Month: May 2022

Data – A significant decision-making factor for struggling retailers post covid

Posted on by cyber-security-blog

Data is a significant factor for retailers post-Covid, as it is not just crucial for the retailers to know the customer better but also to ensure that their IT infrastructures are secure and up-to-date.

However, as retailers struggled to stay afloat after the Covid breach, the retailers with outdated IT infrastructure or those who do not have one were the most vulnerable. This has shown them that they need to become more reliant on their IT infrastructures.

Therefore, in the post-covid era, retailers have become highly dependent on their IT infrastructures. They collect data from point-of-sale devices, customer loyalty cards, and other sources to make inventory, marketing campaigns, and pricing decisions. The retail industry needs to take proactive steps to maintain cybersecurity and manage data; this can be done by having a fully functional cloud management system and an IT infrastructure capable of leveraging data to grow their business.

Here is how data can help retailers move forward in the post-covid era:

Better understanding your customers

Much of a retailer’s most important data is stored in its IT infrastructure, but accessing that data requires the cloud. Now is the moment for merchants to make the switch to the cloud. Cloud management makes jobs and maintenance easier, increases operational uptime, and allows merchants to scale up and down in response to demand. It enables merchants to maximize the value of consumer data in order to develop customer-centric activities. Big data from cloud-managed networks may be mined for granular insights and utilized to improve in-store consumer interaction, generate value-added experiences, and, most critically, meet customer health and safety requirements.

Personalize customer experiences

Once a cloud-based infrastructure is in place, the key is feeding that data into machine learning and artificial intelligence (ML/AI) technologies to develop personalized experiences and forecast future spending trends. Retailers may learn more about their consumers — their behaviors, preferences, and how they interact with the brand – utilizing machine learning and artificial intelligence (ML/AI) both during and after COVID-19. This information may help guarantee that merchants adhere to consumer health and safety procedures throughout their businesses, which is crucial during a pandemic.

Enhance customer retention

Predictive analytics may assist businesses in using customer segmentation to categorize customers based on their interests and preferences once they have targeted their client base at the individual level. Using data analytics solutions, retailers may segment audiences based on demographics, consumer lifestyle, and behavioral aspects. This allows businesses to clearly understand their customer segmentation and how they should advertise items to each category, which is helpful for retailers planning their marketing strategy for a post-COVID retail scenario.

Conclusion

Retailers are faced with a new set of problems post-Covid. The data breaches and the subsequent loss of customer trust have made it difficult for retailers to make decisions in their own best interests.

The data is the most significant factor in decision-making for retailers post-Covid. It not only provides insights into consumer behavior but also helps identify where the company needs to improve as well as what they need to do to stay competitive.

The future of retail lies in cybersecurity and cloud management, which is why it is pertinent for retailers to invest in these areas and leverage the power of data.

Top Cyber Security Trends for 2022

Posted on by cyber-security-blog

Top Cyber Security Trends for 2022

Cyber security is a hot topic in the world today. With the rapid development of technology, cyber security has become more critical, and the cyber Security Market is expected to reach $345.4 billion by 2026. At the same time, it is also one of the most pressing issues of our time. With new technologies and new devices, the stakes are getting higher.

Therefore, cyber security is becoming increasingly important to businesses since a cyber attack can lead to the loss of sensitive data, financial fraud, or disruption of critical systems. On the other hand, social engineering attacks, where psychological manipulation tricks users into making security mistakes or giving away sensitive information, are also on the rise.

However, as we move forward, there will be a shift in how companies are protected against cyber attacks. As artificial intelligence and machine learning tools become more common, companies are able to detect and prevent cyber-attacks with greater ease than they would otherwise be able to.

Here are the top 5 cyber security trends of the year:

  1. Zero Trust Security Models

Using the zero trust model, access to the network is restricted only to those who need it.  Here default access is eliminated, and access is granted to authorized users based on patterns based on identity, time, and device.    Security standards, such as access control procedures and user identity verification, must now be passed to gain access.

  1. Cyber Security as a Service

Cyber Security as a Service (CSaaS) is a new trend in which businesses may outsource their cyber security activities to third-party companies. As businesses move their focus away from traditional IT services and toward cloud-based solutions, the need for managed security services will grow.

This would allow businesses to concentrate on their main business while outsourcing all cybersecurity activities to professionals who can better protect them from cyber threats.

  1. Artificial Intelligence

Artificial intelligence (AI) is being used to detect and prevent threats and detect anomalies and automate responses. The introduction of AI into every market segment has led to extraordinary changes in cybersecurity, due to a combination of AI and machine learning.

In areas such as automated security systems, natural language processing, face detection, and automatic threat detection, artificial intelligence has played a central role. It also opens up new possibilities for predicting threats and vulnerabilities in networks, systems, apps, and other systems, which may help detect the risk and hazards associated in advance.

  1. Cyber Security Training

According to Infosec, 97% of individuals worldwide have no idea how to spot a phishing email. As a result, human error plays a significant role in many data breaches, demonstrating the ineffectiveness of standard digital security awareness programs. Therefore, organizations are making further efforts to bolster their security as cyber-attacks become more active.

Companies are boosting their efforts in training programs to teach staff how to spot phishing emails and other cyber hazards and prevent them. In many companies, policies are being established to govern employees’ handling of sensitive corporate information.

  1. Cybersecurity mesh

The consolidation of security products has led to the integration of security architecture components. However, there is still a need to define uniform security policies, streamline workflows, and exchange data across consolidated solutions.

By implementing a cybersecurity mesh architecture (CSMA), all assets in data centers and the cloud can be protected by a standard, integrated security posture, and structure.

Conclusion

Cyber attacks will become more sophisticated and targeted. There will be more ransomware attacks, data breaches, and malware. Companies will need to invest in cyber security training for their employees and invest in new technologies to protect themselves from cyber threats.