Category: Cloud Security
Understanding the Business Impact of Data Loss
“Data is synonymous with modern businesses.” Most businessmen or businesswomen would agree with this statement because every element of a modern organization, be it marketing or strategies – is data-driven. However, this crucial element can cause a business’s downfall, too. A data breach alone can change the sentiments of not just users but the company’s investors. You may think it isn’t concerning. If you look at the number of data breaches in the first quarter of 2023, which was 6.41 million, you may reconsider your notion. Additionally, a breach is not the only form of data loss; destruction, deletion, and corruption are equally responsible. Destruction and deletion can be intentional and unintentional. Some organizations delete & destroy unuseful data, but in other cases, hackers do it. On the contrary, corruption occurs when data becomes unusable due to storage, transfer, or processing errors. Whether the data loss is due to technical failure, human error, or malicious attacks, it can halt operations and cause financial losses. Therefore, the life & death of your business depends on understanding the causes, impacts, and prevention methods thoroughly. The Inevitability and Causes of Data Loss Companies like Yahoo, Equifax, Facebook, LinkedIn, and various other big names have lost their data due to security breaches in the past. Mostly, there only a few reasons behind a data loss, such as: Economic and Operational Impacts of Data Loss Losing business data is not something you can quickly get over with. These losses have profound implications, such as: Strategies for Prevention and Management As per Security Magazine, about 25 percent of respondents rated their companies as “poor” or “fair” regarding the ability to detect and block threats. Follow these prevention methods if you don’t want to be among this percentage. Long-Term Consequences and Recovery For small and medium businesses, long-term consequences can be shut down if data is not recovered. Meanwhile, the giant whales, like Yahoo, get over it, but with a blot on their brand image for a lifetime. Protection Is Always A Smart Choice! This article serves as a reminder that not every business can survive the severe consequences of a data breach. It is necessary to reevaluate your data protection measures at every step and to Ask yourself – Are you doing enough to secure your and your user’s data? If not, then it is never too late to take the right step. For in-depth insights on best data protection practices, explore IMS Nucleii’s whitepapers – “Security Patching Made Simple: A Guide for Busy Businesses” and “The Future of Cybersecurity: Trends and Predictions for the Next Decade.”
Safeguarding Your Business with Cloud Security
In today’s digital landscape, where businesses soar to new heights powered by technology, cloud computing has emerged as a transformative force.
