The Importance of Data Security in 2021
Updated on 29th Sep, 21 10 Views

Data Security refers to a set of procedures and policies that safeguard essential information. So, it becomes crucial to understand its significance. Let us take a look at the contents of this all-inclusive blog.

 

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What is Data Security?

Data Security safeguards digital data from unwanted access, corruption, or theft. It is a notion that imparts physical security to hardware and software devices and covers all aspects of information security. It also imparts administrative and access controls and logical security to software applications. It also covers policies and procedures to be followed by a company.

 

Why is Data Security important?

Data is a valuable asset that generates, acquires, saves, and exchanges for any company. Protecting it from internal or external corruption and illegal access protects a company from financial loss, reputational harm, consumer trust degradation, and brand erosion. Furthermore, regulations for securing data, imposed by the government and the industry, make it critical for a company to achieve and maintain compliance wherever it does business.

 

Main elements of Data Security

The three components of Data Security that all companies should adhere to are confidentiality, integrity, and availability. The CIA triad is a security paradigm and framework for the protection of data. Here is what each fundamental piece implies in terms of preventing unwanted access and data exfiltration.

  • Confidentiality: Ensures that only authorized users, with appropriate credentials, have access to data.
  • Integrity: Ensures that all data is accurate, trustworthy, and not prone to unjustified changes.
  • Availability: Ensures that data is accessible and available for ongoing business needs in a timely and secure manner.

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Aftermath of Data Breach

The immediate effects of a data breach are less known, yet they may be costly to a business. In the aftermath of a data breach, companies often face a slew of immediate financial consequences. A data breach may result in penalties from the Payment Card Industry Security Standards Council. An additional fine may be imposed by regulatory authorities and card network brands, depending on the circumstances.

Forensic investigations are a type of forensic inquiry. One of the implications of a data breach is that a company is accountable for conducting a forensic investigation to establish the cause of the data breach. These investigations frequently produce evidence and insights that might aid in the prevention of future data breaches.

Businesses that suffer a data breach may have to pay for credit monitoring for consumers whose information has been exposed. Remediation activities have to be done, which include card replacement costs, identity theft repair, and more compliance requirements. Hence, the importance of data security is clear. 

 

Types Of Data Security Controls

data security controls

The below-mentioned control measures have to be followed for securing data and avoiding data breach.

  • Access Control
    Limiting both physical and digital access to central systems and data is an example of a strategy for securing data. It involves ensuring that all computers and gadgets are password-protected and that physical places are only accessible to authorized employees.
  • Authentication
    Provide authentication measures, such as access restrictions and correct identification of people, before giving access to data. Passwords, PINs, security tokens, swipe cards, and biometrics are common examples.
  • Backups and Disaster Recovery
    Good security means you have a strategy in place to safely access data in case of a system failure, disaster, data corruption, or breach. To restore, you will need a backup data copy kept on a distinct format such as a hard drive, local network, or Cloud.
  • Data Erasure
    Appropriate discarding of data regularly is necessary. Data erasure is more secure than ordinary data wiping since data erasure uses software to wipe data completely on any storage device. Data erasure ensures that data cannot be recovered and, hence, will not fall into the wrong hands.
  • Data Masking
    Data masking software obscures letters and numbers with proxy characters, concealing information. Even if a person obtains access to data illegally, it is successfully masked. Only when an authorized user acquires data, then does it revert back to its original state.
  • Data Resilience
    With comprehensive security, you can withstand or recover from failures. Avoid power outages and mitigate natural catastrophes as these factors can breach data protection. Data security can be implemented by incorporating resilience into your hardware and software.
  • Encryption
    With the help of encryption keys, a computer algorithm converts text characters into an unreadable format. The content can only be unlocked and accessed by authorized people who have the appropriate keys. To some extent, everything from files and databases to email conversations should be secured.

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Importance of Data Security For Businesses

Let us understand how an organization complies with Data Security and the importance of data security in this area. Data Security refers to the protections put in place to secure databases, websites, and computers against unwanted access. This procedure also includes safeguards against data loss or corruption. Small firms and large enterprises should implement protection measures to secure data. Failure to have an effective information security plan in place can have severe repercussions for companies. The following are some of the reasons why data security is critical:

  • To maintain business continuity
  • To prevent data breach
  • To keep illegal access at bay

Salesforce Data Security Salesforce.com makes use of some of the most cutting-edge internet security solutions available today. Secure Socket Layer (SSL) technology secures your information utilizing both server authentication and data encryption.

Data Security in DBMS – A database management system ensures data protection and privacy by ensuring that only authorized users have access to the database and by performing permission checks whenever sensitive data is accessed.

In recent times, securing data has become increasingly important. Everyone needs data protection in their personal lives. Every company has large amounts of data in their database that must be protected. Any compromise of the information will harm the company severely. It is aptly said, “Data is the new oil.” Data is the most crucial aspect for any company. As a result, companies are prepared to use strong security at significant cost for Data Security.

Data Security has become a buzzword, as everyone prioritizes safety. It sums up the significance of securing data in everyday life. A company is in danger, if its data is not secured. So, to manage a long-term business, you must understand the necessity of protecting data.

 

Data Security More Important Now

The quantity of data transiting the network via Cloud and data centre settings has risen exponentially. Hence, Cloud Data Security and data centre security come into picture here. According to the Economist, we are currently living in the “zettabyte age.” For the amount of traffic being generated, the most suitable step is to manage and safeguard the transfer of sensitive or personal information at every known location. Both proactive enterprises and global regulators are progressing significantly. The following are the most likely reasons why securing data is even more essential now:

  • Cyberattacks harm everyone.
  • Rapid technical advancements will increase cyberattacks.
  • Increased laws and regulations may be enacted as a result of cyber concerns.

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Data Security—Best Practices

The following five suggestions will help you on your way to regulatory compliance, regardless of the framework you choose to use.

  • Validate gathered data:  Depending on the compliance regulations that they are subject to, companies may be obliged to safeguard cardholder information (PCI DSS,) health records (HIPAA,) PII of EU residents (GDPR,) or other data. Data discovery and categorization tools can help you to find regulated data to protect the above-mentioned cardholder information with appropriate security measures.
  • Examine danger levels regularly: Many compliance laws require you to do regular risk assessments. Risk assessment is nothing but to
    • Identify hazards.
    • Estimate the likelihood of occurrence and the possible impact of hazards.
    • Implement measures to mitigate the most significant risks.
    • Evaluate the success of the implemented measures.
  • Make a well-thought-out strategy: Most rules call for a mix of administrative, physical, and technical controls including policies and processes, staff training, and IT security. To successfully manage all this, you will need a solid strategy. Use existing checklists to determine where your company stands, and consider starting with a standard framework when creating a Data Security strategy.
  • Read a little more: There are several resources accessible to assist in the comprehension of rules. For example, the UK’s Information Commissioner’s Office (ICO) has created a thorough handbook that addresses the most frequent GDPR queries.
  • Ask for help: If you have more questions than answers and your company lacks an internal compliance officer, consider hiring external advisors who are familiar with the rules that apply to your company. Professional guidance may assist you in quickly and efficiently adjusting your information security programme, saving you money in the long run.

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Conclusion

Data Security is now a must-have, and the importance of data security is increasing day by day, hence the financial investments that your company is willing to make should reflect that. Your investment must be comprehensive and continuous throughout. You must provide protection and the best guidance and training for your employees. One error is sufficient to bring down an entire network. To avoid this, keep your employees trained. It is easier to perceive tighter data restrictions as a means to protect your business. Your team will be limited to providing services to clients if there is no access to significant insights of data. And for learning more about Data Security, go to our website and enroll in cyber security course certifications now!

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