Data is your most valuable asset since it can provide insights for making better decisions and can help you strengthen your relationships with customers and partners. However, it could also be one of your biggest risks should you not take the proper precautions to secure it.

Data breaches can cost companies millions of dollars. They can also damage the value of their brand, undermine trust and even result in fines by regulators. Data breaches are inevitable. However, there are ways to reduce the risk and safeguard yourself from cybercriminals.

1. Authenticate and authorize users to authenticate and authorize.

Data security requires a strong authentication and authorization process to ensure that only authorized persons can access your data. This can be achieved by requiring two or more forms are used to access your data, for example things that the user is aware of (passwords and tokens) as well as something she has (electronics and other devices) or what they actually have (biometrics like fingerprints or face recognition).

2. Secure everything.

The most sensitive data you can store is classified information. Any disclosure that is not authorized could have serious consequences for your business or the people affected. To help protect classified data, it must be protected by encryption always and protected with a decryption keys which is only accessible to authorized personnel. Classifications should be evaluated regularly, and your staff should formulate guidelines for managing encryption keys to ensure they aren’t compromised.

3. Reduce non-essential data access.

The majority of employees don’t require full access to the company’s information. This helps minimize the opportunity to be hacked by decreasing the number of points of entry for potential threats. It is best for users to have access to the information they require to complete their job.

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