Data security is the comprehensive process of protecting corporate data at every stage of its life cycle to prevent corruption, theft, or unauthorized access. It encompasses various elements such as hardware, software, storage devices, user devices, access controls, administrative measures, and organizational policies and procedures. The primary goal of data security is to ensure the availability of data to authorized personnel within the organization.
In recent years, the prevalence of data breaches and cyberattacks has intensified across industries, impacting companies of all sizes, irrespective of the sensitivity of their data. Notably, in 2023, global cyberattacks surged by nearly 20% compared to the previous year. To counteract these threats, data security involves deploying tools and technologies that enhance an organization’s visibility into the location and usage of critical data. A robust data security management and strategy process enables organizations to safeguard information against cyberattacks and minimize the risks associated with human error and insider threats.
Data Security is Inevitable Now
Numerous factors underscore the importance of data security for organizations across industries. Legal obligations mandate organizations to protect customer and user data from loss or theft. The ongoing digital transformation has revolutionized how businesses operate, leading to an exponential growth in the volume of data, including cargo pricing, and a heightened need for data governance. Simultaneously, consumer awareness regarding data privacy is on the rise.
The escalating demand for data protection has led to the enactment of various privacy regulations, including Europe’s General Data Protection Regulation (GDPR) and the California Consumer Protection Act (CCPA). Additionally, existing data security provisions such as the Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), and Sarbanes-Oxley Act (SOX) aim to protect shareholders from accounting errors and financial frauds. The business value of data has never been more significant than it is today.
Key Components of Data Security
Key components of data security include encryption, access controls, regular audits and monitoring, employee training, and data backups. Encryption ensures the unreadability of sensitive data without the proper decryption key, crucial for protecting data during transmission and storage. Strict access controls limit data access to authorized individuals through user authentication, role-based access, and monitoring access logs for suspicious activities. Regular audits and monitoring help identify anomalies and potential security threats. Employee training is essential to minimize human errors, with a focus on recognizing phishing attempts and adhering to security policies. Regular data backups are critical for disaster recovery and business continuity planning.
As cyber threats evolve, staying ahead requires continuous adaptation and updates to security measures. In an era where data plays a vital role for organizations, ensuring its security is non-negotiable. Every individual, from end-users to enterprises, plays a crucial role in maintaining the integrity, confidentiality, and availability of data. Through a combination of technological solutions, best practices, and a proactive approach, the complexities of the digital landscape can be navigated while safeguarding information.
Data Security at RTS
At RTS, adherence to key principles of data security is a priority for the entire team. Our solutions Velocity (Cargo Revenue Management), AcceleRate (Cargo Pricing) and Foresight (Cargo Network Planning & Sales Budgeting) are built using key security principles that is supported by firm policies and periodic employee security training.
RTS holds ISO 27001 certification, providing a framework for creating an information security management system to identify and manage risks. Additionally, RTS is certified and compliant with SOC1 Type I, SOC2 Type II, and GDPR. These certifications demonstrate RTS’s commitment to maintaining the highest standards of data security.