What is the Importance of Data Security?

Data Security and its importance

The term data security and its importance infers to a set of measures, which are in put in place to safeguard data (both private and business) against unauthorized access. Data security also covers data loss or corruption all through the data lifecycle. This may include when data is irremediably lost through user negligence, through viruses, through malware or even through malicious cyberattacks.  In the last regard, hackers are becoming alarmingly adept at carrying out successful cyberattacks on private individuals and business organizations.  These infamous infiltrations and breaches have been the order of the day as more and more victims experience them.

 To this end, no company, despite its size should downplay the necessity to implement data security measures in its day to day operations.  As such, data security can play an essential role in ensuring your company’s sensitive data is protected at all times. Your business’ information happens to be one of its most precious assets. By setting up an effective and ironclad data security and its importance in your organization, you will be in a better position to safeguard your sensitive data out of reach from your competition. It will as well make sure you can uphold data integrity and facilitate for hassle-free access of your company’s confidential data whenever and wherever necessary to streamline your core business functions. 

There is a number of adverse consequences that can accompany data breaches incidents for business enterprises.  In the first place, such occurrences are well known to destroy the reputation of the affected organization.   When your business fails to protect your customers’ sensitive data, they will invariably lose trust in it and opt to do business with a company which can do so. In its turn, this might negatively influence your firm’s revenue generation operations and even the ability to make new business. On the other hand, your business could definitely attract punitive measures from regulatory agencies and even the government. As a point of reference, the average American data breach in 2017 cost $7.35 million according to findings by a Ponemon Institute study. This sum covers legal fees, punitive fines, auditing services, repayments to clients together with other fiscal losses. 

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Also, data breaches may give rise to job losses to the individuals or teams, which are held responsible for them. This can result in your business losing some of its best talent, particularly those who hold senior positions. As you can evidently see, there are numerous reasons why it is sound judgment to take data security and its importance as a business owner seriously. Here then are some of the most notable reasons why investing on data security from an IT support provider like IT Support Fort Lauderdale is always important for business organizations.

Data security guarantees business continuity 

Today, most businesses can’t carry out many of their core operations without data or managed IT services. This is simply because data has, over the passage of time, evolved into a critical asset that substantially influences business functions and decision-making.  So, it must be protected at all costs against disasters such as data breaches, system failures or even natural disasters that happen at your business premises.  All these unfortunate occurrences have the potential to render your company day to day operations paralyzed and incapable of functioning as required. Data security will make sure regular backups of your business data are made and can be accessible if the original information is lost or rendered inaccessible in one way of the other.  This goes a long way in guaranteeing business continuity.

Data security can minimize data breaches

All companies have the responsibility to do its due diligence in the particular context of both their customers and employees records and even transactions.  Data breaches have been known to trigger a variety of adverse repercussions to business organizations. This may include fiscal losses, loss of consumer trust, damaged brand reputation and adverse impacts on future revenue generation and profitability.  They might as well attract legal or regulatory fines.  

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Data security will thwart unauthorized access of your business’ confidential data 

Now more than ever, hackers are increasingly becoming adroit in infiltration and intercepting business data. Ideally, if you have placed a lackluster emphasis on data security in your company’s core functions, you will be in fact be opening the door wide for hackers. By integrating multiple layers of data security, you will be able to thwart any unauthorized attempts to access your business networks and systems. In most cases than not, this can prove sufficient in protecting your data from diverse attacks. This includes DoS attacks, direct access attacks, virus attempts, malware attacks, backdoor attacks and so on. Sadly, most business owners erroneously hold the belief that hackers only target big and established organizations since they often offer potentially big payoffs. However, the reality is that hackers routinely prey on SMEs as their systems and networks are usually much easier and stress-free to infiltrate. Therefore, you should always have the foresight to put in place an efficient data security regardless of the exact size of your business.

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