May 25, 2020

5 Sectors That Benefited Most from Data Security Software

5 Sectors That Benefited Most from Data Security Software

Our modern economy is driven by digital technology. Businesses are powered by an interconnected network that transports data from one point to the next - all in pursuit of convenience.

However, as both basic and classified information shuttle between multiple environments, security can sometimes give way for speed. Hackers know this and have found a way to use this security gap to their advantage. In fact, these hackers attack every 39 seconds.

If there is one takeaway from this number, let it be this: all businesses should take a more active stance towards data security management.

Of course, naturally, there are some businesses that have more to gain from data security solutions than others. What exactly are these business sectors and are you one of them? We’ve listed the top 5 below - keep reading.

  1. Fintech

Banking, trading, investments - as explained in Why is Automated Data Discovery Important to the Financial Sector? are businesses that need technology to provide transparency and enhanced security to their customers. Understandably, they are also businesses that need data security software the most. After all, financial data is one of the most valuable resources - and hackers are always clamoring for it.

Take bank apps, for example. These take note of your spending habits so that they will be able to provide better financial advice to you if you need to apply for a loan. This level of sensitive data, of course, requires extra care and security. An unauthorized third party, say a hacker, who can access this, will be able to use this information for identity theft, among other crimes.

2. Healthcare

Now let’s talk about financial records and their increasing allure to hackers everywhere. After all, a single breach will yield a hacker plenty of information regarding multiple people - which then translates to more money for them.

With the health sector slowly adapting to digitalized processes, a person’s medical record becomes more accessible to cybercriminals. There have been multiple data security laws implemented, but it is still up to businesses to strictly observe them. This includes data encryption as well as two-factor authentication. However, if the healthcare sector wants to be more updated in data security concepts, then this is where a data security software will come in handy.

This is tackled more in-depth in the blog post Why is Data Security significant in Healthcare?

3. Transportation

Think about it: you disclose your location, your home address, and your place of business regularly to your Uber driver. The transportation business uses this for location-centric offers - but will hackers have the same magnanimous intention? The answer heavily leans to the negative.

If someone were to access this information, they will be able to easily map out your regular routes and follow you around. This in itself should be reason enough for businesses to put up an extra tier of security to their customers’ data.

A data security software will be able to assist companies in protecting customer data and call the attention of data privacy personnel in case of any suspicious activities.

4. Education

Even at a young age, we teach children the value of good financial decisions in the hopes of honing them for a more comfortable and responsible adulthood. We explain the value of paying back their friends so that the banks will trust them to take out loans in the future; or give them a higher credit score.

All of this work can easily be toppled over by a single security lapse from the education industry. School data contains all the information needed by identity thieves. Children will be impacted by this without them being privy to what a data breach is in the first place.

So, to give the children the best chance as adults, the education sector will be doing all parties a huge favor by taking the necessary steps in tightening their securities. If you belong in this sector, let one of your first steps be the implementation of a robust data security tool.

5. Retail

Retail is already one of the most unpredictable sectors as it is. With trends quickly coming and going, retailers need to enforce extra vigilance in keeping their customers satisfied. Ensuring security is one such way of going about this.

As mobile payments become the norm, retailers need to be able to provide the guarantee of security to their customer base. Not only that but the shopping behavior of customers is considered valuable data as well.

Security: An Increasingly Important Currency in Today’s Economy

Data-centric threats have become one of the main challenges in today’s digitized economy. As daunting as it may be to think about the measures that businesses have to implement to secure their customers’ data, sometimes all it takes is a good and trustworthy tool to keep all parties at ease. Using data security programs is a solid step towards a safer business environment, while implementing backup software is another.

If you’re still on the lookout for a backup software for your business, we can help too. Check out the Best Backup Software – 2020 List of Top 10 Backup Software Tools.