Tag Archive | "Data"

Business Sense Oct. 2021

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Business Sense: Better Data Leads to Better Business Decisions

Posted on 15 October 2021 by cradmin

By Katherine Gifford of Moraware

Have you ever heard the saying “garbage in, garbage out”? It’s the perfect description for when you overlook the information input part of your process. If you aren’t thinking about how and why you are entering job info into your job management system, then you won’t be able to pull those insights that will really make an impact.

For this topic, we consulted Kim Duda, an independent consultant that helps Moraware customers get the most from their software for ways that you can get more out of your data.

Uncertainty Is Hard
If we learned anything from the recent pandemic, it’s that not knowing where your business stands in an emergency is scary. Remember 2008? Kim was working in the industry for a fabrication company during the crash of 2008, and she watched a lot of her friends not make it to the other side. That’s why it’s so important to get your shop organized and in a good place sooner rather than later. You don’t want to be left shell-shocked.

“I’ve witnessed this type of thing, and a lot of shops are in reaction mode,” Kim says. Her goal is to help you make it, and one way to do that is to get more out of your data. “If nothing else, the biggest thing I can help with is showing you your data in a meaningful way that can help you make better decisions moving forward,” she says.

Good Data In, Good Data Out
If you’re using software in your shop like CounterGo or Systemize, and aren’t putting accurate information into the system, there’s not a whole lot anyone can do to pull the right information to make meaningful changes.

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Data Breaches Among Top Concerns for SMBs

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Data Breaches Among Top Concerns for SMBs

Posted on 19 September 2019 by CRadmin2

According to Tirena Dingeldein, blog author for popular software-vendor directory Capterra, data security has emerged as a main concern for small to medium sized businesses. For small businesses, even a single breach can be crippling. However, there are steps you can take to stave off these threats, keeping your data and your business safe and secure.

According to research conducted by Capterra in 2018, 71 percent of SMBs now use data security technologies, and data security is in the top three priorities for technology spending in the next two years.

Some business owners believe that they do not possess enough data to justify purchasing security software, and some believe that their data simply isn’t important enough to be targeted by criminals. The fact remains that even large companies can lose substantial amounts of business and revenue because of a data breach. Some of these large companies barely survive. Just think of how much damage a data breach can do to a small business.

The fact of the matter is that nearly 60 percent of SMBs fail within six months of a data breach after losing tons of money each month along the path to ruin. In addition, tech criminals see small businesses as easy targets, and an investigations report by Verizon backs this claim by finding that small businesses make up 75 percent of data breaches.

IBM calculates the cost of a data breach by record. For each record compromised, it costs a business approximately $148. This cost represents what an SMB will have to spend in the recovery process. Kaspersky Labs has also conducted a cost analysis, and this software company estimates that a single data breach incident will cost $120,000.

The following three steps are crucial in mitigating the risk of a security breach:

  1. Purchase and implement data security software – This usually takes three forms: network security software to scan and monitor intrusions and vulnerabilities, data loss prevention software to help a business manage sensitive data and computer security software to provide file access control.
  2. Purchase data breach liability insurance – In the event of a data breach, insurance can be invaluable in covering all the associated costs. Insurance can help pay for a variety of losses, including lawsuits and brand cleanup, and it can be reasonably priced for SMBs.
  3. Create a response and recovery plan – If the unthinkable occurs, and hackers get through your data security software, it can help immensely to have a plan of action already prepared.

For more information on protecting your SMB from a data security breach, please see the original article on the Capterra blog.

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