Your business is awash with data - Big Data in fact - and, if you don't handle it correctly, you could get into trouble: fines by the Information Commissioner and the FSA for data security breaches are steadily increasing. The proposed EU Data Protection Regulation will add more responsibilities and increase the fines even further.
To identify the issues relevant to you, consider the following:
- Do you have a data policy? Does this include how to reduce the impact of data leaks?
- Do you actively manage your collection, usage and storage of data?
- What solutions do you have in place to address the problems of "Big Data" in your business?
- Do you use passwords, encryption or tokenisation to protect the data you hold?
- Do your contracts address data security risks?
- Have you identified the best IT solution for your data: On-premise? Public cloud? Private? Hybrid?
- Has your IT/cloud provider clarified how they will protect your data? How are you managing that relationship?
- Is it important for you to keep your data in the UK or EU? If so, what is your policy on business use of iPhones and Gmail?
- Does your business continuity plan work and can you get your data back if all goes wrong? Are you sure?
- Does your insurance policy cover you for data issues?
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
