What is the importance of Data Security for Business?
When companies’ experiences data breach, it is all over the media. Companies hold sensitive data for millions of people that is why they need to embrace data security.
I guess we all know that electronic systems are manufactured to operate with any type of data. Regardless of the business size and its operations, they work with different kind of data to provide good service to their end-user.
Any information regarding company’s product, services, customers, and employees need adequate data security to operate in a fully working environment.
When your company experiences a security breach, it doesn’t matter what number of users were compromised, and the fact remains that the breach is going to ruin your business. And that’s why we should take data security seriously.
Why data security is a must and not a choice
Any business operates with all kinds of confidential and sensitive data. The electronic system handling that data needs to be secured in a possible way. Data protection is must and not a choice for every company, regardless of its entire size.
Let’s look at two reasons why data should be secured from any threat.
Business reputation – Every customer trusts a business to handle their sensitive data especially regarding financial information. Since business exists to provide a service or a good to their customer with ultimate trust, no company would dare try to abuse their customers’ information. Any data breach or leakage could easily affect the business reputation. Note that it’s not the money at stake but also business reputation which takes years to build it back.
Data exists as an asset – Information regarding the goods and services offered by a business, its financial plans and strategies and information regarding their customers is owned fully by the business. This information can be used to optimize revenue and overall improvement of business. Any kind of data used to generate future benefits becomes an asset. And such data should remain confidential and secure.
Factors that you should consider to enhance data security
If you incorporate the right procedures from the start, it creates a culture to embark data security at the working station. Here are the factors that you should consider when enhancing your business data security.
Where possible breaches and leakages lie – You should think about the biggest threat of data breaches and leakage lie before investing in any security measures. You should spot your weakest point so that you may know where you need security the most.
What you lose if data gets unsecured – When your data gets exposed it costs more than just cash. If your business relies on a good customer trust, then data security is not an option. For instance, if your business accepts credit card as the mean of payment, you need to have those credit numbers invisible to anyone.
Costs – You should think outside the box when upgrading data security, whether the cost of protection is worth to have a secured data in place. With the current technology, businesses should be in a position to acquire adequate data protection.
Handling disruptions – Disruption in a workflow of a business is a usual thing. You should also take into account security measures upon your employees. If you can afford the prices that are associated with disruptions, go with the option that brings the least form of disruption.
What businesses need to do to provide data security?
There are many consequences of weak data security systems. Whenever data breach happens, it affects the business of different sizes equally. These consequences outweigh the cost needed to put up excellent data security.
There are various security measures that business should consider to be on the safe side.
1. Data recovery
You can reclaim data that is no longer in your database due to corrupted storage. The damage could be in a file system or a physical storage device. Data recovery plan should be part of a strategy to reclaim data whenever it gets lost. Implementing data recovery plans and strategies can ease the process of data recovery.
2. Spam and virus protection
You should have a strategy to rule out viruses or malicious files from replicating themselves into your computer programs and files. Undetected viruses and malware can easily corrupt and damage your sensitive data. Despite their position to corrupt data, they can also gain access to private information and leak confidential details to third parties. Virus and spam not only bring harm to your data but also ruin the reputation of your business. You should consider antivirus programs to detect and eliminate virus and spam at all times.
3. Use firewalls
Firewalls monitor your network traffic based on fixed security rules. It acts as a barrier between a company and the external factors. With a firewall, you can filter all suspicious incoming and outgoing traffic. Hence, you can protect your data by malware and networked computer worms. You should have both network and host-based firewalls software running on your machine to control traffic.
4. Data backup
Backing data for all businesses should be a daily routine by copying and storing digital information to other storages besides your computer. Data backup can be done on a cloud server or a physical data storage device. Data backup will act as a way to have back your information once it is lost.
What benefits do you get from doing this?
New strategies, new technology, and devices work great for business. The more information we make available to customers and employees, the better. The dark side, however, is that without proper security measures information can become avenues for an intrusion.
That’s why a dedicated data security makes sense. You need to optimize it to stay put and enjoy the following benefits.
1. Data Integrity
Integrity gives assurance that only the right people gain company information. The integrity of a database is ensured through a User Access Control System. This system defines authority and permissions for who can access which information.
2. Expanding into new market
Data security will act as a catalyst to penetrate the business into new markets. For instance, adding a security application to LAN can help you gain access to military and government market.
3. Protecting valuable information
Sensitive information must always be protected. As earlier said, information is a valuable asset for any business. No matter what products or services you offer, data security protection is a vital role for a useful information technology infrastructure.
4. Keeping ahead of competitors
Businesses that purchase software and encrypt the software application with security are always one step ahead of their competitors. Any software can properly workout for business but laying additional security levels is viewed as a benefit. Handling customer information with care builds up trust, and likewise, you have an added advantage over your competitors.
5. Helps you to stay updated
Adequately enforced data security helps you to be updated. New security threats are identified every day so you should have your protection up-to-date. Staying ahead of hackers requires data security improved and sharpened.
Data security helps you to stay current with fluctuating environment daily. Moreover, security skills and knowledge pinpoint your best action plan towards data insecurities to stay put.
Dealing with businesses involves dealing with all sort of sensitive and personal data. Today, enterprise collect data for every new customer. Integrating data security to your business IT infrastructure is of great importance towards protecting information and this in return delivers optimal levels of data breaching and leakage prevention and the overall business security.
Electronic data protection should therefore be a priority for businesses of all sizes. Backing up your data remotely creates a chance to reclaim your data when it gets lost. But, laying a good data security plan is the best alternative and the most relevant way to secure sensitive information.