Mitigating Risk: Why a Data-Centric Cybersecurity Strategy is Essential

By Rajesh Garg, EVP, Chief Digital Officer & Head – Applications & Cybersecurity, Yotta Data Services

In today’s digital landscape, where data is at the heart of every business, protecting sensitive information has become a top priority. With the rise of endpoints used by employees to store and access data, the risk of data breaches has increased. Therefore, implementing data-centric cybersecurity measures is vital to mitigate potential harm and ensure data protection.

Organisations can mitigate the risk of cyberattacks by implementing a data-centric cybersecurity strategy. This approach involves classifying data based on its sensitivity and applying security controls directly to the data. By doing so, companies can safeguard their sensitive information, regardless of where it is stored or how it is accessed.

According to Statista, the global average cost per data breach, as of 2022, stood at $4.35 million (approximately Rs. 35.7 crores). By adopting a data-centric cybersecurity approach, companies can prevent breaches by utilising data encryption, access control, and data loss prevention strategies.

Furthermore, a strong backup and recovery solution is an essential component of the data-centric cybersecurity strategy, providing secure and protected data even in the event of endpoint compromise.

How can enterprises adopt a Data-Centric Cybersecurity Framework?

1. Data classification: Data must be classified based on its sensitivity and intended usage. After data discovery, determining the types of data and giving those data categorisation labels is an essential component of the architecture since different types of data require different methods and degrees of security.

2. Access control: Access restrictions can be implemented after the data has been classified to guarantee that only approved employees can access it. This incorporates multi-factor authentication (MFA) and other authentication and authorisation techniques. This makes sure users are only privy to the information they need to complete their tasks and nothing more.

3. Encryption: Strong encryption can protect data in transit and at rest. So, even if an attacker gains access to the data, the individual is not able to read it without the decryption key. This can help to minimise damage in the event of a data breach.

4. Data monitoring and auditing: Cybersecurity teams can instantly identify any questionable activity using data monitoring techniques. Auditing systems can keep track of who accessed what data, enabling businesses to investigate occurrences and guarantee legal compliance.

Transforming Endpoint Backup and Recovery into a Data-Centric Strategy
According to Gartner, in 2023, the spending on infrastructure protection is expected to surpass that of network security equipment because of an increase in the remote workforce and in cloud applications adoption. Both are shifting focus from network security to endpoint security, which is a sub-segment of the infrastructure protection segment, forecasted to grow by 13.5% in 2023 as per the same report.

Employees often utilise endpoint devices to produce and access corporate data, which makes them an essential component of an organisation’s data architecture. These devices, however, are also very prone to data loss because of hardware issues, software issues, cyberattacks, and human errors. Automated, real-time endpoint data backup and recovery services can assist businesses in reducing these risks.

Effective data protection solutions offer various functionalities such as ransomware defense, seamless technology migration, remote data erasing, and compliance management. Users can take advantage of these solutions to enhance data control and visibility, streamline technology migrations, compliance with regulatory requirements, and protection from cyber threats.

In conclusion
As the volume of data continues to grow, a data-centric cybersecurity strategy can have a profound impact on businesses. It enhances data protection, reduces the risk of data breaches, ensures compliance, and provides improved visibility and control over sensitive data. This can help in making informed decisions and implementing appropriate access controls.

A data-centric approach can also improve business resilience, as it ensures that data remains protected even if the perimeter defences are breached, thereby minimising potential damage and downtime. As an additional benefit, it enables personalised customer experiences, driving customer satisfaction and loyalty in an increasingly interconnected digital world.

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