‘Data’ is and always be the key aspect of every organization. Currently, every industry is depended on the data, whether it could be information about the company or the personal information of consumers. Thus, making it a necessity to be protected from any sort of external breach. Be it an IT sector or any, the data itself is known as the oil for the business and must be considered as one.
The year 2020 was the one, where people were forced to stay inside amid COVID-19 pandemic. It was a silent chaos effecting many lives, resulting in social tension and political unrest. Along with this, one more issue emerged creating a lively tension in sphere of cyber security. Last year a Texas-based mid-size company SolarWinds faced hacking dilemma in its update, where a malicious program hidden inside the new update which apparently was Trojan horse enabled the accessibility in company’s data. It led hackers to interfere with petabytes of almost 18,000 private companies, including government sectors.
You must be thinking why SolarWinds has raised so much concern in the industry. Recently a similar attacked was witnessed in the biggest software development company Microsoft’ mail systems, the motive of attack was to gain access to the consumer’s activity to steal the data of various businesses. Due to such attack, Microsoft has issued an emergency patch which is closely tracked by the U.S. Government, as the chance of similar malicious activity could be experience in future. This emphasizes over the fact that every C-suite executive must indulge themselves in creating cybers strategies as these sort of hacks could led to substantial loses to the company as well as to its users.
Data improves the quality of people’s lives; an effective data-base system enables very company to improve people’s lives quality. The data allows various companies to measure the possible efficiency of any desired strategy. These strategies helps one and his/her company to tackles the challenges, this data allows C-level executives to design a strategy by taking data as a reference. Moreover, the data helps to determine the problem, and allow leaders to come up with reliable solutions to it. The reference-data can be tallied with to the current situation which will allow to generate more specific and accurate theories.
If a company decides to invest their time and assets in an innovation, there the data plays an important part. This data analysis will allow company to look into its efficiency of the innovation such as high-performing programs and requirements of the users. One’s organization might have needed data and also the expertise one require for its analysis.
As a say, ‘modern problems need modern solution’, the importance of implicating cyber security in the organization will help to tackle such digital attacks. It has been seen that many budding start-ups or mid-size level companies are focused on creating more business than adapting a reliable security model. But, they must understand, as collecting and storing data is important so is its protection. After such instances, we can say that the upcoming leaders will be focusing on cyber security.
In the business world the cyber is considered as the secondary in term of importance factor followed by the managing or storing data and development. As highlighted above, the data is the oil which will and is driving the business to its utmost stature. The reports suggests that IDC forecasts that the universal data will almost be 175 zettabytes—1 zettabyte is one trillion gigabytes in the year 2025. A different forecast by a different entity also suggests that in next five years the market value addition of cyber security sector will be USD 100 billion which will make the total market value USD 280 dollar.
Moreover, if seen in detailed the data is continuously created with every search, post, like, comment, the time spent by user on the site, errors, IoT tracking data, conversion rates and other, which are managed and monitored for better user experience. We are surrounded by data ingesting tool in the form of mobile phones, computers, cloud-based IoTs and also phone linked smartphones, this products are mostly made by the large conglomerates. Hence, the responsibility falls upon these big companies to keep such data secured, protected and breach ridden. Upcoming gen of IT start-ups might harness this data in creating Artificial Intelligence model for making the lives of people easier.