What Is Data Loss Prevention & Why Is It Important?
Data is arguably one of the most valuable assets in the modern marketplace. But it’s usually sensitive, and organizations do their best to prevent unauthorized disclosure of confidential data.
However, data loss still remains a huge concern for businesses because they can spend a fortune on data recovery in case something happens. Not only that, but the consequences of data loss can be damaging to businesses as it can ruin their reputation, affect productivity and stop organizational processes.
That’s where data loss prevention comes in.
Organizations have increased their spending on data loss prevention practices and software tools. The global market is expected to grow to $6.4 billion by 2028, and rightly so. Research has shown that you might end up paying more for data recovery solutions than you typically would for data protection measures.
This is why data loss prevention is important. We’ve prepared the following post to serve as a brief guide to everything you need to know about data loss prevention and why it is necessary.
What Is Data Loss Prevention?
Data Loss Prevention (DLP) refers to the process of preventing sensitive data from being disclosed or stolen. It is a crucial way to protect your company’s assets and information. This data could include intellectual property, corporate data, and consumer data.
The thing is, data resides in various devices, including physical servers, databases, personal computers, file servers, flash drives, and mobile phones. Not only that, it moves through many network access points, including VPNs, wire lines, and wireless connections.
There are many ways that data loss can happen. This includes human error, system failure, data corruption, theft, software corruption, natural disasters, and perhaps the most notorious one of them all, hacking.
Data loss prevention aims to provide solutions to these problems. Think of it as a combination of practices and software tools designed to prevent unauthorized access to data.
Why is Data Loss Prevention (DLP) important?
Data loss prevention is crucial because it helps minimize the risks of data being stolen, lost, or compromised. These practices and software solutions prevent data from being lost by identifying and monitoring all the different sources of data leakage.
The implications of data loss can be detrimental to organizations. For instance, business operations can come to a halt, reputations can be ruined, and money can be lost, not to mention legal actions and lawsuits.
Data loss prevention can’t be overlooked because the consequences can be devastating if an organization’s data is breached. For example, if a company has a breach of its payroll system, it might not have any money to pay its employees or make payroll deposits. This could lead to bankruptcy or, even worse – shutting down completely.
Another example would be if a healthcare provider had a breach of their records system. If private patient information leaks, it could lead to a ton of identity theft cases with patients. Not only that, but the healthcare provider would be subject to harsh legal ramifications.
5 Data Loss Prevention (DLP) best practices
BACK UP YOUR DATA
Backing up your data is an essential practice in data loss prevention because it ensures that you have a copy of your data in case anything happens to the original. This way, you can restore all your files and programs.
CONSIDER USING A VPN
A VPN is a Virtual Private Network that provides an encrypted connection between two endpoints. This encryption means that all data sent over the network is scrambled and can’t be read by anyone else.
A VPN is essential for data loss prevention because it prevents people from intercepting, accessing, and tampering with sensitive information. And in the process, it also helps in protection against malware attacks. It would be in your best interest to carefully compare some of the best VPNs out there and choose the right solution if you want to ensure data moves securely within your organization.
IMPROVE YOUR NETWORK SECURITY
DLP focuses on protecting information as it moves across different media, such as email, cloud storage, social media, and other platforms. Network security can be improved to prevent data breaches by implementing DLP.
This can be achieved by using tools that monitor network activity to identify potential threats that could lead to unauthorized access or leakage of sensitive information.
EDUCATE EMPLOYEES ON DATA LOSS PREVENTION PRACTICES
Employees are one of the first lines of defense against data breaches in an organization. So, investing in their education, training and raising cybersecurity awareness would be in your best interest.
Education should cover areas including using strong passwords, identifying and dealing with phishing attacks, using encryption software, deleting confidential material, and using encrypted USB drives, just to mention a few.
IMPLEMENT A DLP POLICY
Data loss prevention practices outline how your organization protects and shares its data. They include written rules and procedures to ensure protection against data loss or lawsuits.
Data is an essential yet sensitive asset for many businesses. Data loss often results in damaging outcomes, including tarnished reputations, loss of revenue, and interrupted business processes. To stop this from happening, organizations turn to data loss prevention.
Data loss prevention is essential as it helps businesses avoid potential data leaks, cybersecurity attacks, and lawsuits. There are many data loss prevention techniques, including backing up data, using VPNs, educating employees on DLP practices, improving network security, and introducing DLP policies.
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