With the implementation of the European Union’s GDPR regulations, companies are now placing a heightened emphasis on data security. However, even if your business doesn’t cater to EU clients, the significance of data security remains a primary concern. Consider the potential repercussions if customer data leaks from your network or premises. This includes the exposure of private information about your employees or sensitive details from vendor contracts.
While common practices like implementing robust passwords, two-factor authentication, and group policies are crucial for data protection, it’s essential to question the necessity of retaining all the data in your possession.
Certainly, some data holds significant value for your business. Yet, there’s likely a considerable amount that doesn’t contribute meaningfully. If you were aware that certain information, which no longer serves a purpose, is still present on your network, you would probably delete it without hesitation. For instance, retaining billing information for current clients is wise, but what value does the billing information of former clients, who ceased business with you years ago, bring?
Remember, data that you don’t possess can’t be stolen. Therefore, it makes sense to assess and eliminate data that poses more risks than benefits. Here are a few categories of data that might fall into this unnecessary and risky realm:
Personal Identity Information (PII)
Evaluate the legal necessity of retaining easily identifiable data like Social Security numbers, credit card numbers, or medical information. If there’s no legal requirement, discarding such data can substantially reduce risks.
Very Old Data
As data ages, its value to your company may diminish, but the risks associated with keeping it may not decrease. Old data takes up space, is often less protected, and can escalate discovery costs in legal situations. Be selective about retaining very old data.
Unused Data
If a specific set of data on your network has gone untouched for years and lacks compelling legal or business reasons for retention, it’s likely worth discarding.
By being mindful of the types of data you retain and focusing on the necessity and benefits, you can significantly enhance your data security measures and reduce unnecessary risks to your business.
To learn how WingSwept can help your company reduce risk and improve business outcomes through the use of technology, call us at 919-779-0954 or email us at Team_WingSwept@WingSwept.com.