subject: Why Should Companies Invest In Data Protection Solutions? [print this page] Every business organization is accountable for the loss of its private and confidential data and takes effective measures to safeguard it. The Data Protection Act (DPA) has been enforced in order to ensure that sensitive data does not fall prey to malicious hackers resulting in identity theft and other fraudulent activities. Advancements in internet technology have paved the path for third party intruders to target corporate and individual data through malware and Phishing attacks. Hence, it's not just enough to ensure that the sensitive data is not vulnerable by installing a standard anti-virus program.
Failure to manage security of private business data is considered an offense today. It might even result in prosecution and claims for the damages as per the DPA. The Information Commissioner's Office (ICO) has the authority to introduce exorbitant fines that go up to 500,000 for any data thefts and security breaches of the DPA. This apart, it affects the company reputation and consumer goodwill that might take a long time to retrieve.
It is essential to bear in mind that not every data theft is a result of external attacks schemed by hackers. There are cases where internal employees are involved in fraudulent activities by stealing confidential information. Also there can be other factors such as system malfunctioning, virus attacks and other natural calamities.
Keeping all this aspects in mind companies specializing in risk management frameworks has introduced advanced data protection solutions that function in the following three phases:
Designing and Strategy
This first phase focuses on assessing your data security needs and arrives at an effective data classification strategy. After this the critical data are analyzed depending on multiple aspects like those that how it is used, shared, who owns it and the like. Based on this analysis a systematized data protection framework is designed
Control and Integration
The second phase helps you to execute innovative security and data protection technologies, for instance data leakage prevention, information/ digital rights management and other encryption tools.
Sustenance and Optimization
The third phase enables you to optimize and fine tune the technology execution for bringing down the KPI reportings, false positives, and executing a robust incident and consequence management framework for end-to-end vigilance.
Be it new business development plans or employee email ids, data is the life-force of every organization. Apart from brand erosion it disrupts the everyday workflow with vital information missing. Hence, in order to stay secure from these negative impacts it is essential to invest in an advanced data protection solution.
