[BreachExchange] Why ‘Data Hoarding’ Increases Cybersecurity Risk

[Audrey McNeil]

http://cloudtweaks.com/2017/02/data-hoarding-increases-cybersecurity-risk/

The proliferation of data and constant growth of content saved on premise,
in cloud storage, or a non-integrated solution, poses a challenge to
businesses, in terms of both compliance and security. This is not helped by
the estimation that 80% of content most businesses have is unstructured. A
general lack of understanding of how to manage the data and a reluctance to
delete content, leads to ‘data hoarding’ and businesses seem unaware of
what data is present and what value it holds. There is also confusion
regarding management and governance.

Scattered content, regardless of where it is stored, poses a major security
risk. Most businesses are unaware which data set is sensitive and will
likely not have adequate measures in place to secure it against
cyberattacks. Any security technology that is implemented to keep data
secure cannot be effective unless it is clear what data is of value. For
this reason, document classification must dovetail with security processes
to identify, record, and potentially encrypt content in order to keep it
safe both within and outside the firewall.

Unless companies embrace the power of open thinking and a new pragmatic
approach to security, data breaches are going to become the “new normal”,
leaving companies to deal with the inevitable fall-out and impact on brand
reputation. Every business is now contending with the interplay between
making information instantly accessible to a range of users and keeping it
secure against malicious attacks.

Information stewardship is the key to maintaining a hold on the burgeoning
data in today’s digital age, using individual business insights to inform
decisions to implement processes that streamline the flow of data and
improve user experience. Content must be correctly identified, categorised
and deleted (where appropriate) to keep the problem of data proliferation
from spiralling out of control. These decisions must be made by agreements
between both high level executives and IT departments. Information
stewardship cannot be solely the responsibility of either, and should
instead be a cohesive approach. A successful breach could have lasting
financial and reputational ramifications and so this internal collaborative
approach has to be a priority and shared responsibility.

When identifying a solution to the problem of data hoarding, businesses
must also keep the end users in mind and implement processes that allow
them to access the content they need, when they need it, to ensure a smooth
workflow. The solution must also allow collaboration to facilitate
innovation and improve efficiency. Putting users’ requirements at the
centre of the process ensures the best compliance with processes. In turn
this streamlines and secures data.

To address the challenges that businesses face, an enterprise grade
platform is needed rather than a product that has been fitted for use, to
at once provide agility but must be constantly updated. Platforms that are
Open Source, with thousands of “white hats” who can help fight the “black
hats,” will help companies secure their most precious resource –
intellectual property. Transparent, open systems by their very nature are
hardened to prevent future breaches. For every new encryption or password
management point solution enterprises put in place, there are likely
hundreds of hackers (many from state actors) figuring out a way to
compromise those security countermeasures. Enterprises need more brainpower
to stay one step ahead; otherwise, they are just going to experience these
breaches over and over again.

The deluge of data shows no signs of abating. Managing and extracting
intelligence from data that is growing in silos will remain a challenge –
not only will this information decrease in value, it will hamper decision
making and increase in risk. Embracing open thinking and information
stewardship will enable content to be identified, classified, curated, and
governed throughout its lifecycle. Thus promoting business agility, better
decision making and reducing the risks of data hoarding.
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