Invest in resilient data management systems to improve innovation and overall business performance
Data is commonplace in today’s digital economy; it forms the basis of all knowledge and transactions enabling companies to make important decisions. Since this data also enables better analysis and decision-making, organizations should ensure that they invest in robust data management solutions that better manage and protect their data, especially as it evolve.
Benefits of an Effective Data Management System
Effective and efficient data management solutions allow organizations to access up-to-date information, better understand what they have at hand, simplify essential functions and reduce the time needed to make decisions.
These solutions improve the visibility of organizations’ assets to allow employees to quickly find the right data, which increases productivity and value. They minimize potential errors by using an established process, enabling businesses to meet any unprecedented market challenges and conform to customer needs.
Data management enables organizations to scale data quickly and cost-effectively, and also protects organizations and their employees from potential data breaches and losses. Adopting a data management system with built-in security and data backup and recovery processes is a must for every organization. Not only must the system be able to protect organizational data, but it must also be able to detect and prevent any harmful cyberattacks to remain truly effective.
Data Management Best Practices
1. Make sure you have a clear goal for adopting a data management system
2. Perform regular checks to ensure data is up-to-date and accurate
3. Train team members to enter correct data
4. Limit employee access to all data
5. Prioritize data security and ensure processes meet compliance requirements
While data security involves implementing strategies to protect against and prevent cyberattacks and data breaches, going the extra mile to mitigate the impact of a possible cyberattack and bounce back is ideal. This is where cyber resilience comes in. Cyber resilience is the ability of an organization to protect itself, detect, react and recover from cyber attacks and any unforeseen challenges.
Cyber resilience strategies to improve business
Now more than ever, it is imperative for organizations to be cyber-resilient and ensure data security in their storage systems. Given the threat to data center infrastructure, end-user devices, and data assets stored on both, enterprises must invest in cyber resilience strategies to reduce risk.
To figure this out, IT strategy and research firm ESG (Enterprise Strategy Group) surveyed 750 IT decision makers about their levels of cyber resilience based on their answers to four questions targeting four key areas.
1. Cybersecurity Team Workforce
2. Presence or absence of problematic gaps in team skills
3. Level of investment in cybersecurity products and services to secure its systems, applications and data
4. The organization’s emphasis on formal and rigorous security oversight of IT partners and vendors to minimize third-party risk
Organizations that have confirmed that there are no staff vacancies in their cybersecurity teams, no gaps in team member skills, optimal investment in security technology, and rigorous inspection of risks by third parties were considered to be prepared. Organizations that had 2 or 3 attributes were considered vulnerable and those with 0 or 1 of these attributes were considered exposed.
Why you should care about cyber resilience
Cyber-resilient strategies contribute to business continuity, allowing companies to continue their essential business functions even in the event of a disaster. It also plays a huge role in driving digital transformation, further contributing to business continuity and resilience.
According to ESG, prepared organizations have overall optimal business performance compared to vulnerable or market-exposed organizations, because an investment in cyber-resilience practices not only minimizes risk in businesses, but also improves their ability to innovate and to thrive even in the face of adversity. Research has confirmed that greater cyber resilience is correlated with better availability of IT services, faster incident detection and response, higher end-user satisfaction, more agile organizational innovation, and better overall positive business outlook.
An effective cyber resilience strategy can not only reduce security incidents and data breaches, but also improve compliance with government regulations, reduce the risk of fines, and ultimately build customer confidence in the brand, which improves its reputation.
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