Market Research’s Post

In the current era of data-driven operations, organizations encounter multiple hurdles in effectively managing information. The risks linked to mishandling sensitive data, encompassing security breaches, non-compliance with regulations, and potential harm to reputation, have become more pronounced. To alleviate these risks, organizations must acknowledge the crucial role of mapping the information life cycle within their risk register. The information life cycle encompasses the entire journey of data, from its origin to its ultimate disposal. It encompasses crucial stages such as data creation, processing, storage, sharing, and destruction. By charting this life cycle, organizations gain a thorough comprehension of how information flows within their systems and how it is handled throughout its entire lifespan.  1. Identifying Vulnerabilities and Risks 2. Enhancing Data Security 3. Ensuring Regulatory Compliance 4. Facilitating Data Governance   Mapping the information life cycle in the risk register is a crucial measure for organizations seeking to protect their data, mitigate risks, and comply with regulations. It offers a comprehensive perspective on how information flows within the organization, enabling the implementation of effective controls and measures at each stage. By acknowledging the significance of mapping the information life cycle, businesses can enhance their data governance practices, reinforce security measures, and establish a robust foundation for efficient information management. #isms #Informationlifecycle #riskassessment #informationsecurity #compliance

Consider the following steps: 🔹Mapping critical data as most companies lack visibility into their critical data, including its existence and exposure; 🔹Labeling and encrypting internal confidential data; 🔹Classifying and labeling confidential data so employees know which information is most sensitive and educating them so they can manage and mitigate potential risks associated with the data. #data #criticaldata #labelling #dataclassification #encryption #dataencryption #datamapping

A report released today by the Governance Institute of Australia, Data Governance in Australia found a majority of respondents surveyed were not positive about how their organization manages and protects important data, with 57% describing it as ‘average’ and 4% as ‘poor’. The report’s findings are based on a survey of 345 CEOs/C-suite executives, non-executive directors, and senior governance and risk professionals It also found that more than half of organisations do not have a data governance framework, mostly due to lack of capacity or resources. Key findings include: Almost 60% say the board does not have an understanding of the organisation’s current data governance challenges. The standout risk around data governance is cyber-attacks, followed by emergent technologies and AI. Siloed data holdings, underestimating the value of data and not having proper data governance frameworks are key issues for organisations in 2023. A third of organisations don’t have data governance on the risk register. Just under a third of organisations regularly purge data, mostly on an annual basis. With increasing cyber-security incidents targeting sensitive data in enterprises resulting in reputational risk, loss of revenue, regulatory compliance issues its imperative that organizations invest in data governance for effective data management. #datagovernance #datamanagement #cybersecurity #dataintelligence

With the rise in cyberattacks and data breaches in recent years, it's more important than ever to keep your EHS data secure. Learn how to recognize and safeguard your organization's sensitive data. #EHSdata #DataSecurity https://hubs.la/Q02qWTPT0

Operational vs Functional Knowledge - What's the difference and why is it important? 📚📑 Empowering our staff with knowledge is at the heart of our commitment to data protection and security. But it's not just about knowing the basics; it's about understanding how to apply that knowledge effectively in our day-to-day operations. 🧠 Functional Knowledge: Understanding the fundamental principles and ideas is crucial. From confidentiality to the importance of accurate data management, these principles form the foundation of our approach. But let's face it - not everyone has received consistent or accurate messages about data protection and security. That's why we conduct regular assessments to ensure our staff are aware of key issues and equipped with the right knowledge. 🛠️ Operational Knowledge: Knowing the "how" and "when" is just as important as knowing the "what." Our staff need clarity on what is expected of them, whether it's securely sharing sensitive data or knowing who to contact in case of a breach. 🗝 Accountability is key. 🗝 When our staff understand what constitutes acceptable behaviour, they can confidently fulfil their responsibilities. Providing clear policies, relevant training, and the necessary support to ensure success is absolutely essential. By equipping our staff with both foundational and operational knowledge, we're building a culture of accountability and resilience. 💬 Join the Conversation! Whether you're an expert or just dipping your toes into the world of data protection and security, I'd love to hear from you!! Share your challenges, thoughts, and ideas in the comments below. Your comments aren't just contributions; they're game-changers! Whether you're sharing challenges, inspiring ideas, or sparking new insights, your input fuels our journey towards better data security practices. Together, we're not just brainstorming - we're co-creating solutions that make a real impact. #DataProtection #DataPrivacy #InformationGovernance #Training #Empowerment #Compliance #knowledgeiskey #knowledgeispower

🔔 Alert: 60% of boards in Australia lack understanding of data governance... top 3 pro tips: 👨🎓 Educate - Conduct tailored workshops and bring in experts (consultants) to clarify data governance concepts and their strategic impact on the organization. 📜 Report - Regularly update the board with comprehensive yet concise reports highlighting the current status, risks, and opportunities in data governance. 📈 Demonstrate ROI - Show clear examples of return on investment from effective data governance in the form of case studies of organisations in the same space. This includes risk mitigation and enhanced decision-making capabilities. Lack of understanding poses a huge risk in today's cyber landscape, and it's hard to justify investment in something poorly understood. Also, it sounds like over half the organisations lack a data framework... I hope that doesn't include organisations that hold my info ... #DataGovernance #CyberSecurity https://lnkd.in/gpqp2H2U

Whilst this is focussed on Australia, the issue is global. From the short time I’ve been back in the UK I’m amazed that even though BCBS 239 has been around for a long time, organisations still have not realised that without an organisation-wide obsession with good quality data the future, especially with the explosion of AI, is bleak indeed. How will you train those models? Reach out if you need help at Exco and Board level to create an obsession with data quality.

Are you guilty of a laissez-faire approach to your data? It’s time to wake up to the risks! Schellman CEO Avani Desai dives into why executives need to prioritize comprehensive data protection programs in her article in Solutions Review. With the average cost of a data breach soaring, it’s no longer a question of if, but when. Tap below to read the article.

Data Security is a key trend in IT again this year. Please take a look at my latest blog on how Sensitivity Labels can enhance your organisation's security posture and also foster a culture of responsible data handling and collaboration. Sensitivity Labels are just one of a number of Data Loss Prevention techniques particularly relevant to industries with strict regulatory requirements such as Healthcare, Finance and Legal Services. Read more here... https://lnkd.in/eKMcT-2u

Are you worried about accidental data leaks in your organization? Read our insightful blog and discover why fostering data loss awareness is crucial for managers. Learn actionable strategies you need to implement to mitigate risks and protect your business reputation ⤵️ https://lnkd.in/e9exB6-f #dataleak #dataprotection #dataloss #VIPRE