Why Is Information Security Needed In Today’s Organizations?
Information security (also known as cyber security) consists of the principles, tools and regulations used to safeguard data at businesses – and it’s very important in today’s digital world.
Let’s take a deeper look at the importance of information security in modern business organizations now – and explain a few reasons why it’s such an essential element of the IT planning process.
- Your Data May Be The Most Valuable Asset At Your Business
At many businesses, their data or information is their most valuable and important asset. According to a study by the Economist, data is the most valuable resource in the world – and if the wrong people get their hands on your data, they can do serious harm to your business and your reputation.
- Hacking And Data Breaches Are On The Rise Worldwide
In the first half of 2019 alone, more than 4 billion data records were breached around the world – and some of the most notable incidents, such as a March hack of bank Capital One, caused millions of dollars in damages and penalties.
There were more than 3,800 publicly-announced data breaches – and the overall number of breaches in the first month of 2019 was 54% higher than it was in 2018. It’s clear that cybercriminals recognize the value of data – and are looking to take advantage of its value.
- Data Breaches & Loss Cause A Serious Loss Of Trust Among Customers & Clients
Nearly 51% of people have been notified by a company or government agency that their personal information has been lost, and about 2/3 of surveyed individuals said they “lost trust” in the breached organization – while a further 1/3 of surveyed individuals took “steps to terminate their relationship” with the organization.
- Prevention Is The Best Way To Avoid High Costs
It’s estimated that the average cost of a data breach in 2019 is $3.92 million – and as regulations like GDPR take hold around the world, this number is likely to keep increasing.
Avoiding data breaches and having proper procedures in place to deal with them can help keep the costs of data loss down – and ensure that your company is prepared to handle a potential incident.
Be Prepared – Contact West County Computers Now!
At West County Computers, we can help you secure your IT systems with information security and cyber security services. To learn more and find out how to protect your data and your business, contact us for a no-commitment security consultation now!
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