Will 2015 Data Security Be Different Than 2014?

The year 2014 will be remembered for sensitive security breaches with hacks against Sony Pictures and leaked photos of high-profile entertainers from Apple’s iCloud. These data breaches have caused many people to question online security and if it can be improved. So, will 2015 be any different?

Breach Insurance

In 2015, expect to see more and more businesses offer breach insurance to their customers. This would cover any expenses or losses caused by hackers into your personal mobile device or from a company’s computer system. Whether it’s healthcare, retail or restaurants, the threat of a customer’s sensitive information is great enough for businesses to cover themselves and their customers, or to at least provide security for any repercussions from a breach.

Insurance for cyber breaches into your personal data isn’t new. In fact, it has been exponentially growing for the past two years, mostly due to cyber threats. And, after the high profile breaches in 2014, there most likely will be a knee-jerk reaction by many businesses to cover themselves if such a thing happens to them.

This type of insurance isn’t limited to large corporations, either. Even small businesses are realizing they may need coverage. For example, small healthcare businesses that transfer medical data into a digital form are small businesses that are likely to see a spike in breach insurance coverage. Furthermore, 76 percent of companies that suffered a cyber breach admit the damage was just as bad or worse than a fire or earthquake, which shows how much it can disrupt your business, explains an article in USA Today.

Additionally, with the growing number of businesses allowing a bring your own device (BYOD) program, even mobile service providers are getting on board with added security features. For example, T-mobile offers Samsung smartphone owners the ability to enroll in their JUMP! program, a handset protection plan that equips users with added personal information protection through Lookout Mobile Security.

Encryption Security

Many regular business expenses may take a back seat to data security on the priority list in 2015. Expect to see more businesses shift their budgets to implement data encryption to their internal digital systems and beef up security against hackers. RCRWirelessNews cites a Spiceworks IT survey that claims that more than half of companies said data and network security tops their budgeting priorities for 2015.

A special type of encryption, called visual cryptography, may be the new obsession for IT departments this year. The encryption technology helps cloak sensitive information in images so that only the right key will allow users to access the internal data. Many banks and healthcare businesses have already started installing these securities to their networks. This shows that more businesses are going above standard industry compliance to make sure their networks are better protected.

Cloud Computing

Despite the threat of breaches, businesses and individuals still see the value of cloud computing. Gartner, an IT research and advisory firm, states that cloud computing will be the biggest chunk in IT spending by 2016. Overall, businesses are not looking for alternative ways to store their data, but rather are investing in more security. According to Market Research Media, the cloud computing market is predicted to reach $270 billion by 2020. So, despite the high profile cyber breaches of 2014, 2015 may just prove that your data is safe after all.

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