The modern cybersecurity landscape has evolved tremendously, and cybercriminals have started targeting data as one of their most lucrative revenue-generating models. Security data breaches have grown sophisticated and high profile, having a tremendous impact on business operations.
According to a recent report by IBM titled “Cost of a data breach 2022,” the average cost of a data breach was USD 9.44 million in the United States. Businesses that become a victim of a full-blown data breach will have a disastrous impact on the brand image and might have legal implications. CDOs and CISOs should work cohesively to strengthen their data security strategies to keep their data secure from various sophisticated threats and risks.
Following are a few ways that SecOps teams can consider making a cyber-resilient data security strategy
Maintain a Data Set Inventory
Modern enterprises generate data through multiple channels and are stored on various servers. It makes it difficult for businesses to keep track of where the data is stored and what governance mechanisms are enforced to secure the data. CDOs should consider designing and maintaining a data set inventory that keeps track of what datasets are stored where. These data set inventories help businesses to monitor the location server of data where it is stored and what threats and vulnerabilities it is exposed to, and what strategies can be enforced to keep the data secure when it is at rest.
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Look Out for Insider Threats
Many organizations focus on securing their sensitive data from threats and risks outside and tend to overlook insider threats that can have access to more information. Because it is very easy to visualize outside threats rather than identify insider threats. However, CISOs need to consider implementing strategies to identify and mitigate insider threats because such threats have the potential to cause more harm than threats outside the business network. Employees intentionally or unintentionally might expose the organization’s sensitive information to various cybersecurity threats and risks. Businesses need to create more awareness in the workforce about how unintentionally they can expose sensitive data to outside threats. Moreover, it is even essential to enforce strategies to identify and mitigate the threats within the business network to strengthen data security.
Data Encryption
Data encryption is one of the most effective ways to strengthen data protection strategies. CDOs should consider encrypting their data using complex frameworks to conceal and protect sensitive business information. In order to ensure success, businesses need to effectively encrypt their sensitive data in a way that makes it impossible for malicious actors to decrypt the data.
There are multiple data encryption tools available in the market that can be integrated into the data tech stack to strengthen the security of sensitive information.
Enterprises that do not encrypt their sensitive data will increase the chances of data leaks or enable access to the unauthorized user. The reason data encryption is one of the most effective ways to protect sensitive business data is that it keeps the data secure even when it is stolen.
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Data Segmentation
Another way to strengthen the data security policies throughout the organization is by segmenting the data. CDOs can consider data segmentation as a process to separate the entire data into more subsets. Data segmentation is an effective way that split sensitive information into decentralized assets. This process will enable the SecOps teams to have fewer full-access opportunities. This approach also helps to strengthen the data privacy posture because in case of a data breach, only a partial amount of the data will be at risk and not the entire amount of data.
These are a few strategies that CDOs and CISOs can consider to strengthen their data privacy strategies and posture.
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