Data Loss Trends That Every Entrepreneur Should Know

Data Loss Trends Every Startup Needs to Watch
In today's digital world, the value of data is indisputable. From client information to financial records, market trends to employee details, businesses across the spectrum thrive on data. As an entrepreneur, it's crucial to understand that while data brings immense potential, it also harbors substantial risks. Data loss, for one, can wreak havoc on an enterprise, leading to financial setbacks, reputation damage, and even business failure.

If you have a significant online presence, one of the most crucial issues you need to be kept in the loop about is cyber security. While it might sound dull and technical - especially if you are no computer whizz - it is vital that you know how to keep your organization safe from cyber threats

Although you might have a basic understanding of cyber security, it is constantly evolving and requires you to stay on the pulse of the best solutions, security practices, and threats to watch out for. 

To help you stay on top of cyber security, here are some data loss trends you need to be aware of as an entrepreneur.

Cloud storage

Arguably the most important aspect of data loss is how you store the data to start with. This is the first port of call you need to focus on if you want to increase the level of cyber security within your organization. 

The reason is that if you can’t store your data safely, you will have little to no chance of withstanding the threat of cyber attacks. After all, it is sensitive data that hackers usually target (because it holds the most value), so it is your job to make their lives as difficult as possible.

This is where cloud storage comes into play. It is generally regarded as the safest and most agile storage solution available to businesses because all you need is a login - which can be accessed by any device with the password anywhere in the world.

Of course, this could be problematic if the ‘wrong’ person has the login credentials, which is why you need a CIEM. This system manages logins for your cloud servers, ensuring that only those with clearance can access sensitive information.

Phishing scams are more prevalent than ever 

Another data loss trend you need to be aware of is the scams themselves, which threaten your data the most. While there are countless different types of cyber-attacks, it is best to focus on the most common variants first.

For example, phishing scams are incredibly common and easy to fall for if you don’t know what you are looking for. A phishing scam is when an email or SMS message is sent out to you or your team, designed to trick you into taking a particular action. By doing this, you compromise your security and give up sensitive data.

Make sure your Staff knows How to handle Data Storage

Lastly, you need to make sure that your staff are fully trained on how to store sensitive data properly, and how to stay safe online. There is an alarming insider threat trend rising now, which is basically employees who either knowingly or unknowingly leak information or compromise company security. Therefore, make sure that you train your staff on cyber security.

IoT and Edge Computing Vulnerabilities

The rise of IoT and edge computing has led to a surge in the amount of data generated and stored at the network edge. However, security measures have struggled to keep pace, making these devices and data points particularly vulnerable to attacks and failures.

As an entrepreneur, understanding these trends is only the first step. It's crucial to implement robust data protection measures, which may include employee training, regular system updates, robust backup and recovery strategies, and a strong cybersecurity framework. Furthermore, adopting a proactive rather than reactive stance toward data protection can save your business from significant financial and reputational damage.

Remember, in the digital world, your data is your asset, and protecting it is not an option but a necessity.

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