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How Data Security Can Protect Your Business

For the past years, one of the main concerns of businesses and consumers is data security. As technology progresses, digital thieves have become more persistent in staging their attacks to gain unauthorized access to personal information, financial records, intellectual property, and other valuable data.

 

Over the years, data theft has become a major cause for concern. And for businesses, it can also mean serious inconveniences that may lead to major losses.

 

In this article, you will be able to gain insights about data security and learn some valuable information that can help protect your business.

 

What is Data Security?

Data security is the process of keeping files, databases and websites safe from unwanted activity, unauthorized access and corruption. It refers to digital privacy measures meant to protect any entity, especially a business. It is also known as Information Security (IS) or computer security.

 

Data security has become essential in the safekeeping of important records. Many companies have already worked towards raising awareness and implementing measures to ensure that files won’t be compromised and issues on privacy will be avoided.

 

Over the years, new types of data security evolved to give businesses  a fair chance to address the evolving strategies of attackers. In the following section, you will get a clearer view of the types of technology used in data security and how they work.

 

Different Types of Data Security

 

1. Data Encryption

 

This refers to the use of different programs which encrypts your files on a hard disk drive. It uses algorithms and mathematical schemes to scramble data making it unreadable, and which can only be decrypted by the party that possesses the associated key. Disk encryption may mean two things: Hardware disk-encryption and software disk-encryption. Disk encryption is also known as On-The-Fly Encryption (OTFE) or transparent encryption.

 

2. Data Backups

 

Backups ensure the recovery of data from a different source when needed. In this modern age, data archiving is essential to prevent the occurrence of data disaster -- most especially when you are managing a business. Data backup is essential to ensure that a business runs smoothly and to facilitate continuity of business plans. Backups provide a copy of important files that can be used in case the original copy is lost or destroyed.

 

3. Data Masking

 

In cases when there is a need to anonymize data and protect it from inappropriate visibility, data masking is a suitable choice. Data masking is obscuring sensitive information from unauthorized personnel. An example is the disclosure of only the last four digits of a national identification number to protect said sensitive information from any customer representative. This type of data security technology enables data holders to protect their information and avoid unwarranted visibility.

 

4. Data Erasure

 

This refers to the measure of overwriting files to destroy electronic data to ensure that no sensitive data is leaked. Data erasure is a fitting solution that answers personal and corporate requirements especially in ensuring total destruction of electronic data on a hard disk drive and other digital assets. This type of data security technology promotes peace of mind as ur removes all traces of information from a targeted media.

Data Security Challenges That Businesses Face

 

Data security comes with challenges . Many organizations are now struggling to keep up with the increasing mobility of technology while at the same time protecting sensitive corporate information. To provide more information, here are some of the most common data security challenges that businesses face:

 

Lack of Resources

There is an estimated 1.7MB of data created per month, per person. This leads to inefficiency in managing the growth of resources especially as businesses deal with tight budgets to cope with excessive labor expenses.

Added Expenses

Compliance is another challenge that businesses face when it comes to data security. Increased regulation also means added expenses. In a study conducted, 53% of large organizations spend more than $1 million on compliance per year. While about 25% of mid-size businesses also spend the same amount annually. Likewise, management of redundant hardware and software across dispersed locations adds to the complexity and expenses.

Proliferation of Mobile Devices

Another challenge for businesses when it comes to data security is the proliferation of mobile devices. These devices are very prone to mobile data exfiltration or the loss or leak of confidential data. Mobile devices are prone to data loss due to:

 

  • Frequently shared mobile devices

  • It's highly-connected nature to web services

  • Mobile device users’ access to an organization’s internal network

 

In planning to improve the data security of your business, you have to weigh in on the effectiveness of traditional data security and data privacy products. There are challenges that affect your data security strategy and you have to look into innovative techniques to ensure that your business won’t lack protection and safekeeping of data will be done with ease and confidence.

 

Data Security Tips That Can Protect Your Business

Data loss or unwanted exposure of sensitive and private data may have serious consequences for any business, big or small. This is why it is very crucial for any business enterprise to plan and take steps in order to secure data effectively.

 

According to the Privacy Rights Clearinghouse’s publication,  more than a half-billion sensitive records have been breached since 2005 and those breaches included sensitive information such as credit card or social security numbers, with the majority involved small to medium sized businesses, while about one-fifth came from retailers, merchants and other types of non-financial, non-insurance-related businesses.

 

According to statistics, about 80% of businesses who experienced data security breach suffer severe financial losses , apart from the inconveniences that such occurrence ensue.

 

Data security is a serious topic and it is a must for business owners to know how to protect their business from security breaches. The good news? With the amount of technology available, it is actually possible to prevent data breach and stay away from the havoc that it can wreak.

 

Here we’ve summarized some of the most important tips that can help you protect any sensitive data that your business has.

 

  1. The key to securing data for any enterprise is to first identify information that it deems sensitive and therefore needs to protect.

 

  1. Next comes identifying the vulnerabilities -- areas where it is exposed. This also involves assessing your applications and which areas it is most vulnerable to external attacks.

 

  1. After you’ve assessed the security risks, create a clear data security strategy with concrete requirements to ensure the acquisition of the appropriate data security program.

 

  1. Keep only the data you need for your business’ daily routine. Sensitive information that is not regularly accessed or used should be secured somewhere else. Delete data that is no longer relevant or needed in all devices-- laptops, external hard drives, smart phones and the like.

 

  1. Adopt the use of technology that will ensure secure access to web and mobile app services, thus, also ensuring your data security. Biometric security and other similar technology is now being commonly used for a more secure digital experience.

 

In one way or another, any business or organization deals with data which make its safekeeping even more essential. While attackers are always on the lookout for opportunities to steal your information, you have to take advantage of the options to keep your data protected and secured.

 

Do you have a thought to share about data security? Got questions about this article? Let us know your insights by leaving a comment below.

 

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Tags: authentication, biometrics, data, security

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