Organizations may have often come across instances where a bid has been lost by a narrow margin, a competitor has released a similar-looking product, or a trade secret has been patented by the competition. These incidents are neither isolated, nor as coincidental as they may appear. Lack of reporting, hush-ups, or failure to detect the real causes, are some of the reasons why such incidents are not in the limelight. But these incidents result in a loss of business plans, product designs, commercial information and even the customer’s private information like credit card data. Besides the financial loss, stolen information is often used for blackmail or to damage the reputation of the corporate.
The problem arises because it is difficult to secure unstructured data (proposals, business plans, etc) as opposed to securing structured data (databases). Unstructured data is normally unique, created by individual employees, and its use is determined by the employees rather than a business process or application. For example, in most companies, the employee who creates a business plan decides who to share it with, where to store it, and so forth.
The journey to secure unstructured data is not easy to implement due to various factors. However, the problem needs to be fixed.