Businesses operating in the retail sector are among those at the forefront of the big data revolution right now, as the growing number of online and physical transactions they carry out continues to generate vast swathes of information they are able to draw upon to colour their future decisions.
However, with this significant wealth of information comes a range of difficulties, not least of which is managing the risk of malware infiltrating IT networks, gaining access to sensitive corporate or consumer records and associated data destruction.
Ross Brewer, vice president and managing director at LogRhythm, told Info Security that cyber criminals are now increasingly turning their attention to the retail sector when focusing their attacks, as these companies are seen as potential cash cows should their security systems be thwarted.
However, Mr Brewer stated a focus on the little things could hold key benefits for businesses in reducing the risks they face, as any new type of network communication encountered, such as malware attempting to phone home or a malicious actor attempting to exfiltrate data, can be a warning sign that all is not well.
“Regardless of the increasing sophistication of cyber threats or the growing amounts of data generated by retail organisations, it is undeniably best practice to be constantly aware of the smallest changes that occur across the IT network,” Mr Brewer argued.
“Retailers need to be able to recognise these changes of behaviour as they happen, allowing them to identify and stop attacks before customer data is compromised.”
Indeed, research recently published by retail sector analyst IMRG revealed the coming festive season is predicted to be the strongest for online sales among UK retailers ever recorded, with a 20 per cent jump in transaction volumes this year in comparison to the same period of 2013.
Overall, 45 per cent of UK retailers said they expect their trading volumes to grow by one-fifth or more this festive season, meaning the amount of data this will create for businesses will be significant.
For peace of mind that end of life data is permanently destroyed, contact Kroll Ontrack for cost-effective and compliant end-of-life data erasure solutions.