In this tech-driven age, data is the most valuable asset on the face of the earth. Companies and organizations rely on customer data and related digital information to operate effectively. Unlike conventional methods, large volumes of data are now accessed and stored in physical servers or over the cloud.
Although technology has significantly improved the efficiency of workplaces, imminent threats like cyberattacks, ransomware, data theft, and malware attacks are always lurking around. Having unbreachable database security is imperative to maintain the integrity of an organization. Here are some proven database protection tips straight from industry leaders that will make sure the data you work with does not fall into the wrong hands.
Avoiding Financial Loss
The ultimate goal of any business is to grow without facing financial loss. Without the required security, your business will become an easy target for cybercriminals. This stolen data is either sieved further to obtain personal information like bank account details, credit card numbers, and much more.
A data breach can lead to an irreparable financial loss in terms of losing customers, their credibility as a business, and potentially facing lawsuits. The business would also face regulatory penalties as it is necessary for an organization to comply with these regulations. They might also need to invest in a data protection solution afterward if they want the business to bounce back.
Loss of Credibility
Building credibility among customers and clients takes time, dedication, and persistence. Failing to implement the required data safety protocols can significantly damage credibility. Even if you are fortunate enough not to face an attack, still not implementing the necessary data security framework invokes mistrust. Customers can only entrust you with their personal information and data when you have the right security tools.
This loss of trust is hard to regain and can result in the business losing customers. The negative experience customers share will turn away potential leads and make them look for businesses with a better reputation for protecting the sensitive information of their customers.
The biggest reason to invest in database protection is to fulfill regulatory requirements and the need to protect sensitive data. Opting for database disaster recovery services is another way of securing your valuable data.
These services maintain a standby database in real-time, making sure you have access to your data without compromising the workflow and provision of services. The information provided here at Dbvisit can assist in better understanding how this data protection service works. In a nutshell, these services are capable of recovering data from corrupted or compromised physical drives or related storage mediums.
As mentioned earlier, most services also offer a sophisticated backup service in case you encounter an event prohibiting you from accessing the database. Data protection services are an effective choice for organizations working back and forth with sensitive data.
After a business faces a security breach, most work-related operations come to a halt, resulting in operational downtime. In case of an event like this, the organization has to act immediately to contain the breach. Further investigation is then carried out by the organization to figure out how the cyberattack occurred and the amount of affected data. Until the investigation is complete, the business will keep facing downtime. In severe cases, this downtime results in financial loss, a decrease in customer base, and even leads to circumstances that can shut down the business.
Data breaches and related cyberattacks cause loss of data. The stolen data can be used in a lot of ways to further inflict damage. Personal user data and sensitive information is extracted from the stolen data pool and used to commit fraudulent activities. Some companies and organizations contain biometric data, financial information, and medical records.
These specialized data sources are also targeted by hackers. Let’s say a 100-bed hospital is providing patient care facilities. They rely on their database to provide the necessary care and treatment as details like their diagnosis, their care routine, and treatment regimes are all logged there. Without the required data security protocols, the database can be compromised leading to disastrous outcomes.
Protecting data for a business is a consistent endeavor. Besides working on improving data security protocols, there are several data protection strategies you can implement for better results. Businesses can implement data protection policies, maintain data backups, and use data encryption services to name a few. Out of all the data protection strategies, training your employees and equipping them with the right information can significantly aid in mitigating cyberattacks and improving business outcomes.