Data loss can be costly and easily avoided. Companies that fail to protect customer data are often the targets of large fines. A data classification strategy is one of best ways for companies to identify and protect the most valuable data.
We continue to see companies fail to recognize the importance of critical data. This data inventory is often not well understood despite all the technology and procedures. Instead of solving the problem, bureaucratic processes tend to do a lot of work. This blog post will focus on the most important data assets for data loss prevention, namely confidential and personally identifiable data.
Data Governance must be built around classification. Governance and security measures should be sized according to the data class. Companies don't need to spend time or resources protecting data that is classified either as internal or public. These data classes are not at risk of being lost or disclosed.
Data classification is more an art than a science. Our method distinguishes between business terms (business attributes) and data objects, which are physical copies. Data classification starts with classifying the business attributes in accordance with your internal information security policies.
Although all that definition and determination takes time and effort, many people find it too difficult and start their projects with incomplete and inaccurate rule sets that do not govern their Master Data. The PiLog Technical Dictionary Content is a Master Data Content Accelerator and gives Master Data Projects the foundation they need to begin Classifying, Managing, Governing Master Data the very first day.
Content is the most important component of any Master Data effort, or any data effort. PiLog spent over 25 years developing and refining its Technical Dictionary and Taxonomy.