Data storage security is crucial for businesses to maintain continuity, prevent breaches, and comply with regulations. By implementing data storage security best practices, organizations can fortify their data storage security and mitigate the risks associated with data storage.
This article discusses the best practices for companies to ensure their data storage security.
According to the report Big Data – statistics & facts by Statista
The security of this data is a critical issue for enterprises. Data storage security comprises securing various data storage resources and data stored on them. This includes the data stored in both on-premises and external data centers and the cloud. The firms should protect the data from deliberate and accidental damage and illegal uses and users.
Various compliance regulations mandate well-designed data security. These regulations include the EU’s General Data Protection Regulation (GDPR) and PCI-DSS.
These compliances add legal weight to data storage security demands.
Before discussing the best practices for firms to ensure data storage security, let us see the significance of data storage security for firms.
Significance of Data Storage Security for Firms
Most breaches in enterprises are due to various failures in data storage security. Data storage security is essential for organizations that deal with sensitive data.
Good data storage security minimizes the risk of firms suffering unauthorized disclosure of data, data theft, and accidental corruption or destruction. It also helps them ensure data authenticity, accountability, and legal and regulatory compliance.
Data storage security is important for firms because it helps to:
- Maintain business continuity
- Prevent data breaches
- Keep illegal access at bay
- Protect customer and user data from being lost or stolen
- Prevent the reputational risk that accompanies a data breach
- Guard against insider threats and human error
- Ensure uninterrupted operations
- Ensure compliance with specific regulations or auditing requirements
A well-devised data storage security strategy ensures all applicable compliance requirements are in place. It also ensures that security measures have been implemented to deal with any risk.
Firms store data in various formats, from on-premises systems to the cloud. It spans different time zones and even international borders. Due to this increased complexity in securing and managing data, the risk of data breaches also increases.
The stakes couldn’t be higher when it comes to data breaches. According to the report, Soaring to New Heights: Global Average Cost of a Data Breach Reaches $4.35 Million by ASIS, the average cost of a data breach was USD 4.35 million in 2022.
It was up by 13 percent in two years.
This means there is no time to waste if your company’s data storage security posture is weak. The after-effects of data breaches can be costly and catastrophic.
So, here are some of the best data storage security practices companies must implement.
Data Storage Security Best Practices for Firms
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Manage User Access Privileges
Enterprises should create detailed access policies to ensure proper control of user privileges.
The “principle of least privilege” means each user should get access to only the data they need to do their job. Also, companies should regularly audit access levels to ensure that no one has more privileges than necessary.
Most of the firms have a combination of two access control types:
RBAC (Role-Based Access Control)– Access is given to users based on their role in the firm.
ABAC (Attribute-Based Access Control) – Access is provided to users based on user features such as department, location, and job title.
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Enforce Multi-Factor Authentication
According to the report, Password Danger is Escalating with No Ceiling in Sight by ID Agent
One effective way to improve access points’ security is Using Multi-Factor Authentication (MFA). With MFA, users must present two or more pieces of evidence to get into a system. This can comprise a password and a one-time email or SMS code.
Firms can significantly boost data storage security and reduce the chances of cyberattacks by implementing MFA across all access points. Moreover, for particularly sensitive data, enterprises can consider setting up various additional measures such as biometrics.
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Monitor Network Activity
Firms have to monitor the network traffic for different suspicious activities. They should also consider establishing a process for investigation when needed. This comprises analyzing user access patterns, looking out for unusual data flows, and monitoring for changes in user behavior.
This can also involve regularly scanning for vulnerabilities and patching them actively to prevent threat actors from exploiting weak points. This approach is a proactive data storage security strategy for all companies.
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Add Security Layers to Cloud-Based Solutions
Due to low-cost collaborations, many companies are turning to various cloud-based platforms such as Google Drive, Dropbox, and AWS. But, these platforms can bring in data storage security risks as they are ephemeral by nature.
In the case of cloud storage, tracking who can access, download, and share its content can be challenging. If the companies are currently using or planning to use cloud-based solutions, they can improve security by:
- Setting limits for viewing, printing, downloading, and sharing
- Adding content controls like watermarks
- Preventing sharing and taking screenshots
- Adding tracking to gather analytics on documents
Also Read: Key Enterprise Data Protection Strategies for Businesses
Summing Up
Keeping data safe is important for businesses. It helps them stay working, stops fraud people from getting information, and follows the rules.
To do this, companies should control who can see what data. Passwords must be strong, and extra protection should be added for data storage security processes.
The world makes a lot of data; it can be a huge cost if unsafe. So, businesses need to act fast and use data storage security best practices. Doing these things ensures their information stays safe and they don’t have big problems.
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