Data is the new gold. Modern businesses can simply crumble because of inadequate data protection policies and infrastructure. A study by Phenome Institute sponsored by IBM projected that the global cost of a data breach reached a record high in 2022 and amounted to $4.35 million. Businesses with weak or no data protection plans are expected to be hit even more as cybercriminals get smarter and technology advances.
However, to save your business from being another statistic, here are the top 10 data protection solutions you need to consider.
Encryption refers to the encoding of readable information such that only the owner or intended recipient can access and read it. The benefit of encryption is to prevent unauthorized people from bypassing your data. Therefore, if your data is stolen or lands in the wrong hands, it will be impossible for the person to extract any information. Social media platforms, for example, have used encryption to avoid the illegal reading of your texts by third parties.
- Backup and Recovery
Backup and recovery is another essential method of data protection for your business. A backup is a copy of your data that is saved and stored and can be recovered in case of a data loss or breach. You can perform data recovery using software like DiskDrill to retrieve data from storage devices. Backup and recovery can help save your business a lot of money, for example, when your data is hit with ransomware or when very valuable data is lost, stolen, or damaged.
- Physical Security
To protect your business’s valuable data, you have to start with the basics. You may need to have professionally trained cyber security personnel on your premises to help with data protection. Also, data can easily be lost through a break-in to your business premises to steal devices like laptops and USB drives. To ensure this doesn’t happen, you may need to secure your location by always locking your workstation or hiring a guard. You can use PhoneHistory to find more information on professional security guards for an all-around secure workplace.
Also, access control mechanisms like the use of biometrics should be used to enhance physical security. Passwords should always be hidden and not shared, for example, on sticky notes attached to the computer.
You will rarely find a computer without antivirus software in modern workplaces, so you should not take chances too. Antivirus software is so common in business because it automatically runs real-time diagnostics of your data and alerts you if it finds any malicious files. An antivirus can save you from attacks sent through email, in USB and hard drives, and from compromised websites.
A firewall is a network security mechanism that monitors traffic to and from your private network. It blocks unwanted or unauthorized access with the help of pre-configured rules. Firewalls are among the most effective data protection methods because they lock out external and internal unauthorized access.
If your business has valuable trade secrets, which are your intellectual property, using a firewall to protect that data from your competitors or cybercriminals is highly recommended. A firewall can also safeguard other important documents like contracts and non-disclosure agreements.
- Cloud Computing
Cloud computing involves using software and services like data storage on the internet instead of locally on your computer. The use of the cloud helps you protect your data from physical breaches. For example, a criminal can easily destroy or steal data stored in a USB drive. With cloud backup, however, there is the advantage of encryption and granular permission that can deny unauthorized access to this data. Also, if your business is data-intensive, the cloud provides a lot of storage space, which means you have enough room for all your valuable data.
- Multi-Factor Authentication
Multifactor authentication is a security measure that requires you to have more than one verifiable factor or proof of identity to access systems. There are three factors in multi-factor authentication:
- Knowledge- something you know
- Possession- what you have
- Inherence- something you are
Multi-Factor authentication adds an extra layer of security, thus making it difficult to gain access to your data without authorization. If a person illegally obtains your primary login credentials, it will be difficult for them to bypass the next layers of the authentication system.
- AI Solutions
Artificial intelligence (AI) is the simulation of human intelligence by computer systems to solve problems. Through machine learning and deep learning, an AI tool can analyze and detect suspicious data patterns and alert you as a business owner. The advantage of using AI is that it is automated and can handle multiple datasets to detect a data breach quickly. Also, AI can help analyze your business’s past attacks to identify patterns to predict future risks and help avoid them.
- Data Destruction
Data destruction is a straightforward but very important method of data protection. It entails destroying sensitive data found in hard drives, tapes, and other storage devices to prevent unauthorized access to your data. There are three main methods of data destruction:
- Overwriting- the process of replacing existing data with new data
- Degaussing- permanently erasing data from a device
- Physical destruction- destroying tapes, CDs, and USBs to the point that they cannot be used by ensuring their mechanical structure is deformed.
Data destruction helps you rest easily even without other data protection solutions because sensitive data is completely wiped out.
- Access Control
Access control is a process that determines who can access your data. Without access control, your business is at risk of data compromise. Worst, you risk losing money through ransomware attacks and data corruption. Subsequently, it is impossible to ensure accountability during a crisis if it is impossible to determine who has permission to access what is in your database.
Data protection is essential to any business dealing with sensitive and valuable data. However, just one data protection solution isn’t enough to fully secure your data. Therefore, to ensure that your data is not prone to breaches, you may need to combine several of the solutions above.