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16 Gibraltar International www.gibraltarinternational.comTelecommunicationsBy Julian Sheriff, Head of Operations, GibFibreWhat is data residency, and why do you need to care about it?Data is the engine that drives businesses forward, but to get the most out of the data they generate and hold, organisations need to ensure they are on top of data management.This covers everything from data gathering, cleansing and analysis to more complicated aspects such as data sovereignty and data residency.What is data residency?Simply put, data residency is where data is stored. This could be a physical location, such as hard drives in an office, or it could be a virtual solution such as the cloud.It is a key consideration for businesses that need to adhere to strict data privacy rules and regulations, especially those with a footprint in several jurisdictions across the world.Data residency also covers data mapping, which helps organisations understand what data they hold, where it is located and the rules and laws in place in each location.A quick word on data sovereigntyData residency and data sovereignty are often used interchangeably but there are subtle yet important differences between them.With data sovereignty, it%u2019s all about the specific legal frameworks governing data while residency is mostly about the geographical location of the data.Why businesses need to think carefully about data residencyThe primary focus of data residency is to be compliant with data protection laws and regulations in the jurisdictions where the business operates and the data is held.Other considerations include security and ensuring data is protected, and that the right levels of access are in place.Ultimately, it comes down to ensuring that data is stored in the right geographic areas and is compliant with the laws, customs and general expectations of those jurisdictions.The risks of getting it wrongGet data residency wrong and you can find that you have unintentionally broken data laws, which can lead to some pretty heavy penalties.It can also leave an organisation and its data vulnerable to a cyberattack, the impact of which can be severe and go beyond financial damage to reputational harm and, again, legal repercussions.What are the upsides to getting it right?Get data residency right and there are plenty of upsides to take advantage of.This includes having more control over where data is stored and accessed, resulting in better data management practices.Consumers and clients feel more confident knowing that data is being stored in line with requirements, and that the necessary security protections are in place.Most importantly, it means data is being stored compliantly and in line with the rules and regulations of the specific countries it is being stored within, mitigating the risk of breaking the law.www.gibfibre.com