By Ranggi R.
Published on April 20, 2023
Organizations have embraced the technologies to keep relevant. Thus, every business has digitized its data in the digital era to increase efficiency. However, with all these advantages, new forms of risk also emerge. This type of risk is considered a digital risk.
Get to Know Digital Risk
Digital risk is when digital transformation results in consequences that are unwanted, causing disruption that impacts the business. It is all unexpected by all organizations when adopting new technologies.
Digital risk varies in forms. There are 5 types of digital risks that can cause consequences for organizations in every sector, listed below.
1)Cyber Security Risk
Cyber attacks or crimes, as discussed in this article, are examples of cyber security risks. This risk relates to unauthorized access to assets, data, or information of organizations. An organization should prevent this risk. Otherwise, data breaches may occur.
This risk occurs when the organization does not follow the latest regulations or rules that cause this risk.
Many organizations have migrated to cloud computing. It seems like cloud migration has become mandatory in business. However, this also introduces new risks associated with the cloud in particular. Whether public, private, or hybrid cloud, it has its own risks in each.
Supplier. Contractor. Vendor. Service Provider. These are known as third parties, and when an organization works together with or outsources to a third party comes with risks.
Intellectual property, data, or sensitive information is vulnerable to third-party risks.
There’s no denying that automation has reshaped the tech industry. Unfortunately, automation itself also has negative impacts, such as a lack of resources, government problems, and others.
What is The Difference between Data Privacy and Data Security?
Data privacy and data security play an important role in preventing digital risks. Data privacy is more about collecting user data, especially sensitive data to ensure the authenticity of the information. Meanwhile, data security focuses on protecting the data collection process.
Businesses use data privacy to protect their customers’ data rights and prevent criminals from accessing and misusing data.
How Data Security Affects Data Privacy
Online businesses and organizations gather data about things like credit cards and bank accounts. Users cannot regain their data protection without data privacy.
In case customers want to protect their credit card or data from cybercriminals. They are able to authenticate and delete the account. mainly because the group has accurate data.
Manage It the Right Way
There is no other way to avoid the worst case than to mitigate the risks coming to our digital things. Although managing digital risks takes time, it will be totally worth it.
“Manage It the Right Way! There is no other way to avoid the worst case than to mitigate the risks coming to our digital things. Although managing digital risks takes time, it will be totally worth it.”
Always understand the threats and anticipate the potential threats before your business has to face them. Take action by storing data in a trusted cloud storage provider.