Quantitative risk assessment requires calculations of two components of risk, the magnitude of the potential loss, and the probability that the loss will occur.” Based on this definitions, there are even mathematical models to calculate the actual probabilities, magnitude and loss of calamities and disastrous events
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Everywhere you turn today you hear about various instances of data loss and data breaches, all of which lead to a general sense of data insecurity. These issues range from loss to theft, or even taking of personal information or corporate trade secrets
The second insight showed that the principal obstacles to moving to the cloud remain the same: availability, security and data loss
The first priorities should be to assess the scope of the breach, to immediately stop any ongoing data loss, and to preserve evidence and documentation about the breach. Internal IT personnel should be mobilized to determine the cause of the breach and to take quick steps to halt further damage or loss of information
Doing so will not only mitigate the risk of regulatory and statutory penalties and consequences, but will also go far in preventing an unnecessary erosion of employee or consumer confidence in the organization as the result of a breach or the loss of sensitive data
Instead, the project went into a complete loss and also half-baked implementation adversely affected the operations
The definition of “data breach” is defined broadly to include “a breach of security leading to the accidental or unlawful destruction, loss, alteration, unauthorized disclosure of, or access to, personal data transmitted, stored or otherwise processed
While most companies recognize the presence and importance of this illusive, yet valuable, dark data, particularly when it comes to handwritten fields, many are still not leveraging it, and instead information is either being ignored, or manually entered, leading to errors or loss
It is pretty clear that a “data loss” type issue here with a 6 million dollar a day price tag and severe impact on the business, this had to be resolved and done so “yesterday