Business intelligence, also referred to as BI, is an umbrella term for application, infrastructure, and tools used in the business world to optimize the performance and decision-making. It helps business owners make sure their company’s moving in the right direction while it allows marketers to keep up the pace with the recent trends and products currently available on the market. Still, the omnipresent BI also leads to bigger security risks. This means that it can be viewed as a double-edged sword that can do you more harm than good if you use it recklessly.
The risk of valuable data being stolen
The bigger the business, the more data there is to be stored. And today, most of the large companies choose to have all of their data stored in one place. The goal is to have all the data available in one place in order to be able to use it when making big business decisions, such as launching new products or starting a marketing campaign. While this may be the most effective way to store and use data, it also opens the door to cyber thieves and hackers. If such valuable information is stolen, not only does a company end up without their valuable information, but the wrongdoers can use it as they see fit. It’s also important to mention that most of security threats come from the inside of a company.
Use of mobile devices
There’s no need to say that mobile devices have seen quite a rise in popularity during the last couple of years. This means that employees today bring their own mobile devices to work while still using PCs and other devices while at the office. Such a combination poses a threat to the safety of the entire company. With this being said, there’s only one option available to business owners – developing comprehensive BI policy. A policy like this is supposed to encompass data storage, user classification, data transmission, and data classification. This is something all large companies have to implement and it helps them keep all of their data safe. Still, a BI policy may not always be enough to keep a business completely safe and further security measures have to be employed.
All the security measures
With so many risks out there, it’s very important for business owners to choose the right BI software for their company. Luckily, there are so many great tools, and with the right business intelligence software, keeping all the data safe is much easier now. It’s also common for large companies to employ access controls in order to keep their data safe. This can help reduce the time waste and reduce the risk of faulty analysis results. Furthermore, a lot of people in the business world tend to take advantage of data de-identification. This allows them to strip all their data of personal information, such as names and addresses. When it comes to credit card companies, they use technique called tokenization. This allows them to use data tokens that point to personal info stored in an external database.
The bottom line
It’s safe to say that BI plays a huge role in running a business. Still, with all the data leaks and hacker attacks we hear about, it’s necessary for people in business world to take action. Their security vulnerabilities need to be identified and dealt with. While this may be a costly and daunting task, it’s absolutely necessary to invest in it. Also, even once a company has all of their data secured, it still doesn’t mean they no longer have to think about improving their security. Wrongdoers are constantly coming up with new weapons and there are always new security measures to be employed.
Dan Radak is a marketing professional with eleven years of experience. He is currently working with a number of companies in the field of digital marketing, closely collaborating with a couple of e-commerce companies. He is also a coauthor on several technology websites and regular contributor to Technivorz.