Data loss can proved to be costlier phenomenon especially when it involves sensitive data. So it becomes extremely crucial for organizations to critically analyze those areas which are heavily involved in data loss occurrence and to proactively develop and initiate measures to substantially prevent and minimize the data loss costs. KPIs help to identify and quantify the key areas with the help of a balanced scorecard.KPIs in this regard can be categorized in 4 perspectives- Data loss issues, Human initiatives, Technological initiatives and Data and system management initiatives.Data loss issues include KPIs such as human errors, technological failures, natural disasters and data and system management failures. This perspective indicates the % data loss from different factors in an organization.Human initiatives are the measures taken by the management to efficiently prevent data loss errors of the employees. It constitutes of technological training sessions, motivational programs, percentage employees with authorized access and number of supervisory checks.Technological initiatives refer to technology related measures to improve data security and handling. It comprises of KPIs like backup programs, encryption, virus and spy ware detection and automated alert technology systems.Data and system management initiatives are measure to improve data storage and security. It includes data integration, secondary storage, average time period for up gradation of systems and percentage of systems with verification password.
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Data loss refers to losing of data by an organization via natural or unnatural outlets in an unalarmed manner. Since these events have characteristics of being 'sudden' and 'inevitable' in nature, the only solution that remains is to create ample back-up systems so that data can be recovered in time.
Types of data loss often faced are 'intentional data loss' (deliberate deletion of program or file), 'unintentional data loss' (misplacement of content by mistake), 'data loss due to disaster' (fire, earthquake, flood), 'data loss because of failure' (corruption of data, hardware or software crash) and 'crime' (theft, worm or virus attack).
Out of these, human errors and hardware breakdown constitute for a large chunk of problems confronted in organization.
The reason for preventing data loss is the huge amount of costs that is incurred in any such event. Various costs involved are 'cost of working or managing without data', 'cost borne in re-creation of data', 'financial expenditure that occurs in case of notifying users in case any such instance occurs'. Appropriate technical solutions are utilized by organizations for minimizing data losses as in extreme cases, such happening can even spell a doom for the organization.
One can follow the steps and movements that occur in the way by framing a scorecard for this purpose.
This is the actual scorecard with Data Loss Dashboard and performance indicators. The performance indicators include: data loss crisis management, data loss issues, human errors, technology failures, natural disasters, data and system management failures, human initiatives, technological training sessions, motivational programs, % of employees with authorized access, number of supervisory checks, technological initiatives, backup programs, encryption, virus and spyware detection, automated alert technology systems, data and system management initiatives, data integration, secondary storage, average time period for upgradation of systems, % of systems with verification password .
Download a trial version of Data Loss Estimation Balanced Scorecard or purchase a full version online.
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