We are back and in today’s blog post we take a quick dive in the importance of data security for companies. Grab a cup of coffee or tea and do enjoy the read.
Data security refers to protective digital privacy measures that are applied to prevent unauthorized access to computers, databases and websites. Data security also protects data from corruption. Data security is an essential aspect of IT for organizations of every size and type.
Let’s begin, in order to manage and run a business successfully, data security is very important. Irrespective of whether or not you manage a small startup or global firm, data security can make or break an organization.
In the ever growing digital world, businesses greatly depend on data storage and transactions to undertake determined operations. Data consumption has increased business efficiency and profitability. However, it has also posed a high level of security risk that could overcome a company. Companies are held accountable for the safety and confidentiality of customer data and information.
2018 Highlights
The reason data security is becoming more important especially in digital is mainly that customers have changed the way they view their privacy. As businesses push to include data analysis in decision making, customers are increasingly losing trust in how business are using their data.
We saw the General Data Protection Regulation (GDPR) impacting how data of EU citizens is been collected and used by websites.
Browsers and other digital platforms have trackers and blockers which prevent 3rd party cookies. This has limited ad personalization because cookies show ads to people based on websites they have visited.
So what exactly is changing in 2019? Well glad you asked. We decided to summarize data security trends in 2019 below and observe what to expect going forward
Why do We Need Data
According to a 2015 Forbes Insights Report, 22% of marketers have data-driven initiatives achieving significant results. In 2018 we saw a need for data-driven insights into marketing decisions.
Marketing Analytics are measurements of marketing efforts and successes. They rely on the collection of data related to marketing activities and customers.
This data has to be collected over time to reveal trends so as to inform businesses on adjustments that need to be made, ROI as well as Gaps in the market.
2019 Trends
- Customers are getting more protective of their data and breaches could have a reputational and financial impact on organizations. Businesses should, therefore, ensure that all points of data collection whether physical or digital (Including front office staff) are secure.
- Whereas previously websites and landing pages were static, they are now the primary way that a business interacts with its customers. This shift in functionality is also and shift in risk. Be cautious when transforming/facelifting web applications to ensure that data collected is secure and cannot be hacked.
- Enterprise solutions are now coming bundled with security features so that we do not have to purchase entirely different solutions to add a layer of security. The business should, however, be cautious to read the fine print on security features that come bundled with the solution
- Managing data privacy will become mandatory internal compliance, like paying tax for most businesses
- Like GDPR, the regulatory environment will become more challenging as governments worldwide strive to implement better data privacy protection regulations. Remember that it is not about where the business is registered that determines compliance, but where the customer whose data you need sits.
- Cybersecurity is becoming a board agenda as top-level management realize its impact on achieving business goals and brand protection. With the increasing number of data breaches, boards will want to see the effectiveness and understand objectives of cybersecurity.
How can you protect your company against security threats?
Quite a number of businesses overestimate their ability to handle data loss especially when a breach does occur. For example, companies hold the belief that they are adequately equipped to handle phishing efforts, however, what they forget to recognize is that phishing is not the only type of way that data breaches do occur. Unsecured portals, websites, network and smart devices are unprotected systems that can be intercepted by potential hackers.
It is therefore crucial that companies evaluate their safety measures in processing and handling data securely.
The first method that can be used to protect your company against security threats is Role-based access control (RBAC) which helps keep data more secure allowing the company control on who is able to access different types of data, based on their role in the company.
In addition, endpoint protection software can block unsecured web pages that employees are able to access in order to avert the risk of a breach taking place.
Lastly, antivirus ( Data backup and recovery) software, as well as firewalls, are methods that can be used in protecting companies as well as consumer information, however, these methods must be kept up to data in order to secure their data.
So there you have it data security trends to consider in 2019. We hope to hear from you in the comments below and we look forward to keeping you updated in the coming weeks, with more marketing insights to consider within the Kenyan market. Do have yourself a lovely week.
