Data has become the most valuable business asset in today’s digital era, resulting in a surge in cybersecurity threats.
Neglecting data protection can result in data breaches, which can cause your organization to suffer financial losses. It may also lead to legal action against your company for failing to safeguard client and employee personal information.
Failure to keep valuable business data safe can cause data loss, which can take a considerable amount of money and time to restore. During this time, your company may experience operational downtime, leading to a loss of revenue.
Business data security is critical as it protects you from the effects of cyber insecurity. Discussed below are four ways to protect valuable business data in 2024.
1. Use managed IT services
Managed IT solutions are outsourced services that can provide your organization with round-the-clock maintenance and monitoring while rendering support for your IT infrastructure. They implement in-depth security protocols like firewalls and access restrictions to protect valuable business data from:
- Cyberattacks
- Unwanted access
- Breaches
An IT management service gives your business access to the newest security tools, technology, and best practices. The solution also ensures your systems are consistently secure and up-to-date by providing regular:
- Updates
- Data backups
- Security patches
- Data protection audits
2. Invest in employee cybersecurity awareness training
Your employees are your business’s front line. Some studies suggest that 88% of data breach incidents are due to employee errors, while others say 95%. Since your staff are the weakest IT security link, ensuring they’re well-trained is vital in:
- Protecting sensitive data
- Developing a data security awareness culture
- Preventing breaches
Cyberattackers usually target unsuspecting staff members via social engineering strategies, phishing emails, and other tactics.
Employee cybersecurity awareness training equips your staff with the skills and knowledge they require to identify these tricks and respond promptly and appropriately. This minimizes the possibility of successful attacks.
The training also enables your staff to understand potential cybersecurity threats and how to spot and avoid them. It ascertains that businesses are safeguarded against data breaches and cyberattacks.
3. Use a firewall
A firewall is a major component when it comes to preventing cyberattacks. It safeguards valuable business data by:
- Protecting against hackers: Firewalls scan incoming traffic and warn you of the threats that come with downloading new applications or clicking on links from unknown sources
- Limiting bandwidth use: Firewalls can be configured to restrict the bandwidth amount used for specific services or applications on the internet.
- Monitoring incoming and outgoing traffic: Firewalls create a border between your business’s private network and external networks. Every data packet exiting or entering your network is scrutinized and examined against pre-configured rules
4. Ensure regular data backups
Backup involves making a copy of your data and then using it for recovery in the event the original data is deleted, lost, or stolen. Regularly backing up your valuable business data enables your organization to recover lost information quickly if the system malfunctions.
It facilitates disaster recovery, reducing the risk of downtime and potential losses in revenue. Besides protecting against cyber attacks, regular data backups also safeguard against disruptive incidents such as:
- Power outages
- Malicious insiders
- Ransomware infections
- Hardware failures
- Weather events
- Malware attacks and more
Endnote
Data is vital for the smooth running of your business. Failure to safeguard business data increases the risk of cybersecurity threats, which can be detrimental to your company. Consider implementing these tips to protect valuable business data in 2024.
