Data is one of the most important assets of any organization. Cyberattacks and data breaches continue to rise which makes a sound security strategy for data more crucial than ever. A solid data security policy protects data from unauthorised access, which could cause catastrophic consequences such as expensive recovery and forensic costs, lost productivity as well as compliance fines, reputational damage, and permanent loss of customer trust.
A solid data policy will incorporate best practices, for example encryption to safeguard sensitive data in transit and at rest. It will also include user authentication, authorization and access management. It also includes the monitoring of potential threats to the security, integrity, and accessibility of information.
Identifying and classifying information in accordance with its sensitivity is an additional aspect of data security, and helps organizations prioritize their security measures according. For example, low-sensitivity data can be shared with public, while high-sensitivity information should be restricted to a select group of users to avoid the possibility of catastrophic consequences should it be compromised or destroyed.
Data security is a major concern for organizations of all sizes around the world due to the increasing complexity and types of data safety number of cyberattacks and regulatory requirements like the EU’s General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA) and the Payment Card Industry Data Security Standard (PCI DSS). In addition to safeguarding customers from identity theft data security is a vital component of meeting legal compliance requirements for a particular sector or geographical region and is frequently required by local laws, state or national legislation.
