Cybersecurity in the Digital Age – Why It Matters for Your Business

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Estimated reading time: 4 minutes

According to Forbes, there have been more than 300 publicly reported data breaches involving the theft of more than 100,000 personally identifiable records over the last 10 years.

We can all name examples of high-profile cyberattacks, such as Yahoo!, Target, Marriott, and Ashley Madison. So, in a time when security is so coveted that even Apple uses it to market the new iPhone, why and how are breaches happening several times per year?

The premise of cybersecurity is simple: Protect your company’s data and your customers’ data. However, the execution can be complex with the hundreds of different strategies, tactics, and software options.

According to CSO, the average ransomware attack costs a company $5 million, and data breaches take organizations an average of 191 days to identify.

A solid cybersecurity strategy can be more than a selling point for your customers; it can inspire trust among a skeptical society. Here are a few ways your business can get ahead of cybercriminals.

Understand How Cybersecurity Applies to You

The first step in protecting your business and customers is understanding that cybercriminals will try countless different ways and times to access your data.

It’s also important to remember that big corporations aren’t the only targets. Small and medium-sized businesses are at risk, too. According to the 2018 Verizon Data Breach Investigations Report, 58% of cyberattack victims were small businesses.

Educate your employees on the basics of cyber threats, like phishing and social engineering. Make sure they know the dangers of clicking on unsecure links or replying to emails in which the sender is posing as someone within your company.

And, to be on the safe side, consult with a third-party cybersecurity professional about your company’s strategy. Enlisting the help of a professional will ultimately make your operations more secure through the completion of risk assessments and other measures.

Know When to Abandon Existing Tools (Or When to Adopt New Ones)

Most companies implement standard cybersecurity software tools, such as malware protection and firewalls. However, hackers are constantly evolving their methods, and it’s critical to evolve cybersecurity efforts to prevent potential threats. Regularly re-evaluating and updating programs helps maintain a rock-solid security system.

For example, enterprises often rely on traditional antivirus (AV) solutions to secure devices, but hackers have created new ways to penetrate endpoints (computers, tablets, or mobile devices) without triggering these AV defenses. Implementing more complex endpoint detection and response (EDR) solutions allow security teams to continuously collect, record, and store endpoint data. EDR solutions provide surveillance-like visibility to help investigate past incidents or proactively hunt for threats.

Think Holistically – Playing Defense Is No Longer Enough

“Defense wins championships” does not apply in the league of cyber threats.

It’s time for companies of all sizes to realize that defensive tactics are no longer enough when it comes to modern cybercriminal approaches. Business leaders can get on the offensive by exploring new security tactics that incorporate tech, like automation and threat hunting.

Automated cloud security and compliance procedures are great ways to increase the safety of your cloud servers and your customers’ personal data. This automation process can enhance overall security through continuous monitoring, evaluation of threats, and blocking potential threats.

Automated security programs run checks against threat guidelines, including user privilege and monitoring against known security threats. Certain automation programs will also analyze any findings around potential threats for a company to review. And, in the event of suspicious activity, some programs are designed to instantly initiate the next step in cyber security protocol. This prevents any potential threats from penetrating a system and gives companies time to respond to the threat with human intervention.

The Next Steps to a Cybersecure World

As a customer analytics platform, we ingest and analyze billions, even trillions of words and phrases each year, and it’s our duty to guard our customers’ data. We’ve always been a security first organization, and we’re continuously looking for ways to improve and keep cybercriminals as far away as possible.

Stratifyd is constantly re-evaluating and updating our cybersecurity strategies in order to build a safe, trustworthy environment.

Every company has a role to play in the prevention of security breaches and data hacks. At the rate at which technology is advancing, let’s take a step toward a more secure future, together.

About the Author

LeMonte Gregory is the VP of Global Solutions at Stratifyd who enjoys adventure motorcycling, camping, and cheering on the Colorado Rockies.