In today’s digital environments, data security threats are a constant and growing concern for organizations of all types and sizes. As technology advances, cloud adoption increases, and remote work or “work-from-anywhere” scenarios become the standard, the risks associated with data breaches, cyberattacks, and unauthorized access to sensitive information have grown exponentially — and so have the costs associated with them.
The WinZip® Enterprise team recently conducted a survey that revealed growing concern about the number and complexity of cyber threats faced by businesses today. Accordingly, there is a urgent need for organizations to address these data security risks promptly and effectively.
Read on to explore the reasons behind the escalating concerns about data security threats and discover the corresponding measures that organizations can take to mitigate these risks.
External security threats versus internal security threats
To fully safeguard against data security threats, organizations must stay vigilant against both external and internal threats.
Malware, phishing attacks, ransomware, and hacking attempts — any security breach or attempted breach that originates outside the organization — falls under the umbrella of external threats.
Internal threats, on the other hand, involve security breaches that start inside the organization itself, and they may involve unauthorized access by employees, contractors, or disgruntled insiders, or even a purposeful leak of information by an authorized party. In addition, internal threats may be less malicious in nature and arise from human error, like poor or weak passwords or improper security configurations.
A solid understanding of the different types of common data security threats is crucial for implementing appropriate security protocols and strategies.
Big data, the cloud, and the inherent data security risks
You are no doubt aware of the concept of big data and the potential it holds, both for your organization in particular and the technology realm as a whole. However, with great potential comes great challenges, especially in regard to maintaining data security.
These vast amounts of data collected, analyzed, and stored pose a unique risk, since big data is an attractive target for cybercriminals seeking to exploit vulnerabilities in data storage and processing systems. Protecting big data requires robust security frameworks that address all the complexities and potential vulnerabilities associated with its storage, transfer, and analysis.
Big data security threats are not the only challenge that has recently arisen. Cloud vulnerabilities and the associated potential data breaches are a growing issue, and with more organizations choosing to leverage the cloud the associated
The current state of data security
As part of the recent survey, organizations rated their current state of data security. Their responses showed a substantial lack of confidence with their current data security, which highlights the need for organizations to regularly reevaluate their security strategies and ensure that they’ve made the necessary updates and improvements to protect their valuable data.
To improve the condition and strength of their security, organizations are increasing their budgets, spending more on items like training for both end-users and IT administrators. After all, educating all team members about best practices for data protection and raising awareness throughout the organization about potential threats, companies can help to significantly reduce the risk of human error or negligence leading to security breaches.
In addition, investing in advanced security tools and technology can provide more comprehensive protection against emerging data security threats and vulnerabilities.
Why investing in data security is more important than ever
In response to escalating threats to data security, many organizations are ramping up their efforts and budget allocations for data security. In 2023, global data security spending is projected to reach nearly $219 billion, a 12.1% year over year increase from 2022 according to the International Data Corporation (IDC). And that number is only likely to grow as new threats arise. This significant increase underscores the growing recognition among organizations that investing in robust data security measures is imperative for their long-term viability and reputation.
Staying informed about emerging data security risks
Among the measures being taken by security-savvy organizations is ongoing education for IT professionals and end-users alike. To stay ahead of evolving data threats, professionals must continually educate themselves about the latest challenges and associated technologies.
According to the survey, many professionals rely on industry reports, publications, and advice from leaders and experts to stay informed. By actively seeking knowledge and staying updated on security trends and issues, organizations can adapt their security strategies and make informed decisions when selecting new security solutions and developing new strategies.
Choosing the most advantageous security solutions
When seeking new solutions to help handle any current or future data security threats, organizations must consider multiple factors. For instance, solutions that offer comprehensive protection, advanced threat detection capabilities, and robust encryption methods will form a strong foundation for a solid data security strategy. What’s more, solutions that help to mitigate emerging issues, such as challenges related to big data and security threats to cloud data can help to future proof an organization’s data security measures.
Implementing cutting-edge technology, empowering IT teams with real-time threat intelligence and information, and other proactive defense mechanisms can help prevent data security threats from turning into actual data security breaches.
Data security threats pose an ever-growing concern for organizations in today’s challenging digital landscape. Risks associated with cyberattacks, data breaches, and unauthorized access to sensitive data demand proactive measures to safeguard valuable information. What’s more, by investing in security training, adopting advanced security solutions, and staying informed about emerging threats, organizations can protect their valuable data assets from malicious actors and maintain their competitive edge.
Access the full report to gain deeper insights into the constantly shifting landscape of data security threats and download your trial of WinZip® Enterprise to discover more about protecting your organization from today’s data security threats.