Cybersecurity and Business Analytics: Protecting Data Integrity

Cybersecurity includes all the measures you take to protect your programs, systems, and networks. Modern hackers are capable of launching increasingly sophisticated cyberattacks that target unprotected vulnerabilities to access sensitive data. Business analytics security relies on data to generate actionable insights for business leaders.¹

Customers expect—and regulations often demand—that you protect the sensitive information in your system with data security measures. A data breach can lead to stiff legal penalties, financial losses and damage to your overall brand.¹

This article will explore data security in business analytics, including measures businesses take to keep sensitive data secure from unauthorized access.

To effectively protect data in your business operations, you should adopt comprehensive security measures that include multiple layers of defense. This method is called defense in depth, and the premise behind it is that if one of your security features fails, others will still protect your data.² A defense-in-depth strategy may implement different security measures, including the following:

When you encrypt data, it becomes unreadable code that can be deciphered only by a device with a digital key. Even if hackers access your data, they can’t read it without the key, so it’s still protected. For maximum protection, all of your data should be encrypted while it’s being transmitted and when it’s being stored.³

Access controls are among the most important ways to protect sensitive data, such as customer information. Role-based access control lets you limit who can see, use and change data in your systems based on their job or position. Customers may have access only to their own data, while some analysts may have access to all of your customer data.⁴

A widely used way to block hackers is through multifactor authentication (MFA). Because usernames and passwords, including strong passwords, can be easily accessed by malicious actors, MFA requires another means of authentication, such as a code sent to your smartphone. This extra layer of protection means that even if a hacker does obtain your password, they can’t access your account.⁵

Vulnerabilities are flaws in a software program that malicious actors can exploit to gain access to data or otherwise manipulate your system. Updating your software isn’t just a good idea to get the latest features. Software updates often include security updates to protect against new threats as well.

When a security flaw is discovered in a piece of software, developers will often release a patch to fix it. Applying patches as soon as they’re released is critical for keeping your data secure. Unpatched vulnerabilities are a major cause of data breaches, accounting for 14% of all data breaches in 2023.⁶ In fact, an unpatched vulnerability caused one of the largest-ever data breaches–the 2017 Equifax breach that exposed the private data of 147 million customers.⁷

Other measures for avoiding security incidents include network security controls such as firewalls, which block unauthorized traffic from accessing your computer network, and intrusion detection systems, which identify and respond to security threats.²

Antivirus software protects your system from viruses and other types of malware. Advanced systems continuously scan for suspicious patterns and activity.²

Physical security controls remain a key method of data loss prevention. Implementing company-wide physical security practices can help keep your critical information from falling into the wrong hands. Sample policies include requiring that employees don't store sensitive information on their laptop computers or flash drives and that physical files are stored in a locked file cabinet.

Data analytics play an essential role in cybersecurity. Analysts can use historical data to identify cyberattack trends and pinpoint areas of weakness. Predictive analytics are statistical models that can be used to perform a cybersecurity risk assessment, uncovering areas where a security breach is most likely. Businesses can monitor activity and use behavior analytics to spot unusual user actions that could signal a security threat.

Regardless of what type of analytical model they use, analysts rely on high-quality data to draw valuable conclusions. Data integrity analytics ensure that they’re working with current, accurate and relevant data.⁸

Given the prevalence of cyberattacks, all businesses should have a plan to ensure business continuity in the event of data theft or other loss. Your business continuity plan outlines the steps you’ll take in the event of a security incident, including how you’ll continue to function and serve your customers.

An effective business continuity plan will include data backups so you can continue to access your data in the event that you’re blocked from it because of ransomware or some other type of disaster. Ideally, you’ll have multiple copies of your data stored on-premises, off-premises and in the cloud.

Securing data needs to be an organization-wide priority. Everyone needs to be trained on how to protect their personally identifiable information and prevent socially engineered attacks and phishing attempts.⁹

Your plan should outline how everyone in your company will identify and remediate cyberattacks, including how they’ll work to maintain your core business functions during and after an attack.⁹

Due to the risks involved with data breaches, governments and industries are passing regulations that mandate that companies take specific measures to ensure their data is protected.

The regulatory landscape is already complex, as businesses must comply with industry-specific regulations and laws such as the European Union's General Data Protection Regulation (GDPR). Businesses that don’t comply may face hefty fines and other legal penalties.¹⁰

Modern businesses rely on data to make informed decisions about all aspects of their operations. Data security in business plays an important role in protecting an organization’s proprietary and sensitive data.

An Online Master of Science in Business Analytics from William & Mary will equip you with the skills you need to extract insights from your data and transform it into information that drives your business’s success. The highly-ranked program is taught by industry experts, and you get the benefits of a world-class curriculum from the convenience of your own home.

Learn more about the admission requirements and speak with an admissions outreach advisor about any questions. Begin your journey to business analytics leadership today.