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What Is A Data Protection Policy? Can It Be Beneficial?

StrategyDriven Risk Management Article |Data Protection Policy|What Is A Data Protection Policy? Can It Be Beneficial?Navigating in the digital world is a journey full of learning. Thanks to the numerous digital tools and solutions available today, businesses can achieve their goals faster and more efficiently. However, as a business owner, you must be cautious when using information systems. Along with the advantages of these online solutions are their disadvantages—some of which are data loss and theft. When using these online services and software, your data might be at risk.

Because of potential online and offline security threats to your business, it’s essential to set up your information technology (IT) team dedicated to data privacy and security. By arranging a data protection network inside your company, you can lower your company’s vulnerability to security crises today and in the future.

What makes data privacy and security significant? What could happen if a company isn’t able to protect its data? In this article, you’ll explore how you can level up your business security by establishing a data protection policy. You’ll discover how this policy can benefit your business or organization.

Importance of Data Privacy and Security

A simple click on the internet can leave significant digital footprints about your organization. Since it’s in the business’s nature to negotiate with consumers and investors, companies can obtain personal information from people they transact with. Still, they should keep these pieces of information confidential.

After meeting a stranger for the first time, bet you wouldn’t entrust them with your accurate personal information. You’ll only disclose more information about yourself as you develop more profound connections with people. The same goes for organizations. It’s the company’s responsibility to ensure data privacy by managing how data is collected, used, and stored. Likewise, it needs to establish data security to protect business data from internal and external attackers or any loss that could lead to the company’s downfall.

What Is A Data Protection Policy?

Essentially, a data protection policy defines how your company will protect the confidential, personal data of every individual involved in the organization. Personal data may include any information related to an identifiable person such as:

  • Name, address, and contact information
  • Online identifiers
  • Health information, records, and documents
  • Bank and credit card details
  • Employment information

Data protection policy shouldn’t be interchanged with ‘Privacy Policy’ and ‘Privacy Notice.’ While a privacy policy or notice explains how users’ data will be used, the data protection policy involves guidelines, rules, and principles that notify individuals on their protection coverage according to data protection laws.

Benefits of Implementing A Data Protection Policy

While smaller companies tend to overlook their data protection, it’s them that will be most vulnerable if they don’t recognize its importance immediately. Protecting your organization’s data with the data protection policy should be your top priority, especially during the first few years of your business, as it’ll help you reap these primary benefits:

1. Safeguard Your Company From Online Hackers

Digital threats can come from both inside or outside of your company. As most cyberattacks are unexpected, your organization can stay vigilant 24/7 from potential attackers with the help of a data protection policy. Aside from protecting your company’s data, implementing cybersecurity policies protects your businesses from costly data breaches and cyberattacks.

Employees are most vulnerable to online attacks as they travel from websites to attachments, share passwords, bypass encryption, and other small actions that may put them and the company’s safety at risk. Spreading security awareness among your employees is a crucial aspect of the data protection policy.

2. Offer Peace of Mind To Employees and Customers

As a loyal customer, what would you feel if you’ve recently discovered that one of your trusted brands hasn’t established a strong data protection policy yet? Of course, you’ll feel worried that anyone can easily access your confidential information, and worse, take advantage of it to cause you or other people harm.

Establishing a data protection policy on your company gives your customers and employees peace of mind that their information is always kept secure and private. While there’s an uncertainty that their data can’t be compromised in the future, having a data protection policy prevents or lessens the damage inflicted by any potential data breach.

3. Increase Customer Engagement and Trust

Companies that have had security issues now look less appealing to customers and investors. Sixty-five percent of 4,500 consumers indicated that they wouldn’t transact with businesses with a data breach history. These consumers also feel that only 50% of companies they negotiate with take data privacy and security seriously.

Therefore, if you’re a company with well-established data protection policies and haven’t had any data security issues before, customers are more likely to be involved in your brand offers. This gives you an edge against brand competitors.

Takeaway

In this technological age, businesses and organizations should always prioritize managing their data. While these data are mere combinations of letters, numbers, and figures, they hold an unparalleled value to your company. Entrepreneurs should understand that data integrity isn’t a burden to their plate and acknowledge it as an important element to drive business growth and success.

Five Advantages Of Cloud Computing For SMEs

StrategyDriven Tactical Execution Article |Cloud Computing|Five Advantages Of Cloud Computing For SMEsThe importance of cloud computing is overlooked by many businesses, it is vital for small and medium businesses to function at their best.

Why is cloud computing so important for SMEs? The idea of the cloud is that it is a network of remote servers that will allow you to access shared applications, storage, and other computing resources via an internet-based facility. The cloud replaces the need to have to install additional hardware of your own. The cloud is all around you, operating in your day to day life.

Everything is moving into the cloud. This is because there are a lot of cloud computing use cases that will make life a lot easier for users and businesses alike. It can improve cash flow, increase efficiency, and offers a lot of other advantages.

Flexibility

When you own a business, have the needed flexibility is essential. This is where cloud computing for SMEs can come in to help you. When you’re on the go, you know that you can rely on the cloud to give you access to modify and save the files you need from any device wherever you happen to be.

If you want to access virtual resources like protected storage, web applications, or redundant firewalls for example, then you can do this by using any device that is connected to the cloud via the internet. Activity like this can give any small business the upper hand on the competition.

Portability – Remote IT Infrastructure

As part of the advantage of flexibility, the cloud offers near limitless computer resources to its users regardless of their location.

The ability to allocate an entire server farm’s equivalent of computer power for your project or the task you need to do with just a few clicks is very appealing. Every major player in business uses a platform like this to give its users and internal employees access to secured data.

Data Security

Storing files and your important data via the cloud is often safer than more traditional storage on a phone or a computer. There are often many laters that are put into cloud computing security so the best cloud service providers can offer infrastructure will protect all your data.

Software Updates

Automatic software updates are another bonus that you can get from moving across to a cloud computing system. A key thing that can damage the productivity of a business is running out of data software. A lot of owners neglect this step, so it’s a common issue. With the cloud, it’s the job of the cloud service provider to manage any needed maintenance and software updates without you having to worry about it.

Environmentally Friendly

Cloud computing can easily be scaled to match your business needs. Before the cloud, you had to buy physical machines yourself, pay to power the whole server room, and pay employees to handle maintenance. Now, you only need to pay for the resources that you actually need. This helps the environment by reducing your carbon footprint.

How To Safeguard Your Company Data

StrategyDriven Risk Management Article | How To Safeguard Your Company DataIt doesn’t matter what kind of business you run, you will need to take steps to safeguard your company data, and that of your customers, from cybercrime and data loss. Losing important business information or having it stolen by a hacker could easily spell the end of your enterprise altogether, and it will certainly have a negative impact on your reputation. Therefore, it makes sense to put in safeguarding measures to protect the information and yourself. Here are some ways to do it.

Back Up

Backing up your information is simple and effective. Although it won’t protect against an attack by a cybercriminal by itself, it will allow you to restore the potentially missing or corrupt information left in the hacker’s wake, or as a result of a system failure.

If you can restore the information then you can continue working, even if there are other problems that still need to be dealt with. Without a backup of your work, you may well lose everything and have no way of continuing your business at all.

The most important thing to remember about making backups is that you will need to use a reliable external source to do it. There is no point in backing up your information to another computer on the same system; this is not going to keep it safe. Ideally you should use the cloud as not only will the information be protected but you can access it from anywhere – this is perfect if you are unable to get to your office or if there was a fire, for example, that destroyed your computing equipment.

Use A Firewall

A firewall will give you an extra line of defence against cyberattack. It works as a barrier against any malicious software that you may have inadvertently downloaded. This barrier, when correctly installed, will ensure that the virus cannot reach the more vulnerable and important parts of your computing system, blocking it completely.

The idea is a simple one, but there are many different types of firewall and it can become confusing and even overwhelming when you start to look more deeply into it. Because of this, it is best to have IT services Birmingham find the right firewall for you and install it – that way you know you are protected.

Password Protection

It is possible to set passwords on some programs such as Adobe Acrobat and the Microsoft Office suite. This adds an extra layer of security so that only those who have the password are able to open the document.

You can even password protect entire folders and networks if you want to and feel that this would be a useful protective measure that will safeguard your company data. When you are choosing a password, it must be something unique that cannot be guessed easily; never use phone numbers or birthdates or names. For the best password, you should use a combination of letters, numbers, and symbols. Although this will be harder to remember, it will also be harder to guess, so your information will be much safer.

7 Effective Strategies for Managing Customer Data

StrategyDriven Customer Relationship Management Article |Managing Customer Data|7 Effective Strategies for Managing Customer DataData is one of the most valuable assets in any organization. Product development, marketing, and pricing, among others, are all influenced by the data the business has. With this, to effectively manage customer data and extract the most value out of it, take note of the strategies listed in this article.

Use a Customer Data Platform

A customer data platform or CDP is one of the most important tools for organizations. It should not be confused with customer relationship management software. The main goal of a CDP is to improve marketing decisions by unifying online and offline data. Whether it is a website or physical store visits, it presents valuable insights that can help make better decisions.

If you are looking for a good CDP to try, check out this link https://www.lytics.com/.

Perform Data Hygiene

Dirty data is useless. It can do more harm than good for the user. Data becomes dirty when it is outdated or inaccurate, among other things that will negatively impact its quality. To implement data hygiene, one of the most important is to have standardization rules. Automatic data cleansing will also be effective. Doing it manually is not only labor-intensive but can also be prone to errors.

Invest in Your People

To effectively manage customer data, you need to invest in your human resources. Your employees have an important role to play in making sure of the quality of data. Provide comprehensive training, especially regarding the use of data management tools.

Collect Only What You Need

Data can be overwhelming. Also, the more information you have about your competitors, the more vulnerable you are to attack. With this, avoid collecting data that you don’t need. Gather only the essential information that you will need when making business decisions.

Be Ethical

Gathering information ethically is also one of the most important strategies in customer data management. When you collect information, be straightforward about how you intend to use the data collected. Provide customers with the option to opt-in if they want to share information. A well-crafted privacy policy is also a must. If you are unethical in data management, you can lose the trust of your customers and this can taint the image of the business.

Create a Backup

Data backups should be non-negotiable. There is a high chance of losing online data, so you need to prepare for the worst. By having a backup and recovery plan, the effects of data loss will be minimal. Otherwise, it can cripple the operations of your business.

Pay Attention to Data Security

Data security is important to protect information from attacks. Whether it is physical or digital means, you need to have proactive measures to prevent a data breach. For online data management, using strong passwords and multifactor authentication will help. Installing antivirus software can also be effective. It will also be good to limit accessibility.

From using a customer data platform to implementing data security measures, this article talked about the best ways to manage customer data. It is crucial to have a comprehensive approach to data management to protect its quality.

Improving Your Data Security Following These Guidelines

For rhyming purposes and historical recall, it would be nice if it were the year 1964 when Gordon Moore discovered what came to be known as Moore’s Law. But it was 1965, and the rhyme is kaput. Still, the principle discovered lives on, and it is generally accepted today that technological capability in terms of computation doubles on itself about every eighteen months.

The trickle-down effect of this continual forward expansion can mean businesses must update tech systems every eighteen months to five years, depending on region, competition, forward development, and many other factors unique to a given operation. Generally, technological innovations pay for themselves through increased capability or competitive viability. There’s a balance, though, and you don’t want to be sidelined by tech that’s still buggy.

There’s an implication here that often goes without consideration, however. That is the cybercriminal element. As technology exponentially compounds on itself at eighteen-month intervals, cybercrime “startups” do their best to be on the cutting edge, as this allows them an advantage over targets.

With new technologies come new threats even as old issues are resolved. Cybercriminals work to be at the forefront of such tech frontiers to give themselves advantage. It’s absolutely integral that your business adopt, at least in terms of security, the latest available protocols. Following, several data security strategies and techniques will be explored to help you most effectively secure your business in a turbulent tech world.

StrategyDriven Organizational Performance Measures Article | Data Security| Improving Your Data Security Following These Guidelines1. Always Have Worst-Case Scenario Protocols Determined

Cloud computing is the friend of the data security professional today. Apps and server logs can be monitored to catch anomalous behavior and maintain reliable functionality.

Since cloud computing is managed by agencies who have competitive stakes in facilitating top-tier service, in addition to next-level cloud design apps and infrastructure solutions, the newest security protocols can be automatically applied.

This may depend on your cloud provider, or factors such as whether you’ve chosen hybrid, public, or private clouds. Whichever way you go, solutions like database mirroring can help operations on the web remain continuous while you troubleshoot a primary network.

You can also follow-through on the 3-2-1 rule of data protection. Basically, this rule is: three backups on at least two different kinds of media, with a backup being located off-site. Cloud computing can easily fill the niche of your off-site backup.

Lastly, ensure you’ve got a recovery protocol ironed out. Rebooting will be a process, and if you haven’t planned for it, downtime will likely be greater. In terms of recovery, you need not just backups, but restoration protocols.

StrategyDriven Organizational Performance Measures Article | Data Security| Improving Your Data Security Following These Guidelines2. Continuously Update Security Measures

Whether or not you use cloud computing for data security, it’s integral that you apply security patches as soon as they become available. Firewalls fall out of effectiveness given time, these must be updated at regular intervals. The same is true with antivirus protocols, anti-malware, or any other protective software solution. Make sure your data is safe by using the best security and data loss prevention tools there are. You can contact cybersecurity experts such as Alpine Security to learn more about those.

Oftentimes it takes a cybercriminal targeting an organization for security solutions to be determined. You’ve got to stay on the cutting edge of these things, or you’re a sitting duck. Perhaps initially, your business may be less likely to be targeted; but cybercriminals extort all economic targets if they can get away with it.

3. Facilitate Recurring Staff Security Training

It’s important that you “upgrade” your staff just as you update your tech systems. At intervals, they need to be appraised of new cybercriminal threats and hacker strategies. Consider the social engineering hack, as an example. This is when someone doesn’t use any software to break into an organization, they simply use human nature and clever posturing.

Such hacks are often attached to ransomware. Sometimes clever trickery can produce financial theft right from the hands of unsuspecting businesses when hackers get access to personal information, forge an email requisitioning funds, then steal indiscriminately. Your staff need to know what sort of cons are out there, and how to avoid being undermined by them. New ones develop all the time, so keep them educated.

StrategyDrivenOrganizational Performance Measures Article | Data Security| Improving Your Data Security Following These Guidelines4. Don’t Overlook Password Management

Passwords are some of your most important assets. You need to reset them regularly, and they need to be non-intuitive. Avoid mnemonic devices, avoid names you’re familiar with. What you need to do is initiate password management which automatically updates passwords and can provide new one’s when necessary. Working with MSPs can be integral in lining out the best password management; it will depend on your operation.

Covering All Your Bases

There’s no way to anticipate all disasters. You need to have backup and recovery protocols determined. You can defray some instances of cybercriminal intrusion through up-to-date tech security measures, but you must also provide your employees with the training necessary to protect against other means of intrusion. Finally, make sure passwords are properly managed. Such an approach to data security is comprehensive and can help you maintain optimum sustainability.