Understanding the Value of your Organisation Data
In today's world, data security is a critical aspect for all
businesses, especially logistics companies, where a large amount of sensitive
information is being shared online. Data security breaches can result in
financial loss, legal liabilities, and a damaged reputation. Therefore,
logistics companies must understand the value of their organisation's data and
take measures to protect it.
There are some key areas in which companies can learn how to
value their data, which include identifying the types of data that are
essential to their operations, determining the potential risks and threats to
their data security, and evaluating the impact of a breach. They include
customer-identifiable information such as names, addresses, and payment
details, as well as operational data such as supply chain information and
delivery routes.
These are known as the crown jewels of a company, and
protecting them should be prioritized. Primarily, ensuring that our information
is secure through cloud security providers is not sufficient, as it is known
that at least 80% of data breaches are caused by negligence or human error,
where most employees fail to follow security protocols or are not trained in
them.
Valuing your company's data can be done by understanding the
likelihood and potential impact of a data breach. In addition to implementing
security measures at every level of the organisation, logistics companies must
also consider mechanisms for encrypting transmissions and data authentication.
Hence, adopting other technologies is critical to adding
additional layers of protection such as:
- UEBA
(User Entity Behaviour Analytics), which tracks user and entity behaviour
to detect anomalous activities, would help companies to understand how
users in their company are commonly regularly accessing their data. When
there are anomalies, users can be prevented from downloading large amounts
of data from systems and servers.
- EPP
(Endpoint Protection), which is used to protect against malware,
ransomware and other cyber-attacks directed towards endpoints such as
laptops and mobile devices, can help to protect logistics companies from
cybersecurity threats.
- EDR
(Endpoint Detection & Response), where continuous monitoring services
are provided with the gathering of data to address potential cyber threats
that arise, typically round the clock services to provide real-time
discovery and detection and response to advanced threats on endpoints.
These are some technologies which can be adopted by
companies to strengthen data security and protect valuable information from
unauthorised access, and other cybersecurity threats.
This is in addition to companies' data privacy and security
policies, which should be regularly reviewed and updated to ensure that they
are up-to-date with current best practices.
In conclusion, companies should recognise the value of their
data and take proactive measures to protect it from potential breaches.
By adopting the latest technologies and regularly updating
their data privacy and security policies, logistics companies can mitigate the
risk of costly data breaches while also safeguarding customer and operational
data.
Companies who wish to consider adopting these technologies can consult with Singapore Logistics Association for further advice and guidance on how to improve your data security posture.
**This article was contributed by our knowledge partner, Toffs Technologies, to provide industry insights. SLA does not endorse any products or services mentioned.