Data security refers to the collection of all processes and technologies employed to safeguard data of an organization from external threats, as well as cyber-criminals. These include everything from encryption and data masking, to automated reporting and redaction that simplifies audit procedures. These tools help organizations protect against data breaches by ensuring only authorized users have access to the data and detecting unusual actions. They also offer a layer of protection from human error which is one of the main causes of data breaches.
The goal of data security is to guard customer information, trade data as well as other business data from being accessed by cyber-criminals and falling into the wrong hands. It also assists companies in maintaining compliance with the regulations and avoid costly fines, lawsuits, and damage to reputation.
Access controls are an essential form of data security that restricts both physical and digital access. This means that all devices and computers require password protection and only authorized personnel can enter physical spaces.
Authentication is the process of accurately identifying individuals prior to allowing them to gain access to data. This can be achieved through the use of something that the individual knows (e.g. an account password) or has (e.g. security tokens) or is (e.g. fingerprints).
Backup data is a key element of any data security plan. This guarantees that in the event of a system failure or disaster, or even data corruption, you will be able to retrieve your information. It is also important to periodically purge backups of data that is not needed anymore.