How data is driving change in cyber security

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Creating strong cyber security policies and systems has far more benefits than simply data protection

Today, businesses have access to more data than ever. It allows them to do new things, enter new markets and intelligently adapt their business models.

For example, IoT offers exciting opportunities to gather real-time data across healthcare, manufacturing, transport and other business sectors. Which allows them to analyse the information and rapidly respond to changes in their business, with suppliers or customers.

The growth in cloud-based applications (Office 365, Salesforce, Google drive, SAP etc) has also made data even more available and instantly shareable.

But with this new world of data comes challenges in not only capturing it in a meaningful way but also holding it secure.

Securing your data through strategy
Effective data security means more than just building a better firewall or protecting your devices. It’s about creating policies that help your people stay ahead of potential compromises, and monitoring your network to spot unauthorised access before it becomes a problem.

A great data security strategy will give you control and scalability over who sees what without compromising your access. This helps to create trust for your customers, all while allowing you to make the most of your data to secure your business for the future.

How cyber security can lead to business growth
Creating strong cyber security policies and systems has far more benefits than simply data protection. 2019 Cisco Data Privacy Benchmark reported that:

  • 41% of businesses gain a competitive advantage over other organisations from investing in privacy.

In today’s marketplace a reputation for effective online security is more important than ever, think of the lasting effect data breaches have had to Facebook for example. A solid online safety reputation helps build loyalty and trust.

Here are the latest security trends and strategies to deal with them.

Increasingly sophisticated cyber-attacks

Building a better firewall is no longer enough to keep data safe. Combining a sophisticated detection to the prevention model creates the flexibility to rapidly respond.

2019 Cisco Data Privacy Benchmark reported that:

  • Asia-Pacific companies receive 6 cyber threats every minute.
  • 41% of businesses gaining a competitive advantage versus other organisations from investing in privacy.

A comprehensive suite of cloud-based security products can help ensure that your network and data are never compromised. This includes real-time monitoring of your network, email, and mobile devices across your business.

Shift to cloud ‘as a service’ delivery

Enterprise adoption of cloud-based services is accelerating, however, even the most secure cloud services could be putting business data at risk, if the connection to the cloud is not highly secure. People often think of the cloud as a single environment, in reality a business’s cloud infrastructure is likely built in open multiple cloud environments, all with their own benefits and challenges.

To ensure your connection to the cloud is secure you can employ products like Vodafone Cloud Brokerage powered by Megaport. It provides the design and implementation of a secure connection to a multi-cloud ecosystem enabling you to have a fast, flexible, and on-demand connectivity to hundreds of global cloud services.

Increasing adoption of IoT

More and more businesses see IoT as a key enabler to their future success. However, this adoption is bringing new security challenges, as organisations look to select the right technologies.

The explosion of devices has created far more paths into a network and significantly increased security risks. Device security has also evolved with the creation of Unified Endpoint Management (UEM) solutions to better protect any devices that are connected or accessing sensitive network information. It does this by giving better visibility and control so security policies are adhered to if a breach is identified, the ability to remotely manage the incursion.

Changing business models and increased mobility

Businesses are fundamentally changing the way they work, becoming more borderless. Data is driving the innovation in new business models. Employees are increasingly mobile and on the move. This poses data risks through the technologies they use.

To combat this growing risk its key to develop and combine your security policy with an education programme for your employees, on top of the latest on-device mobile security applications. Remember your employees are the number one security risk for your business.

Customer trust and brand reputation

Customer data breaches suffered by businesses can severely disrupt the relationship with their customers – risking dissatisfaction, brand reputation damage, concern, and possibly customer churn.

A sound cyber security strategy creates both innovation and customer trust, both essential for growth. It’s also important that you have a Business Continuity Plan (BCP) in place to deal with a breach if one occurs. What are you going to do during and after it happens? You need to have a communications plan in place.

Growing regulatory burden

The regulatory landscape is becoming hugely complex, and there is an increasing onus on businesses to provide complete transparency. Non-compliance to regulation can have strong financial and operational impacts.

In New Zealand we have the Privacy Act, where Principle 5 governs the way personal information is stored. It is designed to protect personal information from unauthorised use or disclosure.

Europe introduced the General Data Protection Regulation (GDPR) in 2016, which is a regulation in EU law to protect personal data. Many states in America have followed suit including California with its California Consumer Privacy Act (CCPA) went into effect earlier this year

Vodafone’s security team has global expertise with over 800 professionals and networks in 26 countries. This means they understand and have experience with data regulatory needs not just locally but across the world.

Summary

Cyber security threats can appear overwhelming, however there are strategies and tools you can put in place to reduce your risk of a data breach.

Vodafone helps Kiwi businesses build trust with their customers through world-class cyber security. Experience a comprehensive security suite of products from a local expert with a global scale.

Learn more about Vodafone Security Solutions

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