Today’s organizations rely on data for critical insight into their activities and their results. Digital transformation has turned data into an asset that generates as much value as revenue, profitability, or the customer experience.
Customers, partners, and users are entrusting more data to the companies they purchase from than ever before. The average enterprise has to collect data on customers, vendors, stores, logistics, products, processes, and people just to function. That means deploying a database filled with names, addresses, financial information and other unique identifying information. It is no wonder that data security has a renewed focus from most CIO’s.
Organizations use that data to improve the customer experience, attract new investors and boost profitability. Now competitors can do the same, as new illicit marketplaces dedicated to selling the competitions data have surfaced.
Customers, partners, and investors share their data with the expectation that organizations will do everything in their power to protect it. Cybercriminals who break into corporate networks and steal users’ data can monetize that trust by threatening to reveal sensitive data to outsiders. They can even go directly to the victims whose records they breached and extort them.
Successfully protecting that data requires a multi-layered cybersecurity posture which must include both detection and prevention-based solutions in order to keep sensitive data out of the hands of cybercriminals.