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In a continuously evolving technological landscape, global organizations are coming across new challenges to store and protect a huge amount of business data generated every day. While data being the core of any business, it plays the most important role in maintaining business continuity in any industry. While many organizations go all the way to protect tons of data generated every day, few are partially concerned about the security and the remaining stay least bothered about the security of their data assets.
Types of Data and why it is important
Numerous types of data are generated and accumulated in organizations both from outside and internally every day. The amount of data varies according to industry and it continuously changes its volume, shape and pattern. As water is the most essential element of human body for survival, similarly data is the “water” for organizations to survive in business. As we never question the importance of water, similarly the importance of data is never questioned. Organizations consider it to be a treasure which is generally classified as below:
- Financial Data
- Accounting Data
- Sales Data
- Business Contracts
- Customer Information
- Ongoing and Upcoming Project Blueprints
- Employee Details
- Payrolls
- Operations Records
- Other types of Confidential Information
Depending on the industry, this list is apparently never ending. In addition, if we think critically, every data captured, processed or distributed are crucial for any organization. Under any circumstances, this data deserves utmost security to ensure business continuity. If this data is affected by any means, it can lead to huge financial loss, reputational damage or even lock-down of business. Hence, organizations have no other choice apart from taking adequate security measures to prevent any kind of breach.
Why & How Data is Vulnerable?
Today organizations spend millions on evolving technologies, research & development, modern devices etc. but most of the time IT security measures are ignored which secures the business from multiple risk factors. Cyber crooks are always in search of lucrative data which is easy to hack and can be sold in dark web easily. They are getting technologically more advanced who target enterprise network, databases and applications. Most of the time, they pose as barriers to organizations’ overall growth and prosperity. Instances have been found where a single hacker affected more than 40 companies across the globe from retail, e commerce, manufacturing, BFSI and hospitality industry in a span of 2 months time. This shows the extent of damage a hacker can incur to exploit data assets.
Organizations on the other hand are quite oblivious about the importance of data security most of the time. Due to their scant attention, hackers find in easy to dig into the mine of data with their anomalous activities. It is imperative for organizations to start giving adequate attention to the security of inner peripheries and restructure security and control mechanisms to avoid any possible disaster. It is also important for the organization to create an arch over the network which can continuously monitor the user activities and prevent anything suspicious. Simultaneously, upgrading those security measures regularly is also important because the pattern of cyber threats are getting sophisticated day by day.
Bottom line: Data, being the soul of any business, should be protected with robust IT security measures to predict and prevent possible cyber threats before it’s too late.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behaviour Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.
