Enterprises deal with huge volumes of data for all their processes. As data has become a core asset for their businesses, it is important to have actionable data protection strategies. In addition, as the value of data increases, it will become an even bigger target for ransomware.
Data attracts many types of risks and threats that are recognizable. Data protection helps a lot by saving businesses from big losses. Enterprises that cannot protect their data face many challenges and consequences.
The good news is that data protection strategies can be efficiently enforced by using scalable and action-driven processes.
We’ll see here how strategies can keep all types of data secured. However, before that, let’s highlight the challenges businesses face to protect their data.
The Challenges of Data Security
Since enterprises today deal with unstructured and structured data, perhaps the biggest challenge with data protection will be data management. That also includes all tech collaborations, networks, infrastructure, and regulations.
In addition to this, there are other challenges enterprises face.
1. Growth of IoT:
The increasing proliferation of IoT devices adds to their data volume. Enterprises often overlook IoT security, making securing connected devices and networks challenging. That’s why these devices pose a severe threat to data security.
2. Complex computing environments:
Today, enterprise technology includes a complex public cloud, enterprise data center, edge devices, robots, and remote servers. This complexity creates a larger attack surface, making security more challenging.
3. Regulations and compliances for data security:
With increasing data privacy and security risks, new data privacy regulations are constantly enforced.
Enterprises face challenges if they are not updated about the latest data privacy regulations. And even when they cannot comply with such regulations as GDPR, HIPAA, and CCPA. These result in severe attacks and hacks, causing big losses to companies
In the case of a data protection strategy, the goal is to protect data from threats and damages, internal, and external.
A robust data protection strategy needs some definitive elements. They are as given below:
Elements to build robust data protection strategies
Data Risk Management:
Businesses need to manage high data risks efficiently. By knowing the potential risks and threats, companies can build a robust protection strategy to mitigate the risks.
Managing Data Lifecycle:
Establishing and managing the data lifecycle prepares a scalable framework for data management. It keeps all the records of data from creating to storing data under robust security layers. It is one of the core components of a data protection strategy.
Prevention of Data Loss:
Enterprises need to take steps to prevent data loss on priority while building data protection strategies. It ensures a recovery plan whenever any data loss or damage happens.
Data access management control
Data protection strategies should include managing and controlling all data access systems. Access and usage of data across a business determines how well the security system is. Regular audits and monitoring systems should actively work across data infrastructure.
Backup & recovery plans for data
Companies should keep around-the-clock backup system for their data. At the same time, a recovery plan should be in place to meet any breach or risk. These activities are key for disaster recovery (BCDR) initiatives.
These activities help to prevent attacks on network perimeters, cloud infrastructure, and internal networks. It includes perimeter security software and hardware, access management software, ransomware software, and antivirus software.
Data Protection Strategies to Implement
A complete data protection strategy includes action-driven processes, technologies, and stakeholders. It is of utmost importance to establish appropriate data-driven policies and deploy tools and controls that deal with protection.
Here are the steps to implementing a robust data protection strategy:
1. Security of servers and user devices:
Enterprises keep their data stored and secured in different locations. So, these should be secured with firewalls malware detectors or have fire suppression measures.
This step is important whether data storage is on-premises, in a public or private cloud, or servers. Servers should also have secured entry and exit points with access given to authorized users.
2. Network and endpoint security monitoring and controlling:
For this, security leaders should include threat management, detection, and response tools and platforms across on-premises environments and cloud platforms. They will help to alleviate risks and prevent breaches from happening.
3. Assessment methods for Internal and External Data Breach Risks:
For internal breach prevention, security teams should deploy strong passwords for servers, networks, cloud platforms, and all other online infrastructure.
They should also install strong user authentication, identity management tools, and biometrics.
Similarly, access controls should be for USBs, HDDs, and mobile devices to prevent external breaches and malicious attacks.
4. Implement Data encryption:
This strategy will allow companies to store and secure data with codes. Enterprises can build their encryption keys and secure data information with limited access.
Security leaders can use Hardware Security Modules (HSMs) to keep and manage encryption keys using a Key Management Solution.
5. Implement data masking:
This strategy includes protecting sensitive data. Data masking techniques include data character stuffing, tokenization, and data encryption. These help to run and use data without exposing the original data.
Enterprises can implement a data masking strategy to protect financial data like credit card details, bank statements, and other bills.
The best approach is to protect sensitive data. So, the techniques can make the data useless for hackers if there is a data breach.
6. Encryption of Applications:
It allows enterprises to encrypt granular data within application logic. It builds a strong security framework by using standard application cryptographic APIs.
The strategy helps secure emails, websites, servers, and mobile applications. Application-based encryption protects data against hacking of database and storage attacks.
Enterprises need to establish data protection strategies based on business needs and investments.
Also, the regular updates of software and platforms are critical for data safety. Depending on the level of security an enterprise needs, it is also critical when preparing data protection strategies.
However, as most companies are digitally transforming, data has become a core part that needs proper security and management. So, IT security leaders must implement strong strategies to protect their valuable data.
Today, as digital transformation is a critical step for growth for all enterprises, data security becomes even more critical. Data plays a crucial role in both revenue generation and brand reputation.
Companies cannot risk its protection. All possible steps need to be taken to ensure its safety.