Digital Entrepreneurship vis-à-vis Managing Customers’ Data: Available Ways & Means to Protect the Online Presence of the Businesses

Abstract

The modern day businesses are having an inevitable online presence to ensure to grab every possible opportunity to do business. Even the businesses who do transact purely offline are also having their online presence by having their business websites. And those businesses which have an entire gamut of their services or digital products to offer only via online channels have to ensure near to perfect online set-ups to stay in the businesses. Online businesses receive thousands of gigabytes of data from their users or customers on a daily basis altogether. This data contains specific information about the geographics of the users, their financial information, KYCs, their investment and other key profile based data. What will happen if that enormous data lands in the hands of some unscrupulous people? The user and customers' data will get compromised affecting them negatively. Many of the users may incur financial losses due to that mishandling of digital data. And last but not the least, the digital businesses will have all the possible dents of bad reputation leading to even boycott of their businesses by the users on a massive scale. All this is sufficient to shatter the dreams of the digital entrepreneurship. This paper seeks to point out how the digital entrepreneurs can better identify key data of their users and customers, how they can keep safe custody of that data and how to manage and protect the confidentiality of the users and customers.