Minimising Risks Through Strategic Data Management

The most critical issue that organisations face today is the vast amount of data and information they collect. While this provides opportunities for great innovations, it often leads to disorganisation of unsecured files, documents, and private information. Raising concerns about the safety of intellectual and personal property, leaving many wondering, “Could my information be stolen?” or “Who can I trust in my organisation?”

This is where we as cybersecurity companies have a key role in securing their needs. Major tech companies like Google, Microsoft and Amazon have created incredible cloud services platform that allows secure storing and accessing important assets. However, there is still a rising increase in data breaches, therefore the need for a more secure system becomes evident (Office of the Australian Information Commissioner [OAIC], 2024).

Before diving into protecting this property, we shall understand the difference between data and information to distinguish what should remain secured and what can be shared.

What is the difference between Data & Information?

Data can appear as raw, unprocessed facts and figures, however, it can take a variety of forms. It typically displays both quantitative and qualitative data from questionnaires, surveys, observations, and an array of other sources. These datasets lack context, are unstructured, and cannot offer compelling insights to support rational choices.

Information, on the other hand, is what comes after data is put into context. Because it would be difficult to grasp and could result in misconceptions if we gave our data to random individuals who were not part of the initial contextual group. Data processing transforms the data into information that is structured and easy to understand. Consequently, information that is valuable and intended to affect decision-making.

What to do with Data?

Being able to categorise data into different attributes such as criticality, availability, sensitivity, integrity and retainability are very important to organisation. As it helps identify which are to be classified into restricted, confidential, internal or public use. It is also important to avoid data misuse and protect valuable information, which can be done by employing proper Data Governance; a data management practice focusing on protecting data in relation to its classification (International Business Machines Corporation [IBM], 2024b). Ensuring security, integrity and availability by establishing policies and processes for data collection, handling and ownership to ensure business security objectives.

“Can I simplify my approach?”

As humans, we instinctively look for the simplest solution. Well don't you worry, with data security we can protect digital assets from cybercrimes, such as theft and unauthorised access (Gartner, 2024). Four of the most popular methods are given below:

1 Data Encryption

Conversion of text or data (‘plaintext’) to a crypted code (‘ciphertext’) that is impossible to read and understood by unauthorised parties without the correct encryption keys.

2 Data Masking

Concealing parts or all of the data to hide its true value, creating a false version of the data to confuse those who do not know how to translate it to its real value.

3 Data Erasure

Removing data that is no longer active or needed from a repository (hardware, cloud, etc.) to prevent unauthorised individuals from accessing sensitive information.

4 Data Resilience

Creating a backup of data that can be recovered if lost, deleted, or un-approved encryption due to an attack, allowing the organisation to continue operating without compromising productivity.

Let’s Start Practicing!

You must be thinking if your present security measures are sufficient to safeguard your valuables. Nevertheless, with Data Security Posture Management (DSPM) we can assess your data security posture, by determining whether the right security controls are being put in place and whether sensitive data is being kept available, confidential, and secure (International Business Machines Corporation [IBM], 2024a). With just five simple steps:

1 Data Discovery – Find data you did not know even existed in your environment

2 Data Classification – Rule out the importance of the data & who has permission to access them

3 Workflow Mapping – Clearly define the flow and responsibility of data

4 Risk Assessment – Identify potential risks and address critical threats

5 Incident Remediation – Evaluate and assess the breach & Regulate data to minimise impact

In conclusion, while there are many cybersecurity companies available to provide these services for those willing to invest, data security is manageable for individuals with the right knowledge. By following the guidance outlined in this article, you should now have a clear understanding of the essential steps to take in safeguarding your personal information moving forward.

References

Gartner. (2024). Data Security. https://www.gartner.com/en/marketing/glossary/data-security

International Business Machines Corporation [IBM]. (2024a, October 31). Data Security Posture Management. IBM. https://www.ibm.com/topics/data-security-posture-management

International Business Machines Corporation [IBM]. (2024b, November 13). Data Governance. IBM. https://www.ibm.com/topics/data-governance

Office of the Australian Information Commissioner [OAIC]. (2024, October 1). Notifiable data breaches report: January to June 2024. OAIC. https://www.oaic.gov.au/privacy/notifiable-data-breaches/notifiable-data-breaches-publications/notifiable-data-breaches-report-january-to-june-2024