Cybersecurity: Why Important for Business?

 

Today's fast-paced, technology-driven world, and internet powered highly integrated digital global networks which all became possible through smart devices, computers, big servers, Cloud Computing, technology of Internet of Things (IoT), computational power of Big Data, wireless enabled communication channels, smartphones, low orbital satellites, and now under the prevailing global online business challenges, the need for cybersecurity has become a paramount importance for all economic, business, and social sectors.

Having faced growing incidents of breaches and infiltrations of cybersecurity, affected businesses and institutions had to pay the heavy prices in the form of thefts of sensitive information, legal fines, misguided data penetrations and virus injections in the systems, disfunctions in networks, huge financial losses, and reputational damages, so, this list goes on.

It becomes next to impossible for all businesses and institutions to avoid dynamic, responsive, and secure web presence on local and international scale which helps them in increasing lead generations, conversion ratios, target customer outreach, profits, sales, revenues, corporate image building, and more importantly, reducing substantial operating costs of doing business.

Though, responsive websites associated with extensive use of internet have greatly helped companies, organizations, big institutions, research institutions, governments, hospitals, shipping, airlines, scientific laboratories, and much more, to expand operations manifolds on local and international levels, but these combining tend to face constant cyber threats by malicious actors who effectively use multiple deceiving technologies with the support of Artificial Intelligence to infiltrate defense system of websites, e-Commerce channels, computer systems, servers, internet integrated machines, equipment, unique identifiers, smartphones, laboratories, networking, and sensitive internet supported national installations.

Projection

According to the research of Statista, as of year 2022, the global average cost per data breach amounted to US$ 4.35 million, an increase from US$ 4.24 million in the previous year. The average cost of a data breach varied across sectors with the highest average cost in the healthcare industry.

Internet of Things - Cyber Attacks

There are strong probabilities to make the networks compromised and breached because under the technology of Internet of Things, all networks, smart devices, computers, machines, equipment, wearables, electronic gadgets, smartphones, appliances, hardware, software, identifiable objects, animals, and humans are connected and fully integrated through the sensor-based technology of IoT with the support of cloud computing.

You cannot rule out the disastrous consequences, in case, effective measures of cybersecurity are not completely implemented under the applications of IoT and service providers of cloud computing.

Big Data - Digital Assets for Hackers

You know that sensitive information of corporate entities, personal data, bank accounts, passwords, email addresses, home addresses, production and inventory databases of companies are valuable digital assets for cyber hackers because hacked information contains huge price tags for them.

Cyber criminals take advantage of weak system protocols and effectively leak sensitive information through social engineering tactics, spyware, adware, botnets, and deceptive emails.

You can imagine that there are vast oceans laden with digital goldmines in global cyberworld for cyber hackers to operate, who are well integrated and plugged in though internet in which numerous social, economic, and business entities generate massive amount of sensitive databases.

The major digital information creators include big corporations, banks, financial institutions, stock exchanges, private companies, airlines, news reporting channels, industrial facilities, manufacturers, government departments, hospitals, airports, transportation, supply chains, search engines, metropolitans, system of railways, social media, film industry and this list goes on, so, all these things combining generate thousands of petabytes of structed, unstructured, and semi-structed online data on regular basis.

To strongly protect precious digital information from cyber-attacks, it becomes extremely essential for all businesses, institutions, governments, and individuals to implement infallible cybersecurity protocols in their organizational setups and computer networking.

Cloud Computing - Cyber Attack Risks

To safeguard sensitive information and precious databases of enterprises and institutions which are mostly maintained and accessed through cloud service providers, so, it is extremely essential for cloud service providers to implement strong cybersecurity procedures in their setups.

Cloud hosting services maintain various servers, nonstop security of clients’ databases, huge networking of data centers for storing huge data of businesses, and they manage software, hardware, virtual machines, and cloud data storage, so, in case of poor cybersecurity measures, then valuable data of companies may be thieved and gone into the wrong hands.

Cybersecurity - Staff Training

With the constantly growing incidents of serious cybercrimes and online security breaches, it becomes important for every big, medium, and small businesses to effectively implement strong cybersecurity protocols, update antivirus software on regular basis, perform consistent network monitoring, and more importantly, impart in-depth education and training sessions for staff members of information security system.

To invest in education and training of staff members about cybersecurity pays well, reduces considerable costs, and provides Return on Investment in the form of secure and stable networking, servers, databases, computers, smart devices, manageable third party activities, monitoring and detecting issues at the end of poor cloud integrations.

Prominent Cybersecurity Techniques

To safeguard businesses, institutions, and other social entities from cyber-attacks, severe breaches, injection of dangerous viruses, trojans, worms, ransomware, adware, spyware, phishing, deceiving emails, infected attachments, and malicious software programs, following important cybersecurity tools and procedures are recommended for them:

• Network Security Monitoring
• Encryption Instruments
• Web Weakness Scanning
• Penetration Testing
• Antivirus Software
• Network Intrusion Detection etc.

Hope you have enjoyed this article! 😊