Cloud Computing: Limiting Risk

Cloud computing has clear advantages, learn how to mitigate security risks

Cloud Computing has revolutionized the way of doing businesses. More and more firms are opting for cloud services these days due to the various benefits they provide. Initially, cloud computing was limited merely to storing additional data such as contacts.

But the scenario today has changed entirely. Cloud computing services have taken the responsibility of the majority of core business data. This is because of the simple reason that these services have lessened the workload of business enterprises to a great extent. Today, the firms do not need to employ an entire IT department to look after the data of the company. This job is easily done by the cloud service providers who store and manage the data for the firms. Moreover, they also provide guidance form expert IT professionals on how to manage data.

What is Cloud Computing?

Cloud computing refers to the storage of data by business firms and other organizations with a third party known as Cloud Service Providers (CSPs). These CSPs store your data in their data centers at a different location. Companies can access this data through the internet.

Advantages of Cloud Computing

● Saves IT Costs:

As mentioned above, a company doesn’t need to maintain a team of IT professionals to store and maintain its data. All these tasks are handed over to the CSPs. This saves a lot of cost for the company.

● Better Storage Space:

Cloud Computing provides great storage space. Moreover, this storage can even be increased as per the company’s requirements. This would have required a great deal of effort and infrastructure otherwise.

● Professional Help:

CSPs not only provide storage services to their clients. They also provide expert guidance to the companies regarding the management of data. This works as an added advantage for the companies.

Risks Associated with Cloud Computing

Since every coin has a flip side, this one is no exception. There are loads and loads of risks that come along with Cloud Computing. If not paid proper attention these risks may engulf entire business entities. The damage can be so vast that it could not even be undone.

Therefore, one should be very cautious while choosing to transfer the data to a cloud network. Today, we are going to discuss the risks of Cloud Computing and how can we avoid them to make the best use of this inevitable service.

Top 5 Risks of Cloud Computing Service

1. Loss of Data:

The foremost risk that is faced by companies using Cloud storage is loss of their extremely valuable data. This loss can either be temporary or permanent. Cloud Storage Providers do not only store data of one company. They have data from many companies stored within their systems. In such situations, it might be possible that the data of one company may get replaced by other company’s data. Not only this, but data can be lost in a variety of other ways. For instance, hackers can delete your valuable data on purpose. Apart from this, data can also be lost because of human error.

How to Avoid Such Risks

● Take a backup of your data on other cloud services. Don’t just rely on one CSP.

● Sign agreements with cloud service providers on data restoration, backup, and other security policies.

● Know about all the threats that may lead to loss of your data and take effective measures to prevent them.

2. Non-Compliance with Regulations:

CSPs are often found not complying with the regulations that prevent businesses from data loss and effective measures they can take. In certain situations, small firms also do not know much

about the regulations. This makes them more vulnerable to such risks. Firms should make sure that the CSPs that they opt for data storage should comply with all the policies and regulations.

How to Avoid Such Risks

● Choose only those CSPs which adhere to all the rules and regulations.

● Don’t make all your crucial data migrate to the cloud service. Assess your risks.

3. Service Denial:

A firm should know that CSPs deal with multiple clients. This means that if an attacker attacks the resources of one company, it may affect the data of all the companies associated with that Cloud Service Provider. This may lead to a denial of service of other clients as well.

How to Avoid Such Risks

● Ask your service provider about provisions for retrieving cached data after malicious attacks.

● Is your provider capable of increasing the bandwidth against DDoS attacks?

4. Data Breaches:

Stealing of crucial data by hackers is another major risk that accompanies Cloud Computing. Even big organizations such as World Wrestling Entertainment (WWE) have faced this data breach. Therefore, it is very necessary to select those service providers who provide better security control.

How to Avoid Such Risks

● Avoid using applications which are not specified by the service providers.

● Install anti-malware, authentication, and encryption in personal devices to protect your data.

5. Insider Threats:

Intentional or unintentional threats posed by employees also result in a breach of data. Your employees might unknowingly share files which are pivotal to the organization. This can also happen purposely. This use of your data inappropriately may bring a lot of loss to the company.

How to Avoid Such Risks

● Employees must be well trained so that they do not share valuable information with other sources.

● Multifactor authentication can be effective in data theft.

Measures to Avoid Cloud Computing Risks

● Take Limited Risks:

It is advisable to take limited risks. This means that companies should not be entirely dependent on storing and managing their data. They should also put in efforts to personally store data to avoid complete data loss in case of any mishap.

Zero Trust Model:

Zero trust model approach means that every user, a system must be properly verified before giving access to the company’s systems. Restricting users from unauthorized access can prevent your data to a great extent.

● Learn from the Past Failures:

There are many large and small firms that have faced huge data losses in the past. Learn from their failures and make sure that you don’t repeat the same mistakes again.

● Encryption:

Encrypting your information through complex algorithms can protect data loss very effectively. However, small companies do not pay much heat to such measures. Consequently, this becomes fatal for the organization.

● Keep an Eye out:

Keeping a regular check on the management of your data and changing encryption codes regularly. Assessment of the level of security being provided or firewalls being used can contribute significantly to prevent a data breach.

Any business takes a lot of efforts and investment. Data has proved to become one of the most valuable and powerful assets of any company. Everyone wants more and more data, and this has led to an increase in the number of the data breach as well. Therefore, prevention of crucial

information has become the need of the hour. Few cautious steps can prevent companies from falling prey to such attacks. One just needs to be careful enough when using Cloud Computing Services.

Source: https://thebossmagazine.com/cloud-computing-security/