Data loss can result in disastrous situations for organizations, it can also result in loss of revenues, irate customers that ultimately hold the potential to damage an organization’s reputation.
Today, Data has become increasingly important for all businesses. Data loss, either from a security breach or due to a careless mistake, can be devastating for businesses. It is a well-known fact that 60% of companies who suffer data loss eventually face a situation that leads to a complete shutdown. In this blog, we will focus on ways organisations can prevent a potential data loss.
Before we look at data loss prevention, it is important we identify the different types of data an organization holds.
1. Customer Information:
This is customer’s personal and non-personal information that is usually held in a company’s Customer Relationship Management Software.
2. Operational Information:
This set of data encompasses organization’s operational data pertaining to its employees, practices and businesses processes
3. Intellectual property(IP):
In a digital world, IP is every company’s prized possession. It may relate to its products, services and future business plans.
Information security as a term refers to the protection of ALL data and is different from cybersecurity that purely protects computer-based data. Today, increased importance is given to cybersecurity, as many organizations are vulnerable to looming cyber threats. While there are many factors that may cause a data loss, the sources of damage will usually fall into one of three categories: internal error, mechanical failure or external attack.
To prevent such an incident, companies can resort to following:
1. Regular Backups:
Any organization’s data is one of the most valuable assets that contains all the vital and sensitive information about its clients, contracts, orders, etc. While many large and medium-sized corporations have resorted to automated daily backups, there are many, especially smaller ones who resort to manual backups largely due to lack of adequate expertise and infrastructure. These practices result in security loopholes
2. Email Security:
Phishing attacks are more rampant than ever before that is because it is also one of the easiest forms of cyber attack for a criminal to carry out. It’s important that you find a powerful email security and antivirus software to prevent malignant emails getting through.
3. Adequate Website Security:
The website is one of the important digital assets for every organization in this hyper-connected digital world. It is therefore imperative for companies to adequately secure their organizational websites. QualiSpace offer various website security tools such as Secure Sockets Layer (SSL), CodeGuard and SiteLock.
While data breaches are an attempt by agents who deliberately attempt to break into systems, it is not accurate to assume that all these agents are external, various reports reveal that there have been many reported instances where data breach was caused by an internal factor. Not necessarily intentional but largely due to common negligence and human error. Which is though there are numerous tools and ways to prevent a data breach from happening, the human factor is usually the most dangerous part of an attack, as employees are often unaware that they could be opening harmful malware files or creating a gateway for criminals to extradite important company information.
Training and updating employees on newer cyber security policies and thereby establishing a strong security framework with ideal firewalls and tools in place can, therefore, be considered ideal for any organization.