Thanks to rapid digitization, we are creating petabytes of data every day! Businesses are flooded with more customer data than they ever had. This provides businesses with an opportunity to analyze the data and gain insights that can help them tweak their go-to-market strategies, offer personalized customer services, and fuel business growth. That said, the same data brings huge responsibility for the businesses in terms of ensuring its safety. Therefore, in today’s data-driven world, it is important for businesses to harness the oceans of data effectively not only for competitive advantage but also to fight ever-evolving cyber threats
Threats are evolving
Technological advancements have also provided cybercriminals with sophisticated tools to orchestrate complex cyber attacks. Criminal tool kits and ‘expertise’ is so easily available on the darknet that even ‘aspiring’ criminals can inflict heavy losses to customers and businesses alike. This makes it even more imperative for businesses to equip themselves with smart data-backed solutions that can help them ward off the evolving threats.
Leaning on technology
Businesses can lean on artificial intelligence, machine learning, and big data analytics to gain deep insights from the oceans of data they have and filter out bad actors before any substantial loss is caused. Machine learning is particularly effective in the fight against cyber threats, as it helps unravel hidden patterns that may not be visible to the human eye. Connecting these dots together, businesses can effectively unearth potential threats and take timely preventive action.
A long road to cover
While these advanced technologies have the potential to tackle the menace of cybercrime and help solve some of the most pressing problems, there are practical limitations to their implementation. Until concerted efforts are made to make technology accessible, businesses will only keep playing the catch-up game against a tech-savvy opponent.
The article has been written by Neetu Katyal, Content and Marketing Consultant
She can be reached on LinkedIn.