This is an Exclusive Guest blog by Mr. Ratan Dargan, Co-founder & CTO- of Thoughtsol Infotech– India’s one of the leading IT solutions and service providers.
The Indian economy is going through fast-paced reforms and growth in digital infrastructure. As a result, enterprises are adopting cutting-edge technologies like cloud computing, advanced AI data analytics, edge computing, augmented reality and virtual reality, the Internet of Things (IoT), and many more in order to stay competitive.
And today, every technology, whether digital or conventional, will require a cloud platform to function. This is where cloud technology has evolved from being a facilitator to becoming a game changer and a key driver for corporate growth, innovation, and agility. However, with great power comes great responsibility, particularly when it comes to data security and compliance.
There is no denying the fact that data is the most precious asset for businesses and their clients, and it needs to be secured from unwanted access. Insightful data analytics combined with always accessible and protected data promotes business innovation, boosts customer satisfaction and loyalty, and, most importantly, provides a competitive edge in the market. However, balancing security and regulatory considerations has proven challenging, considering how quickly data is processed and stored. Therefore, to safeguard data in the cloud, organizations must carefully consider strategic planning, ongoing commitment, and constant vigilance to ensure they meet regulatory requirements and protect sensitive data from unauthorized access or breaches.
Cloud Data Protection Regulations: A promise or peril
The cloud has undoubtedly evolved into a transformative force rather than merely a technology. As a result, numerous organizations have adopted it at an exponential rate. According to the EY-FICCI report, in a bid to offer a variety of business capabilities such as intelligent applications powered by Gen AI, native functional and data products, and highly intuitive orchestration platforms, 80% of Indian enterprises utilize the cloud. Furthermore, as more businesses embrace cloud computing, data protection regulations have become a critical concern.
While the cloud offers numerous benefits, such as scalability and cost efficiency, it also poses risks in terms of compliance and security. Organizations must navigate these challenges to ensure they meet regulatory requirements and safeguard sensitive information stored in the cloud. Whether the organization runs their workload in a public cloud, a private cloud, a hybrid architecture, or a multicloud with various cloud providers, they must adhere to data regulations and maintain the security of their data from breaches. For instance, ransomware attacks have been added to the list of attacks, and cybercriminals’ schemes are continually evolving due to the usage of modern encryption techniques. According to a report by Sophos, 73% of the surveyed organizations in India suffered from ransomware attacks.
Noncompliance with data regulations and subsequent breaches can result in monetary damages and brand authority damage. Thus, the use of encryption techniques, control over location and the implementation of strong security measures to protect sensitive information from unauthorized access or data breaches has come forth as the need of the hour.
Tips to safeguard data in the cloud
Data Encryption: Data encryption is one of the most effective techniques to protect data in the cloud. By encrypting data before storing it in the cloud, it ensures that even if unauthorized individuals gain access to the data, they will be unable to read or use it unless they have the encryption key. This provides an additional layer of security and aids in maintaining compliance with data protection rules. Furthermore, continuously updating encryption methods and employing powerful encryption algorithms improves data security in the cloud.
Control over location: Recognizing the importance of various forms of data that businesses collect, handle, and store is paramount. Thus, businesses can have a better awareness of where their data resides and who has access to it by ensuring that data is housed in certain geographic regions or data centers. This can assist companies in complying with data sovereignty rules and ensuring that data is protected in accordance with the organization’s standards. Furthermore, having control over where client data is stored can help limit risks linked to potential legal or regulatory concerns in specific regions.
Evaluate built-in security: security and access control are critical components of cloud data compliance that must not be disregarded. Organizations should carefully consider the built-in security protections provided by their cloud service provider to decrease the risk of unauthorized access or data breaches. Encryption mechanisms, multi-factor authentication, and frequent security audits are all part of this. Organizations should also ensure that their cloud provider has adequate data backup and disaster recovery processes in place to protect against data loss.
All Things Considered!
In today’s modern world, data is unquestionably one of the most valuable commodities that must be safeguarded at all costs. As a result, organizations should focus on their internal security measures to complement the security provided by the cloud service provider. This includes educating employees about best practices for data protection, regularly updating software and systems, and implementing strong password policies. By taking a holistic approach to security, organizations can mitigate risks and ensure the safety of their data in the cloud.
