Data Compression Can Help Companies Meet Compliance Standards

Companies are faced with the prospect of storing more data than ever before. IDC estimated that the amount of digital information being stored doubles every two years. This has given rise to the need for improved efficiency and data management practices.

In the past, companies periodically destroyed outdated information to reclaim space for new data. But now, many organizations are finding more reasons to hold onto their information. This is because data compliance requirements force organizations to hold onto information longer. Additionally, companies are seeing that data can be used to analyze past or current trends and predict future ones. The price of storage has decreased as much as 40 percent, so it is more affordable for companies to keep data than to sort through it and discard it.

Data compression software like PKZIP reduces the size of files so that they take up a smaller amount of space. Data encryption software like SecureZIP provides companies with the opportunity to both reduce the size of their files and protect their sensitive data while at rest. This can help companies protect confidential information, meet compliance requirements and reduce overall data storage costs.

The consequences of a compliance breach can be very costly, pointed out Data Center Knowledge. When Health Insurance Portability and Accountability Act (HIPAA) regulations aren't followed, companies can be charged with criminal and civil penalties, like going to jail, as well as fines. Healthcare providers are also required to distribute press releases to media outlets so that patients are informed of a potential loss of information. With the Payment Card Industry Data Security Standard (PCI DSS), companies aren't charged with criminal penalties, but can be assessed fines that range from thousands to millions of dollars. The financial and reputational damage can impact companies for many years.