How to Minimize the Risk of Data Loss

How to Minimize the Risk of Data Loss

One of the serious risks for businesses is data loss. When some IT people did research on knowing the causes of data loss under various conditions. They came to the result that 31% of the people said that data loss occurred due to hardware or system failure. 29% of people lost their data due to human error and 29% stated that viruses or malware caused the data loss. 

According to Forbes, in the first six months of 2019, the data breach had exposed 4.1 billion records. The World Economic Forum states that as of 2019, cyber-attacks are considered among the top five risks to global stability. 

Before going further and identifying which measures should be taken to reduce such risks, it is important to understand what actually data loss is.  

What is Data Loss? 

Data loss is when information systems are deleted, unrecoverable, or corrupted. Data loss is completely different from data unavailability which refers to data being stolen. If you experience a power surge – resulting in temporary data unavailability during files transfer, you may find them as unreadable or corrupted constituting data loss. 

In short, data loss can happen due to multiple reasons. But, the risk can be minimized by doing some necessary precautions to avoid any serious circumstances for the business. 

1- Limit the number of users

Understand that you should give access to only those users who actually need it, and ensure that they have been appropriately evaluated. Ensure those users have been working with the business for a period before granting accessibility to them. 

2-Know where your sensitive data resides

It is necessary to understand where your sensitive data is saved and stored behind correct accesses. You need to make sure that sensitive data is separated from the files that are in use on a daily basis and accessible to everyone. 

3- Regularly monitor user activities

Make sure that you have an adequate and continuous auditing approach for users. Meanwhile, keep the track of files/folder changes as well as system changes. 

4- Train IT experts

One of the biggest causes of data leakage is human resources having a lack of understanding and good practice to handle sensitive data. To counter this, make sure you have training programs in place on how to handle and manage the data.

5- Implement strict data encryption procedures and authentication policies

Your most sensitive data must be encrypted so that if ever data breach occurs and you know they can’t do anything with the sensitive data. Hence, a comprehensive authentication method saving the data, like two-factor authentication is highly recommended.  

6- Secure your endpoint devices

It is very important to secure endpoint devices that have access to your infrastructure. A secure VPN or deployment of a network access control solution can help in maintaining adequate security.