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.