To classify the information you hold, is very important to identify it’s value. Any data that resides within your company or personal that sits around without any classification stays unorganized or scattered. These scattered information can posses high risk of being lost or taken and that is why Data classification is essential to understand its contents and sensitivity. Here are some of the few reasons why one must classify data.
1. Data Security : Sensitive information such as financial information, personal identifiable information or trade secrets can be given level of highest security. In-order to access these information it is very important to have access control or data encryption in place.
2. Compliance : There are many regulations in place today such as GDPR, HIPAA or PCI to help your organizations be in compliance so you remain safe doing your work or business.
3. Efficiency : Data classification enables organizations to identify and prioritize the data that is most critical to their operations. This helps them allocate resources, such as storage, backup, or disaster recovery, more efficiently and effectively.
4.Risk Management : Classification of information is an important tool for assessing and managing risk associated with data. By understanding the sensitivity organizations can identify the potential risk and take measures to mitigate them.
Therefore protect your assets before it leaves without your knowledge. Implementing Microsoft 365 Security is the first foot forward in bringing data under regulations.