Page 40 - Cyber Warnings

Achieving Digital Trust in a World of Data

By Drew Del Matto, Chief Financial Officer, Fortinet

Cybersecurity is at a critical tipping point. With massive volumes of data being generated and
analyzed across the globe every day from a variety of sources and devices, an entirely new
approach to network security is required. From both a business and a technology perspective,
traditional security paradigms are struggling to be agile and fast enough to move at the speed
required in this new world. How do companies successfully lead in a world that is being
transformed by technology and the utilization of valuable data? The linchpin to success going
forward will be a business’s ability to flexibly secure its sensitive data and create digital trust
with its customers and ecosystem.

Data is the fuel for the digital economy

The Internet of Things (IoT), heterogeneous data models, mobility, cloud solutions and
analytical tools are driving the inexorable proliferation of data. Tremendous value and
competitive edge are created through the effective use of data, and businesses across all
industries are using it to transform themselves and generate net new revenue streams. Data
has become the fuel of the next-generation business economy. We see examples of this every
day.

Some of the most established industries, like healthcare, are now more data-driven than ever.
Doctors have always used data to evaluate their patient’s condition, but that data used to be
stored on paper and film. Now it’s more available; physicians can instantly share files, images
and video with colleagues anywhere in the world, making doctors and the entire medical
profession more productive and no longer bound by time or distance. Data can be correlated in
ways never possible before, leading to more proactive diagnosis and treatment. And data
accessibility has the added benefit of allowing patients to be more engaged in their own care.

Data is disrupting businesses as well. Uber is the world’s largest point-to-point passenger
service without owning a single car. AirBnB is one of the fastest-growing hospitality services
without owning a single piece of property.

Companies like Google and Facebook are using consumer data to create new revenue streams
and deliver better customer experiences. Data has become an invaluable currency, and
businesses depend on it to fuel growth and innovation.

Data drives value creation and productivity

A recent report by McKinsey Global Institute (MGI), titled Digital Globalization: The New Era of
Global Flows, found that the flow of data between countries has brought the world closer
together and made us all more productive. Global flows of all types (goods, services, finance,

40 Cyber Warnings E-Magazine – April 2017 Edition
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