A typical data breach in the United States costs around $9.44 million—more than twice the global average. Healthcare is the top sector affected by pricey data breaches, but any business can be severely affected. For Long Island and NYC business owners, data protection and cybersecurity should be a top concern. A data breach can threaten your profits, your reputation, your employees and your customers. It can also put your enterprise at legal risk.
If you’re wondering exactly what data protection entails – and why you should make it a priority – this article will answer some of your questions. It can be hard to distinguish between data protection and cybersecurity measures, since the two are so intertwined. Some people view cybersecurity as a technical field, and data security as more direct safeguarding measures. But this view is an oversimplification of both. We’ll explore the relationship between data protection and cybersecurity, and we’ll also take a look at how LI Tech Solutions can help you shield your business from harm.
What Is Data Protection?
Data protection is the act of shielding your information from unwanted access. You need to take steps to make sure sensitive information isn’t altered or destroyed—or leaked to unauthorized parties. LI Tech Solutions is the best cybersecurity company in Long Island, NYC. So naturally, we handle all aspects of data protection, including:
- Backup solutions, such as cloud and on-site architecture and centralized real-time dashboards
- Disaster recovery solutions including end-to-end encryption
What Is Cybersecurity?
Cybersecurity is a more generalized term that describes the “art” of protecting digital networks, devices and data – and ensuring its privacy and accessibility. Malware, hacking, and the exploitation of programming errors that cause vulnerabilities are just a few of the threats that cybersecurity experts have to combat.
Why Data Protection Is So Crucial for Businesses
At LI Tech Solutions, we understand that if disaster or sabotage strikes your business, your quick response is critical. Your data doesn’t just sit motionless. It travels from one point to another, and it’s exposed to multiple vulnerabilities along the way. There’s no such thing as data that’s free from any possible threat.
These are some primary reasons you should invest in state-of-the-art data protection for your enterprise.
Keep employee and client data confidential
You probably have access to sensitive data about your team members and customers alike. Personally identifiable information is a broad category that includes direct identifiers and quasi-identifiers. In other words, it refers to data that can be used on its own to identify a person, or data that can be combined with other bits of information to build an identity.
Direct identifiers include information such as:
- Social Security numbers
- Driver’s licenses
- First and last names
Four types of indirect identifiers include:
- Birth date
- Zip code
When you allow unauthorized users to access any personal information, you expose employees and/or customers to identity theft, fraud, and other serious threats.
Stay in compliance with regulatory bodies
The GDPR and CCPA are designed to protect individuals and consumers from harm by regulating entities that access and store their data. The GDPR, or General Data Protection Regulation, applies to all businesses that conduct any transactions within the EU. The CCPA, or California Consumer Privacy Act, safeguards consumers’ rights to control their own personal information. Failure to comply with regulatory bodies that govern your business can lead to legal action and fees: up to $7500 per violation of the CCPA, and a wide range of penalties for violating the GDPR. Clearly, prevention is the best approach.
Build consumer and market trust
A data breach can harm your brand’s value and reputation in ways that are hard to repair. Today’s consumers care more about whether their personal information is protected than ever before. If your clients are involved in a data breach, they’ll probably stop giving you their business. Investors are also likely to shy away from companies with a reputation for poor security measures.
Protect your intellectual property
Businesses in the United States lose between $180 billion and $540 billion every year when their trade secrets are stolen. On top of that, they’re often subject to hefty legal fees as they seek to rebuild after the damage caused by a data breach. When you lose control of the things that make your business unique, it can be hard to measure the financial losses involved.
Why Data Protection and Cybersecurity Go Hand in Hand
Business owners often make the mistake of handling data protection and cybersecurity as two separate entities. However, this approach is costly since it involves multiple teams – and it’s also not the most effective way to ward off threats. Let’s examine a few key reasons.
Threats are complex and evolving
As technology evolves, digital threats become more sophisticated to keep pace. Those with malicious intent will stop at nothing to gain access to your data, and their skill sets are more comprehensive than ever. To stop them, you need a multi-layered approach that integrates data protection and cybersecurity skills.
Cybercriminals can bypass data protection measures
Data protection solutions are effective for what they’re designed to do. But cybercriminals can sometimes find a way around them. For example, MFA (multi-factor authentication) might protect your devices from access by non-employees. But cybercriminals can conduct a brute force attack to simply figure out both points of authentication through trial and error.
Data protection skills are necessary when cybercrime strikes
After a major cybersecurity breach, your top priority is making your data secure again. This does mean implementing measures that directly address the source of the breach. But it also means taking a comprehensive approach and revisiting all your data protection policies to safeguard against the next attack.
How to Approach Data Protection and Cybersecurity Together
We’ve got a few tips that can help you form an integrated approach to protect your business.
Maintain a company-wide culture of data safety
When data is handled carelessly, hackers can more easily gain access to your systems. The best way to safeguard your information is to have your data protection and cybersecurity specialists work together – and to frequently educate your entire team about proper procedures.
Ultimately, humans are often the vulnerable points in an organization that bad actors will exploit to access sensitive data. Everyone in your organization – not just your security specialists – is responsible to keep your information safe.
Opt for end-to-end solutions
An end-to-end solution is one that provides a complete answer to a problem, without having to rely on external sources. LI Tech Solutions offers end-to-end services that protect your data from start to finish, anticipating and addressing threats on all fronts.
Partner with specialists who have multiple skills to offer
Why hire a team of data protection specialists if they can’t handle other cybersecurity needs? Why invest in a cybersecurity partnership if you’ll need to find someone else to handle your data protection? If Long Island government systems are vulnerable to crippling cyberattacks, it’s clear that cybercrime is a significant threat to local businesses, too. Ultimately, the best cybersecurity company in Long Island, NYC will bring a comprehensive skill set to the table.
Handle All Your Data Protection and Cybersecurity Needs with LI Technology Solutions
As the best MSP on Long Island, LI Tech Solutions offers all the services you need – without the burden of maintaining full-time IT staff. Is it time to outsource your IT support needs to the experts? Call 516.210.6400 today and ask for a free consultation and technology assessment!