Understanding how to store data effectively is a big task for business

Data is without question the most important asset the majority of firms hold, but few know how to protect it, store it and back it up effectively.

Malcolm Marshall, head of UK information security practice at KPMG, recently said that companies are currently facing a “perfect storm” because they hold more data than ever before and often don’t know what to do with it.

This he said was putting them at risk of a whole host of new security threats.

Greg Day, EMEA (Europe Middle East and Africa) chief technology officer and director of security strategy at Symantec, agrees with these sentiments but also believes that firms must weigh up the costs of retrieving items if a disaster or data breach happens and then ensure they have the most versatile system in place.

He said: "With the changing market, as more and more people rely on using devices for information, it is important for businesses to realise which data needs to be both secured and backed-up and take the necessary steps to ensure this is done.

"Also, with the explosion of information, often doubling year on year, businesses cannot continue to back-up everything, regardless of its value, so if a disaster does happen retrieving the information they need is an arduous task costing time and money.

"Businesses need to be able to de-duplicate their information to make it more manageable. In some instances this can reduce data by up to 90 per cent."

According to Ernst & Young, data breaches cost UK businesses somewhere in the region of £26 billion during 2011, £17 billion of which was related to intellectual property being stolen.

For some companies the cost of a single breach can range from £300,000 and £700,000. This includes the cost of notifying their clients that data has been taken plus the financial outlay needed to ensure the problem never happens again.

Breaking news from ihotdesk, IT security solutions in London.

Posted by Steven Gaskill