Data Security: What is it?
IT Data Solutions
A data security framework is essential for all businesses.
Today, we do a lot online, and the rise in digitization and networked business activities has created unprecedented amounts of data. Unfortunately, more data means more opportunities for it to be lost, corrupted, sabotaged, or stolen, which is why it is crucial for business leaders to understand the term data security.
Put simply, data security refers to the policies and processes put in place by a business to protect their data from all sorts of harm, such as unauthorized access and theft, data corruption, or malicious software and ransomware.
This article will explain the different pillars of data security, and what businesses can do to ensure that their information is safe and secure.
The threat of lost, stolen, or corrupted data
Data loss, whether due to human error, software or hardware failure, or cybercrime, can disrupt your business in significant ways. Businesses might lose important intellectual property, potentially to rivals. Customer and client details might be stolen and sold on the dark web, potentially leading to legal liabilities. Data loss could even see your business’s financial security compromised if the credentials of bank accounts are misplaced or stolen.
Cybercrime alone has become a significant and constant threat to businesses. By 2021 cybercrime will cost the global economy over $6 trillion per year. In the UK, 47% of businesses have reported [PDF] a cyber breach or attack in the last 12 months, costing the target business an average of £1,230. Despite this, only 27% have a formal data security policy.
Protecting your business’s most important information with a data security plan is therefore essential. This article explains exactly what data security means and outlines the key pillars of a comprehensive data security framework.
The pillars of data security for businesses
There are several pillars of a comprehensive data security framework for businesses, and without a plan for each, your business is exposed to vulnerabilities. On the other hand, a comprehensive data security plan will protect your business against cybercrime and data loss. It will protect, and perhaps even increase, your organizations’ reputation and fiscal health.
We will now outline these essential pillars for data security, which all businesses should invest in.
