Data Protection: What's the Need?

Data Protection: What’s the Need?


Introduction

As a business owner or an employer, you must be well aware of how real-time data can transform your business. You also must be aware of why data security and protection are important. You must be doing whatever it takes to safeguard your empire’s boundaries. But in this digital world, where almost everything is fragile and vulnerable, risks are more than ever. Let’s understand.

Your employees are your assets-and these days your assets generally operate out of spectacular corporate offices. Thanks to the pandemic! The workforce is majorly remote and due to work needs, they have access to sensitive corporate servers and databases. These tech-savvy employees work on Company-Owned or BYO Devices to connect to the organizational network. Thus, as an employer, it is very important for you to restrict their browsing behaviors and other digital activities, while they access and use official documents, databases, and servers.

Your whole organization can be at risk even when a single employee by mistake accesses any malicious browser or downloads any app, which silently accesses your sensitive corporate data.

Let’s have a look at some of the major challenges.

Challenges in the Way of Data Security and Protection

It’s high time that we should start realizing the importance of data security. Let’s have a quick look at some of the major challenges that come in the way of data protection.

1. Lack of individual awareness

Lack of awareness leads to unintentional disclosure of personal data, cyberbullying, cyberattacks, phishing, breaches, and other security-related incidents. To be honest about it, many of us still don’t understand what data needs to be protected, actually. Names, addresses, emails, contact numbers, bank account details, credit card details, health-related information, physical addresses, etc all come under sensitive data. This needs to be safeguarded against any kind of theft. 

2. Remote workforce, BYOD, and proliferating devices

The more the number of devices, the more the data, thus more possibilities of data loss, non-compliance, and theft. The modern-day tech era based on the Internet of Things, BYOD, COD, etc., is vulnerable to data breaches, cyber-attacks, and scams more than ever as the majority of the workforce goes remote.

Many businesses, operating remote, are facing this real issue of device management and monitoring as their employees operate in unsafe remote locations. In this case, employers should try effective MDM solutions to manage, monitor, and secure their endpoints and devices spread worldwide.

3. Treating data privacy as an afterthought

Data privacy and protection is not a thing to be thought of post a security incident. Unfortunately, many organizations treat data privacy as an after-measure post an incident or breach. Rather, the organizations should focus on data protection and prevention. It should be given utmost importance as a part of your company’s data strategy.

4. Poor access controls

In many organizations, poor access controls lead to failure in data protection and strategy as a whole. A strong data protection policy is the need of the hour to meet the basic CIA model of Compliance, Integrity, and Accessibility.

Let’s explore why it is important to safeguard your data.

Why is Data Protection Important?

As we breathe in a digital world, almost everyone talks about data. Data “should be” organic, “should be” private, “should be” protected, “should be” secure, and “should be” reliable. Beyond all these “should Be’s,” have you wondered what is the need for data protection? Especially as a business owner, why it is important to safeguard your data and maintain its uniqueness. Let’s understand what’s the hype about data protection and security? 

Data protection is important:

-To safeguard sensitive corporate data

Your employees access many things on the web today. They sometimes download apps for business purposes solely or browse through certain websites for work. Users’ information is anyways collected by websites, social media platforms, and mobile applications in exchange for the ability to use them. These social media platforms and apps take advantage of app permission policy and set certain malicious frameworks, which can pose a real threat to the users. Names, emails, addresses, health information, phone numbers, and credit card or bank details stored by any organization come under the category of extremely sensitive information and if it falls into the wrong hands, might jeopardize the security of all parties concerned.

-To secure yourself from online phishing attacks, ransomware, & malware

The necessity of data privacy has grown in tandem with the rise in internet usage. Your employees access many things on the web today. Scammers keep sending phishing emails and employees, due to unawareness, become a victim of phishing attacks. They unintentionally download malicious links, which costs huge monetary losses sometimes as attackers wipe the essential data and ask for a ransom to restore the data. 

To maintain customers’ trust in your business

Any business depends on its customers for its success and growth. We all must have seen many businesses that have stood the test of time. Customers trust your business and thus share their sensitive data and information. If they sense any loophole in your business framework, there are high chances that they will choose to leave you for a more reliable and secure business. If you care about data protection and privacy as a business, you will eventually gain your clients’ unwavering faith and confidence since they will know that their data is safe with you.

To promote online ethics 

The digital world goes by its own rules. But having said that, maintaining your core values is as important as maintaining your customers’ faith. If you’re ethical, and If you aspire to thrive in this competitive corporate world, the personal and financial data of your employees and vendors must be stored safely. 

-To ensure safe BYOD practices

As the majority of the workforce operates remote, and opt to work on BYO devices, it becomes critical to ensure that the corporate servers and databases remain secure. Businesses should enforce strict policies and regulations to secure their essential corporate assets from any kind of cyberattacks coming through BYOD channels. Employees should also take equal responsibility as they access the office from their comfort zones. 

Types of Data Protection

Let’s discover various types of data protection that can benefit your business.

1. Data encryption

Data encryption is a method of converting unencrypted data into ciphertext or encrypted. Encrypted data can be accessed with an encryption key. Massive amounts of confidential data and information are managed and stored in the cloud or even on connected servers. Data encryption safeguards digital data exchanged over the internet as well as through computer systems. Encryption secures your business against cyber-attacks, such as malware and ransomware. It is actually giving a tough time to cybercriminals.

2. Password protection

Password protection allows you to protect your data by creating and applying strong passwords so that no one else, except you, can play around with your data without your permission. Make sure you and your employees maintain password hygiene by enforcing unique passwords for different sets of data and information. One should never use the same password for different platforms. Existing passwords should be changed periodically to avoid misuse and breaches. They should be strong and generally should not contain employees’ names, date of birth, etc. Passwords should have their own unique identity! They MUST stand as a giant protection wall, thus safeguarding your sensitive data.

3. Identity and Access Management

Identity and access management is a set of policies and frameworks which ensures that any organization’s data is safe, secure, and is available when needed to those who actually need it. Identity thefts such as the misuse of personal information are very common these days. Many businesses lose their market and vendors because their sensitive information gets compromised due to weak identity and access management policies. Businesses should ensure that their customers’ and vendors’ data are secured, checked for malicious activities frequently. Also, the data should be readily accessible for business purposes. 

4. Fraud Detection and Prevention software

At the core of data privacy and protection, lies fraud detection and prevention policies and software. Many malicious websites use cookies to access information. Businesses should opt for such fraud detection and prevention software to safeguard themselves against ransomware and malware. Breaches can negatively impact a company’s reputation and revenue, ultimately. Such software allows early fraud detection and prevention. 

5. Browser Restrictions

To add an extra layer of security, businesses must keep a frequent check on their employees’ browsing behaviors. They can consider setting browser restrictions on the devices to protect their confidential data against any kind of security incidents. Even purpose-built devices can be protected against misuse or unintentional data breaches with the help of Kiosk Lockdown Solutions.   

Conclusion

Actually, privacy is a prerequisite while online. It’s not a need. 

Data breaches and security incidents are real and very frequent today. Governments across the globe are banning applications and browsers in bulk that pose a probable risk to the data and security of their citizens and enterprises. As a business, you can secure your sensitive corporate data by choosing an extensive MDM solution for your remote devices and endpoints. This will be a full-proof prevention strategy, and eventually a cure too!