David C. Frier discusses the importance of data protection and classification. He outlines common data protection threats like lost devices, disposal issues, and network exposure. While CEOs perceive effectiveness at 58%, other executives are lower at 48%. The most effective controls are seen as data loss prevention tools, while email filtering and backup encryption are seen as less effective. Frier advocates for classifying data into a taxonomy of 7 layers from kingdoms to species to appropriately focus protection efforts. This helps determine regulatory scope, prioritize coverage, and phase in programs.