Why newly acquired businesses can increase data loss risks for a UK Company

Did you know that for some UK companies, data loss may not be caused by hackers or viruses? It may simply be a sign of a company not understanding the best way to use the data give across their entire infrastructure. One insurance company grew and acquired several centres as a result. But, no one had any idea of the risks they faced because of their acquisitions. Why should a UK company know their risks when it comes to data?

It is hard to prevent data loss if you do not know how to best minimise the damages or worse, deal with the threats that may cause data loss. How can UK companies’ best calculate their risks and take steps to safeguard computers from fire damage, water damage, electrical outages, and accidental data loss caused by an IT professional imputing code incorrectly. One of the best ways is to calculate the likelihood that the event will happen in a numeric figure. Do you know what the impact would be for the company and calculate that figure? Once you know the likelihood and the impact, it is easy to calculate the risk factor by simply multiplying the likelihood and impact together.

Breaking down the Risk

If a UK company wants to do well in the business market, they must adjust to change and assure customers that their data really is safe in the company’s database. Is a risk minimal if looking into the risks divided by certain sectors? How much is a UK company boss able to trust computer analysis and charts made by human estimates?

No risk assessment is going to be 100 percent accurate. But, the trick is to best assess the likelihood of occurrences by predicting the probability. The goal is to use these four categories to narrow the error margin. High probability is for those risks that are the most likely to occur and you could prevent. For those threats that are low-risk and may require low maintenance, it is best to accept. Containing is for those risks which have the highest probability of happening and they aren’t much of a security threat. The last category may be the most important when it involves data loss and recovery efforts, planning. Without a clear plan, the smallest data breach can become a sizable threat. This is why even the largest companies need a data recovery loss plan and risk assessment not only for themselves, but whatever is acquired.