Today, even small businesses collect and store an overwhelming amount of information. And with data breaches occurring all the time, it’s more important than ever that this information is properly secured. But with different databases and systems in place, it becomes easy to lose track of exactly what information you have.
Having a complete picture of your data will not only leave your business in a far better position to respond to a breach, but can help you grow in a number of ways. Properly organized consumer data is incredibly helpful for market research and data analysis, giving you a better sense of who your customers are and why they are working with you. Classifying your data can even help you save money on storage if, for instance, you are holding on to too much or redundant data.
Here are a few steps you can take to help get a better handle on your data and make sure its protected.
Take an Inventory
The first step to securing your data is to know exactly what you have. There is a variety of information that most companies collect and store. Proprietary and financial data, employee records, personally identifiable information (PPI), and personal health information (PHI) are all examples of some of the different types of data you may be storing. Consumer data is often covered by a variety of privacy regulations, so tracking what states and countries your customers reside is also important. Taking the time to complete a comprehensive inventory of what types of information you have, where that data is stored, and how it is transferred will go a long way to making sure your systems are secured.
Rank by Sensitivity
Not all data is created equal. You might want to share some of your data with the world, where others will be regarded as highly sensitive. Ranking your data by sensitivity will help you keep track of what level of security you need for certain types of data. A ranking system commonly used is: public, internal only, confidential, and restricted. Of course, all companies are information systems are unique, so be sure to take the time to create a sensitivity ranking that makes sense for you.
Define Controls
Once you’ve classified your data by sensitivity, you need to create security controls and procedures for each category. More sensitive data requires more advanced protections, where low-risk information may only need lower-level protections.
Access restrictions are also essential to securing your data. Not all of your employees will need to access all of your information. Define access based on the level of the information’s sensitivity and the employees that need to utilize that information. You can also create time-sensitive access that will restrictive the availability of data after a certain amount of time.
Regularly Re-Evaluate
Information and technology is constantly in flux. The types of data, its value, and who should have access to it will change regularly, and it’s important that your organization changes with it. Periodically re-evaluating your classification system and security controls will help you stay on top of data.
Data Classification: It’s Good for Business
Keeping track of your data will benefit your company by not only making your data for more secure, but will also allow you to determine what you can do to streamline your operations and make your business more efficient.
