With all the buzz about infosec, have you asked yourself, why is information security important? Building your conviction of ‘whys’ should help you be more devoted to strategies and enforcement.
Information Security Today
Information security, infosec, or data security- is the act of protecting the vital data resources of a company. May it be data about the corporation, of its consumers, or of its third-party connections.
As they put it today, data is the new dollar.
Isn’t that true?
Without data, a business could not run. Because without data, you cannot engage well with customers.
Thus, losing data can mean bankruptcy to the worse state.
No wonder why most stable companies invest plenty of their resources into data security. Both into their physical facilities and networks.
But sadly, most companies, especially small-scale businesses, do neglect infosec.
Is it only luxury? Is it a waste of finances? Or do they believe they’re less prone to attacks?
In reality, no. Information security is more than just a business luxury. Because today, infosec proves to be a necessity.
Waste of finances? What’s more wasteful than reaping the consequences of negligence? Loss of customers? Loss of resources? Or the loss of operations?
Less prone to attacks? In reality, cyber attackers love small businesses. Because these entities tend to let down their guards. Not to mention, that in 2020, up to 28% of data breaches occur with small businesses.
So this post shall give you the main reasons ‘why is information security important?’.
By the end of this article, you should be more convinced of information security’s value.
Why Is Information Security Important?
Consider the reasons why information security is important.
It helps you be more compliant with the law.
Do you know how much negligence can cause you?
Consider how federal laws can charge you.
GDPR or the General Data Protection Regulation– the entity allows the EU’s Data Protection Authorities to issue fines of up to $24.1 million or 4% of annual global turnover. The rate depends on whichever is higher among the two.
CCPA or California Consumer Privacy Act– the entity by the California Attorney-General can raise civil penalties to any person, per violation. The rate depends on whether it is intentional or not.
- Intentional Violation– $7,500
- Unintentional Violation– $2,500
These two were just some of the active federal laws about data security. Thus, implementing standard infosec practices can save you from all the costs.
It can help you better prepare for natural disasters.
Who knows when will be the next earthquake, hurricane, and flash floods?
In fact, no one knows. Even if some do forecasts, but, are you ready? Is your business ready?
Natural disasters pose big threats to data centers. But not that much if you are prepared.
For instance, events like these do occur, then you can lessen downtime. Because you have your data reservoir ready. As a result, you can save time, resources, and cost. Most importantly, it can keep your data available even in disrupting events.