to protect your data from unauthorized access, use, disclosure, disruption, modification, or destruction. This includes encryption, access controls, and regular security audits.
• Ensure Data Compliance: Adhere to all relevant data privacy regulations, such as GDPR, CCPA, and others. This includes obtaining consent for data collection, providing transparency about data usage, and ensuring data subject rights are respected.
• Regular Data Purging: Regularly purge data that is no longer needed. This reduces storage costs and minimizes the risk of data breaches.
• Data Minimization: Collect only the minimum amount of data necessary to achieve your business objectives. Avoid collecting excessive or unnecessary data points.

By adopting a "toxic asset" mindset towards data, businesses can significantly reduce their risk exposure and improve their overall data management practices. This approach prioritizes data security, compliance, and efficiency, ultimately leading to a more sustainable and responsible data strategy.