The Importance of Proper Governance of Access to Critical Data

The security of data that is the most sensitive is vital. Without proper governance, business disruption and revenue loss could occur. In contrast, effective governance can increase the revenue, satisfaction of customers, and efficiency in operations.

To develop appropriate controls, you must first understand your critical data. This requires an understanding of your data and records, including the regulations that apply to them, and the consequences an incident could have on you.

It’s not simple to identify essential data elements, however it is worth the effort. It helps you coordinate objectives and tasks with greater accuracy which results in a higher quality product as well as increased revenue and fewer risks. It also allows you to reduce the number of tasks that need to be completed, which frees up resources.

Data that is critical to your business can be defined as data that should be lost or compromised, would have a moderately to a significantly negative impact on the capacity to perform essential tasks and services. It is required to be protected by security measures that are matched to the risks and are detailed in your security policy.

To determine whether your data is important, take a look at the three parts of any access control: who, what, and how. What refers to the asset itself, such as an electric power plant, computer system or database. Who are the users that are seeking access. It could be human or computers and their degree of risk. How refers to the level of access needed based on your security policies and principles like least privilege and separation of privilege.

A business should also consider the amount of time it’s willing examine and manage critical data. For instance, if your business doesn’t maintain records long enough to be essential, it could save time and money by making sure you eliminate them promptly. This should be carried out in a controlled manner to ensure that any documents that are still needed are reclassified.

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In addition to identifying and categorizing important data, it is essential to establish a continuous process for updating and decluttering your information and records. This includes erasing any data that is no longer needed or valuable, and ensuring that all remaining data is erased in a timely fashion. This will help to ensure that your company only retains the information that is vital to its operation and prevents the storage of data which could pose a risk of exploitation.

As the cybersecurity landscape continues to change it’s vital for businesses to continually evaluate their data security measures. By implementing a centralized and simple-to-use system for managing data companies can cut down on risks, increase efficiency and improve satisfaction with their customers. For more information on how to effectively manage your data download this white paper.

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