Necessity of cyber security and risk management in today's digital era

The present era can be referred as a digital era as well which has created various opportunities for organizations to conduct business and deliver different services over internet. Organizations are very rapidly embracing social media, cloud computing, mobility and persuasive computing. This provides new opportunities and helps organization improve their efficiency level. However, increasing cyber-attacks in this digital era is putting organizations valuable and prized assets, their data, at risk. The risk and challenges in the area of data security, privacy has become a matter of concern and act as one of the major barrier of organizational growth. Each and every business organization must be always concerned about such attacks and simultaneously need to manage security across an array of applications and infrastructure, in spite of remaining always open and connected at the same time to their customers and outside world. 

Cyber Security is basically a practice that helps organizations minimize risks, help security operations in an effective manner and also to achieve regularity for enhancing their own business network. This (cyber security practices) enable organizations to proactively protect their critical information and data assets against emerging threats. It is very necessary nowadays to systematically evaluate technologies that can protect their data privacy and other confidential information’s and ensure continued compliance in the fast-changing threat landscape and regularity environment.

The information security setup comprises applications across multiple platforms and infrastructure such as servers, workstations, switches, firewalls, etc. which faces ever-sophisticated attacks, with a rising frequency. This setup, however, is extended with cloud, mobility and, social media, etc. the more it is exposed to vulnerabilities and attacks. It is a fact that security breaches can have significant and wide-ranging impact which may be of different forms i.e. in the form of financial losses, lowered reputation of well-known organizations. Therefore, the common or point security solutions are often found to be inadequate in handling and tackling the growing threats. Organizations are therefore migrating from point solutions to a well-managed security service relationship for a holistic approach to reducing cost and improving their security maturity. Cyber security practise help organizations to build and adopt a robust framework in order to overcome and prevent threats and attacks against data privacy and security. Cyber security deals with risk management by providing several benefits such as helping organizations by providing different operations and security controls, best solutions possible for governing a better security. The benefits may be several. Some of them may include robust information protection which helps protect the critical information assets of the organization even if the IT system expands to include several social medias, cloud-based services, mobile applications; provides cost effective response that helps organizations to quickly detect the incidents and act on it as fast as possible in order to ensure better protection against attacks such as DoS(denial-of-service) attack, advanced threat attacks, hacker attacks, malware attacks, email attacks, fraud related attacks, IP spoofing, authentication related attacks, deep dark web, third parties and suppliers, salami, etc. In other words, we could say that cyber security and risk management offers a well-managed security, vulnerability management, data and information protection and privacy, managed security operation centre, fraud management and digital forensics, authentication security and checking which may include identity and access management, public key infrastructure using cryptographic techniques, network security, etc. However, this concern about security over computers and internet assists the organizations to have a proper and well-developed security architecture design, implementations of control, efficient IT Governance, improvement in maturity of security operations, issue resolution, audit of the procedures, immediate response to incidents and breaches, regularity in terms of security check up and management. Risk management and cyber Security also enable organizations and enterprises to adopt control framework to leverage social media, mobile, and cloud based applications with customized threat intelligent architecture design.

Therefore, cyber security and risk management can have an immense future scope which will keep growing its phase as the time passes by in the world full of technology. The huge usage of Internet has made it compulsory to be always aware of attacks and security related issues, any organizations or enterprise it may be. Care and concern about cyber hygiene will always prove itself to be very beneficial. This will provide advantage and growth of the organizations and also the organizations will benefit from it. New innovation in the field of security may prove itself to be a very remarkable one indeed.

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