It goes without saying, data is vital for business and so is data security. Adopting specific measures, controls, and policies to prevent unauthorized access, accidental loss, theft, or corruption of data throughout its entire lifecycle is known as data security.
Digital data is often subjected to threats from cybercriminals, system failures, human errors, and natural calamities. Proper implementation of data security strategies is essential for the protection of an organization’s information assets.
According to 92% of consumers, companies must be proactive about data protection. Data security is also a vital part of the customer experience.
With rapid digital transformation, the amount of data being stored and managed has increased exponentially. Every corporate, regardless of its size, depends on data to various levels.
Historical data can be a treasure for predicting future trends. On the other hand, the current data works as the backbone for the evaluation and optimization of crucial business processes. Today’s businesses compete fiercely over data assets. Even a minor data breach can affect any business severely, leading to permanent damage.
The basic concept of data security is based on three primary aspects – also known as the CIA triad. These elements help organizations to model their data security strategies effectively. This is necessary to ensure maximum protection of sensitive information. The elements are,
Loss of valuable data or unauthorized data disclosure can cost any business dearly. The key benefits of data security cover,
All data security methods aim to preserve privacy and prevent loss or corruption of data. The best data security methods will ensure data protection without compromising data integrity or availability.
For encryption, an algorithm is used to convert normal text characters or numbers into a format that is not readable by humans. The encrypted text needs to be decrypted with an authorization key to make it readable. This method works efficiently as a final line of protection for sensitive data.
Completely erasing data when it is no longer needed by a certain user or has been moved to a safer repository is vital for data security. Data erasure uses software for overwriting the old data from the storage and is much more effective than normal data wiping.
Limiting access to digital assets can help with data integrity and data leak. The latest business applications encapsulate advanced access management options to ensure better security. Monitoring end-point access of the connected devices is important for data protection.
Data masking is an efficient process to secure sensitive data without limiting availability. The process uses software for masking specific fields of identifiable information. This generalizes the data, eliminating security risks.
A comprehensive, organization-wide data security strategy can help to prevent the leakage of sensitive information. The strategy should cover the following,
To ensure data protection in business, the government and legislative authorities have designed specific regulations. These regulations focus on different industries and include data security as a major compliance requirement. Let’s take a brief look into the data security requirements under these popular regulations.
HIPAA was passed to regulate the health insurance industry. An organization needs to adopt certain data security processes to meet HIPAA compliance. Continually monitoring the access and activity of sensitive files and controlling file access through authorization is needed. In addition, keeping a written record of all user objects within the file is also a crucial aspect of the act.
This regulation specifically focuses on the protection of the personal data of EU citizens. For GDPR compliance an organization should hold accurate information on where the data is stored. This is critical to protect the data and also to fulfill any alteration or deletion requests. Some other security requirements are limiting data retention, continuous monitoring of data, and reporting any discovery of a data breach within 72 hours.
And that, in a nutshell, is Data Security. It is the foundation of what we do here at Accountable. We exist to help companies take the steps necessary to ensure the security and privacy of all data that they handle, store, or transmit. If you are looking to become HIPAA or GDPR compliant, or just want to take broad steps in your data security operations, we can help you with that, today.