Data is the most valuable thing a business can have in the modern day.
Whether it’s the data you’re collecting about your company and processes, or the information that helps you make crucial decisions about your future, there’s nothing more precious. As the world continues to embrace advanced technologies, like artificial intelligence and big data analytics, many companies are starting to recognise just how valuable their data is.
However, there are still countless organisations out there with no idea of how to prevent data loss or keep their information safe. Since 2012 (only 7 years ago) data loss has increased by over 400%. Every year criminals come up with newer, more advanced ways to access valuable information.
It’s time to make sure you have the right strategy for the prevention of data loss in place.
Fortunately, all you need to do is follow these five simple steps.
1. Back your data up every day
Currently, less than 10% of firms say that they back their data up on a daily basis. This includes information taken from conversations with customers, analytical information, and even business projects. However, if you’re not backing your data up automatically, then you risk losing valuable resources, time, and energy to recreate any of the work that you lose.
An automatic system that backs your data up consistently onto the cloud is the easiest way to make sure that you always have access to the latest version of your information. In a world where 1MB of data is worth approximately £5,000, backing up is basically like putting a lock on your company’s value.
2. Understand that threats can come from inside
If you want to know how to prevent data loss, then you’ll need to understand that issues can happen internally, as well as externally. A lot of companies assume that they need to invest all of their time and money into protecting against malware and ransomware attacks. However, while cybercriminals do present a significant threat to the data landscape, there’s always a risk that your employees could be the cause of data loss too.
A lack of proper training and monitoring can mean that team members accidentally delete or damage data that are crucial to your company. Making sure that your staff know how to regularly back up and protect their information is one of the best ways to protect yourself from an unintentional disaster.
3. Don’t rely exclusively on hardware
Another thing that you need to keep in mind is that hardware isn’t necessarily the best solution for the prevention of data loss anymore. Keeping your information backed up on a physical server or system might seem like a good idea at first, but all technology can fail eventually. That’s why it’s so important to have multiple backups of your most valuable information, both offline, and online.
Storing your data in the cloud ensures that you can access an additional copy of the details you need, even if your entire data server was to break down all of a sudden. Most specialists in the prevention of data loss suggest that the best thing you can do is have three copies of your data available to you at all times. One of the copies may be on the cloud, one might be on a computer, and the other may be stored in a separate data centre, miles away from where your business is located.
4. Manage identities
The latest research by leading technology company, Verizon, suggests that around 80% of all data breaches are caused by problems with compromised credentials. For today’s business leaders, this means that it’s essential to develop a holistic view of what’s going on with your team members and ensure that you have a strong password policy in place. This can be particularly valuable if you’re using mobile devices that could easily be lost or stolen in your workplace.
Multi-factor authentication is one of the easiest ways to enhance identity management in the modern world. Here at Nice Network, we support SOTI MobiControl with biometric and two-factor authentication as part of all of our mobile device management solutions. MFA ensures that your valuable data remains safeguarded, even on mobile or remote devices.
5. Evolve and update
Finally, as businesses of all sizes continue to recognise the value of data, and cyber criminals grow more intelligent, new tools for privacy and information protection will continue to emerge. Implementing the right strategy to prevent data loss isn’t a one-time thing. Instead, you’ll need to be willing to continually evaluate the marketplace, invest in new tools, and make the most of the solutions available in your market.
It’s also essential to ensure that whatever new tools you use for the prevention of data loss are compliant with new regulations as they appear, from PCI and HIPAA to GDPR.