Data Security & Protection: What You Need to Know
According to an IBM study, the global average cost of a data security breach is $3.86 million. The most valuable asset in most businesses is their data. Client records, financial data and marketing stats form the intangible core of companies in any industry. Misuse of this data can lead to serious consequences such as loss of client trust or business. When the same data is stored securely and used right, it can enable your business. Effective data security and protection requires an understanding of what data you possess and how best to protect it.
1. Understanding the importance of your data
Every business has a budget for data security and protection. This budget has to be optimally distributed to safeguarding different types of data. Some data types are less at risk of being violated than others. These data types naturally demand less security. However, it’s best for you to conduct regular audits and assess risks associated with data that you hold. This and establishing the types of data you hold can help you plan data security and protection better.
- Establishing the data associated with your business –
- Take account of data stored across all systems and business locations
- Consider data stored on servers, in personal laptops and on the cloud
- Don’t ignore data stored on CRMs and within other web software
- Pay attention to data collected by your website and apps
Assess how this data will be used –
- How will this data be transferred? Will this data be shared through Dropbox or over email?
- How often will this data be accessed? Your employee database, for instance, may be accessed every day.
2. Predicting potential threats
Your data is vulnerable to different types of threats- online breaches, physical threats and human error. You can protect your data from these threats by being aware of how they manifest and the solutions that are available to keep them at bay. Here’s a detailed description of the different types of data threats that you could face.
Online data threats
- Companies that hold sensitive data should be wary of attack from hackers. It’s not uncommon for hackers to target even small or medium businesses if they believe that they hold data of value.
- Of late, many businesses have suffered attacks from Trojans and malware, which can entirely be avoided by setting-up proper security barriers.
- Ransomware has also become a popular data threat over the internet. Unlike viruses, which can be easily eliminated, ransomware is tricky to combat during an attack.
Physical data threats and human errors
- Damaged hard disks are more common of a problem than you might think. But such problems can be averted easily by saving data securely on the cloud.
- Theft of company property can result in the loss of data.
- Employees could accidentally misplace or erase data.
3. Preventing the loss or misappropriation of data
The key to protecting your data constantly from security breaches is storing it safely. What is the best way to store your data? What data storage services are best to use? You can choose the most secure data storage option based on your budget and how important a certain type of data is. However, these are a few basic data protection methods that you could apply to keep data loss and security breaches at bay.
- Store your data centrally. This is typically considered more secure than storing data at multiple locations. If you are worried about single-point failure, ensure that you have a back-up for your servers.
- Invest in data security measures to protect your data storage units. Backup your data regularly. Use two-factor authentication where possible. Consider using encryption for confidential data.
- Give access to only those who require it. Many businesses use solutions such as multi-login cloud storage. That’s when you have to carefully assess who really needs access and who doesn’t.
Data security breach can prove expensive to your business. That’s why it’s essential to understand your data and how it can be protected. You may get in touch with our IT Support London team at totality services to know more about data security & protection.