Data is the lifeblood of any business, allowing it to function efficiently and profitably. Businesses must balance the need to have a lot of data and the need to secure and protect customer information. The latter point is driven by the new and constantly evolving privacy regulations, like California’s GDPR and Europe’s CCPA and long-standing laws such as the Health Insurance Portability and Accountability Act (HIPAA), Securities and Exchange Commission rules protecting shareholders’ financial information and the Payment Card Industry Data Security Standard for payment information of consumers.
To ensure data protection the first step is to record every single piece of data you have and then secure it. This involves identifying, categorizing and determining the access levels for your data based on its sensitiveness. It is also important to establish a procedure that ensures data protection, regardless of whether it is in motion or in a state of rest. Using a software solution to detect and monitor activity in your files and spot anomalous patterns will help you detect suspicious activity and quickly identify weaknesses like out-of-date or incorrectly configured software.
A comprehensive backup and recovery plan that includes physical storage media is essential. And lastly it is vital to ensure that you have a solid system of security, from background checks for prospective hires to periodic training sessions for existing employees, to removing employees who no longer require access to critical systems. It’s also important to establish a plan of recovery in the event of an natural disaster or man-made one.
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