5 Surefire Strategies to Prevent Data Loss in Your Business

Editor's Note: Take a look at our featured best practice, Master Data Management (MDM) Reference Architecture (13-slide PowerPoint presentation). The Master Data Management MDM Reference Architecture is an industry- and product-agnostic reference architecture that supports implementing the multiple styles of implementation (Regirtry, Consolidation, Co-existence, Centralised) for MDM. It enables the ability to design business [read more]

* * * *

With increasing online threats, businesses are becoming more concerned about their data protection. This is a practice of safeguarding critical information from cybersecurity attacks, corruption, or loss.

There are several benefits of business data protection. These include increased trust and credibility from consumers, improved data management, enhanced brand reputation, and helping meet current HIPAA standards and requirements.

That said, here are effective ways to prevent data loss in your organization.

1. Hire Experts

One of the most effective ways to prevent data loss in your business is by hiring experts. This involves working with managed information technology (IT) services to help protect your critical information.

The cybersecurity threat is the major cause of data loss among businesses. It occurs when hackers and other unauthorized persons access and steal your business data without your knowledge.

Common cybersecurity threats include malware, phishing, man-in-the-middle attacks, SQL injections, cross-site scripting, and password attacks. All these can cause you to lose your critical business data. That’s why you need to trust IT professionals with your cybersecurity strategy.

Most managed IT service companies work with trained and experienced workers on matters to do with data protection. They can help put adequate measures to help safeguard your business information. This ensures you’re not losing your data to hackers. If you want to promote your business data protection, you can always find managed IT services in Rhode Island. However, be sure to spot a reputable or reliable service provider.

2. Create a Backup Plan

The world of technology is evolving very fast. This implies that sometimes hackers can use advanced technologies to stay ahead of businesses. Therefore, even after implementing security measures on your business systems, unauthorized people can still access your business data. You can counter-fight this by having a backup system in place. This allows you to recover your data even after losing it to hackers.

Apart from that, you can personally lose your data. This can occur when you delete critical information from your business systems by mistake. Besides, you can lose your data when you factory reset your hardware. This also requires you to create a backup strategy.

3. Update Your Business Systems Regularly

Are you still using outdated systems? If yes, your business is at a high risk of losing its data. Why? Because in most cases, hackers utilize older software versions to access and corrupt business data. Therefore, outdated business systems can cause you to lose your data. The solution to this is to update your computer applications more often.

The most effective strategy to help update your business systems is to install automatic updates software. At the same time, ensure each of your business gadgets has a firewall, antimalware, and antivirus program installed in them. This ensures no cybersecurity threat can harm your business. Therefore, you won’t lose your data.

4. Encrypt Your Critical Business Data

The dawn of the internet and modern technologies allows you to share files online with workers, customers, and other stakeholders. Although new technologies can increase your convenience and flexibility, sometimes they can cause huge damage to your business. This is true, especially when files containing your important information fall into evil people’s hands.

Such people can use your data for their advantage or share it with your competitors. Avoid this by encrypting your files before transmitting them to the intended recipient.

Encryption is the process of converting data into a non-standard language. This makes it hard for anyone to understand your information.  However, the intended recipient utilizes specific binary codes to change your data to a standard language.

Encryption is an effective strategy to ensure that you’re not losing your data. It ensures that no one can steal and use it without your knowledge.

Sometimes encryption can be an overwhelming task, especially if you’re sharing several documents daily. You might want to purchase software that automatically encrypts your data in such a case.

5. Educate Your Workers

Lastly, you might want to create awareness for your workers on preventing data loss. Train them on how they can recognize any cybersecurity threat. Also, you need to advise employees not to open messages from untrusted sources. This goes a long way in protecting your data against any damage or loss.

Takeaway

Data forms an integral part of any business enterprise. It includes all customers, workers, suppliers, and other stakeholders’ details. Such information should be protected against loss. You can boost your business data protection plan by implementing the strategies discussed in this article.  Browse some more best practices for data loss prevention.

Do You Want to Implement Business Best Practices?

You can download in-depth presentations on MDM and 100s of management topics from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.

For even more best practices available on Flevy, have a look at our top 100 lists:

• Top 100 in Strategy & Transformation
• Top 100 in Digital Transformation
• Top 100 in Operational Excellence
• Top 100 in Organization & Change
• Top 100 Management Consulting Frameworks

These best practices are of the same as those leveraged by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Improve the growth and efficiency of your organization by utilizing these best practice frameworks, templates, and tools. Most were developed by seasoned executives and consultants with over 20+ years of experience.