October is Cybersecurity Awareness month and Stephanie Fox, Head of Security Solutions discusses the high value of our data and the steps we need to take to protect it.
Data has become an extension of ourselves. We worry about who has it, how it’s used and what can go wrong if it falls into the wrong hands. For businesses, data means a better understanding of their customers, the ability to understand how their business is performing, to make better decisions and effectively solve problems. As a result, it is the single most valuable commodity in today’s business world.
The downside is that it is also a highly valued commodity for cybercriminals. By stealing information like your identity, bank or credit card details, they can cause disruption, sell data on the dark web, commit financial fraud, launder money, commit espionage and extortion to name a few.
Placing value on your data
All organisations know what data they hold and what it’s worth; but few consider its true value should it fall into the wrong hands and be used against them. Placing a value on it, enables organisations to put in place protection that is both relative to the size of their organisation and appropriate cost placed on it to the value of the data they are trying to protect. Think of what you do when you insure your luxury watch for more than it’s worth!
Steps to securing your data
Regardless of business size or industry, there are key areas where companies can invest time, budget and resources to improve their data protection:
- Data Governance – companies can establish a data governance policy or framework which defines how they manage, process, and secure their corporate data. This will include the roles and responsibilities of all members of staff who may access these assets. This helps to provide a unified corporate response on how to handle data assets and provides a centralised compliance model for ongoing Data Security governance.
- Data Classification – by classifying data based on how valuable, important or sensitive it is can greatly improve your security position. Classification enables organisations to label their assets and set up rules to automatically manage and secure distinct types of data properly.
- Frameworks and Certifications – not every company has an appetite to go through a rigorous exercise of aligning their internal processes to an Information or Cyber Security Framework. They can be mistakenly seen as be a prohibitive cost to in terms of design, implementation and ongoing governance. Again, true value and not cost should be the main consideration. Most organisations will operate at around 70-80% of any security framework, simply by adopting best practices. By aligning to these frameworks or certifications, you automatically inherit the extensive knowledge of the security experts who defined these standards. As an organisation, you are enhancing your reputation by showing your customers and suppliers that you are committed to keeping their data secure.
- Education – New ways in which data and systems can be disrupted continually present themselves in a world of rapidly changing technology. Our best means of defence is our people. We must educate those who access our data, to be able to recognise the new threat and attacks that may occur. People and technology are a partnership, one without the other is less effective and it is vital that we continue to develop it through education and building knowledge.
Prosperity 24/7 is committed to our investment in security and proving our credibility as a security conscious organisation. By achieving our ISO27001 certification, we have implemented a robust Data Governance framework, complemented by skilled individuals who manage it, and supported by the technical and process driven security controls protecting our organisation. This investment means we are well placed to support other organisations to do the same. Think about the most valuable asset in your life and the lengths you would go to, to protect it. Why would you not do the same for your data? Your organisation’s most valuable asset.
This article first appeared in the Jersey Evening Post’s Worklife Supplement in October 2025
