Effective Ways to Prevent Data Breaches

Pranita Sanas | November 26, 2021 | 181 views

Data Breach
Data breach prevention is going to be the need of the hour as cybercrime continues to grow. Cybercrime is a growing threat to businesses of all sizes. Due to this unprecedented time many companies shifted to work-from-home model. Statics show data breaches are on a rise and can have devastating long-term financial set-back or reputational repercussions to your organization.

As a result, businesses must ensure that their data is secure to avoid substantial loss or theft.

As data breaches happens in different ways, there is no such thing as a one-size-fits-all remedy. Security needs a multifaceted approach to be effective.

In this article we’ll find out different ways prevent data breaches.

Impact of a data breach on businesses

A data breach can destroy a business, especially for small and medium-sized businesses (SMB). Data is a valuable asset for any business especially, the data related to customers and payments. Cybercriminals find this data valuable. Lack of planning and security creates vulnerabilities for criminals to exploit.

It is estimated that 60% of small and medium-sized enterprises will close within six months after the attack. Larger businesses or agencies, on the other hand, will survive. Nevertheless, they too will suffer the consequences.

A data breach can impact businesses in the following ways;

Financial

Businesses must compensate for both immediate and hidden fines (fines, public relations, legal fees, and punitive regulatory measures) for a data breach. In addition, business needs to compensate customers, refund any stolen funds, and bear a share value loss. A smart organization will use this opportunity to develop data security and disaster recovery strategies, which entails financial investment.

Fines and fees – The PCI Security Standards Council may impose fines or penalties for a data breach. Both regulatory organisations and card network brands will have different fines.

Forensic investigations – Major consequences of a data breach include, the business that was attacked will be accountable to perform a forensic investigation to determine the causes of the data breach. These investigations are costly and often yield valuable evidence and insights to prevent future data breaches.

Future security costs – Victims of a data breach may have to bear costs of credit monitoring for customers whose data was compromised. This may also include the costs of identity theft repair, card replacement, and additional compliance requirements from the PCI.

Reputation

Having a good reputation is the most prized asset for any organization. As a business, one must constantly put effort into building and maintaining brand integrity. A single compromising episode like a data breach can trash the best of reputations. According to a PwC report, 85% of customers won't shop at a business if they have concerns about their security policies.

Customers value their privacy, and a data breach will be perceived as a lack of regard for their data and privacy. Furthermore, 46% of businesses reported that security breaches harmed their reputation and brand value.

Intellectual Property

The product blueprints, business strategies, and engineered solutions are some of your most valuable assets for any organization. Your trade secret gives you an added advantage over your competitors. Hence it needs to be protected as some may not hesitate to use breached intellectual property.

Other significant consequences of a data breach include;

  • A data breach can pit the CEO against the CISO
  • Poisoned search results on your corporate brand
  • Loss of sales after a data breach
  • Unexpected expenses
  • Less attractive to new employees, especially in tech positions
  • Legal penalties after a data breach

Understanding the aftermath of a data breach is an important step to safeguarding your business. The next step is to create an action plan is to protect what you've worked so hard on.

How does a Data breach happen?

Data breaches sometimes can be traced back to planned attacks. But, on the other hand, it can result from a simple oversight by individuals or flaws in the infrastructure.

Accidental Insider

For instance, an employee uses a co-worker's computer and reads files without proper approval or permission. However, the access is unintentional/accidental, and no personal information is revealed. The data was breached, however, because it was read by an unauthorised person.

Malicious Insider

This person deliberately accesses/shares data with the intent of causing harm to an individual or company. The malicious insider may have genuine authorization to use the data, but the intent is to use the info in nefarious ways.

Lost or Stolen Devices

Any laptop or external hard drive with important information on it that is not encrypted or unlocked goes missing.

Malicious Outside Criminals

These are hackers who attack several vectors to collect information from a network or an individual.

Global cost of data breach

According to the Ponemon Institute's Cost of a Data Breach Report, global data breaches cost $3.86 million on average in 2020. The amount in 2020 was somewhat lesser compared to 2019 when it hit $3.92M. The same report found that the average cost of a data breach in 2020 totaled $8.64M.

Ways to prevent a data breach

  • Conduct employee security awareness training
  • Control access to data sensibly
  • Update software regularly.
  • Require secure passwords and authentication
  • Simulate phishing attacks
  • Evaluate accounts
  • Limit access to your most valuable data.
  • Review your user account lifecycle processes
  • Insist on complex and unique passwords
  • Protect against authentication bypass
  • Store sensitive personal information securely and protect it during transmission
  • Consider implementing a secure SSO solution
  • Secure all endpoints
  • Segment your network and monitor who's trying to get in and out
  • Manage Vendors - Third-party vendors must comply.

Conclusion

Protecting against data breaches may appear to be a time-consuming procedure. You will be in a better position if you take an encrusted step to secure your data using various methods, policies, and procedures to ease security threats.

FAQ’s


How does a data breach impact an organization?

Depending upon the company and data type, the consequences may include destruction or corruption of databases, leaking of confidential information, the theft of intellectual property, and regulatory requirements to inform and possibly compensate those affected.

What is the most common data breach?

Hacking attacks are the most common cause of a data breach. However, it is often a weak or lost password that is the vulnerability that the opportunist hacker is exploiting.

Spotlight

Globant

We are a digitally native company where innovation, design and engineering meet scale. We use the latest technologies in the digital and cognitive field to empower organizations in every aspect. - Globant has more than 8,300 professionals and we are present in 14 countries working for companies like Google, Linkedin, BBVA, EA and Coca Cola among others. - We were named a Worldwide Leader of Digital Strategy Consulting Services by IDC MarketScape report (2016 and 2017)

OTHER ARTICLES
BIG DATA MANAGEMENT

How is Data Virtualization Shifting the Tailwind in Data Management?

Article | July 6, 2022

Over the past couple of years, a significant rise in the trend of digitalization has been witnessed across almost all industries, resulting in the creation of large volumes of data. In addition, an unprecedented proliferation of applications and the rise in the use of social media, cloud and mobile computing, the Internet of Things, and others have created the need for collecting, combining, and curating massive amounts of data. As the importance of data continues to grow across businesses, companies aim to collect data from the web, social media, AI-powered devices, and other sources in different formats, making it trickier for them to manage this unstructured data. Hence, smarter companies are investing in innovative solutions, such as data virtualization, to access and modify data stored across siloed, disparate systems through a unified view. This helps them bridge critical decision-making data together, fuel analytics, and make strategic and well-informed decisions. Why is Data Virtualization Emerging as A New Frontier in Data Management? In the current competitive corporate world, where data needs are increasing at the same rate as the volume of data companies hold, it is becoming essential to manage and harness data effectively. As enterprises focus on accumulating multiple types of data, the effort of managing it has outgrown the capacity of traditional data integration tools, such as data warehouse software and Extract Transform Load (ETL) systems. With the growing need for more effective data integration solutions, high-speed information sharing, and non-stop data transmission, advanced tools such as data virtualization are gaining massive popularity among corporate firms and other IT infrastructures. Data virtualization empowers organizations to accumulate and integrate data from multiple channels, locations, sources, and formats to create a unified stream of data without any redundancy or overlap, resulting in faster integration speeds and enhanced decision-making. What are the key features that make data virtualization a new frontier in data management? Let's see: Modernize Information Infrastructure With the ability to hide the underlying systems, data virtualization allows companies to replace their old infrastructure with cutting-edge cloud applications without affecting day-to-day business operations. Enhance Data Protection Data virtualization enables CxOs to identify and isolate vital source systems from users and applications, which assists organizations in preventing the latter from making unintended changes to the data, as well as allowing them to enforce data governance and security. Deliver Information Faster and Cheaper Data replication takes time and costs money; the "zero replication" method used by data virtualization allows businesses to obtain up-to-the-minute information without having to invest in additional storage space, thereby saving on the operation cost. Increase Business Productivity By delivering data in real time, the integration of data virtualization empowers businesses to access the most recent data during regular business operations. In addition, it enhances the utilization of servers and storage resources and allows data engineering teams to do more in less time, thereby increasing productivity. Use Fewer Development Resources Data virtualization lowers the need for human coding, allowing developers to focus on the faster delivery of information at scale. With its simplified view-based methodology, data virtualization also enables CxOs to reduce development resources by around one-fourth. Data Virtualization: The Future Ahead With the growing significance of data across enterprises and increasing data volume, variety, complexity, compliance requirements, and others, every organization is looking for well-governed, consistent, and secure data that is easy to access and use. As data virtualization unifies and integrates the data from different systems, providing new ways to access, manage, and deliver data without replicating it, more and more organizations are investing in data virtualization software and solutions and driving greater business value from their data.

Read More
BIG DATA MANAGEMENT, DATA VISUALIZATION, DATA ARCHITECTURE

How Artificial Intelligence Is Transforming Businesses

Article | August 18, 2022

Whilst there are many people that associate AI with sci-fi novels and films, its reputation as an antagonist to fictional dystopic worlds is now becoming a thing of the past, as the technology becomes more and more integrated into our everyday lives.AI technologies have become increasingly more present in our daily lives, not just with Alexa’s in the home, but also throughout businesses everywhere, disrupting a variety of different industries with often tremendous results. The technology has helped to streamline even the most mundane of tasks whilst having a breath-taking impact on a company’s efficiency and productivity.However, AI has not only transformed administrative processes and freed up more time for companies, it has also contributed to some ground-breaking moments in business, being a must-have for many in order to keep up with the competition.

Read More
BIG DATA MANAGEMENT

DRIVING DIGITAL TRANSFORMATION WITH RPA, ML AND WORKFLOW AUTOMATION

Article | July 5, 2022

The latest pace of advancements in technology paves way for businesses to pay attention to digital strategy in order to drive effective digital transformation. Digital strategy focuses on leveraging technology to enhance business performance, specifying the direction where organizations can create new competitive advantages with it. Despite a lot of buzz around its advancement, digital transformation initiatives in most businesses are still in its infancy.Organizations that have successfully implemented and are effectively navigating their way towards digital transformation have seen that deploying a low-code workflow automation platform makes them more efficient.

Read More

AI and Predictive Analytics: Myth, Math, or Magic

Article | February 10, 2020

We are a species invested in predicting the future as if our lives depended on it. Indeed, good predictions of where wolves might lurk were once a matter of survival. Even as civilization made us physically safer, prediction has remained a mainstay of culture, from the haruspices of ancient Rome inspecting animal entrails to business analysts dissecting a wealth of transactions to foretell future sales. With these caveats in mind, I predict that in 2020 (and the decade ahead) we will struggle if we unquestioningly adopt artificial intelligence (AI) in predictive analytics, founded on an unjustified overconfidence in the almost mythical power of AI's mathematical foundations. This is another form of the disease of technochauvinism I discussed in a previous article.

Read More

Spotlight

Globant

We are a digitally native company where innovation, design and engineering meet scale. We use the latest technologies in the digital and cognitive field to empower organizations in every aspect. - Globant has more than 8,300 professionals and we are present in 14 countries working for companies like Google, Linkedin, BBVA, EA and Coca Cola among others. - We were named a Worldwide Leader of Digital Strategy Consulting Services by IDC MarketScape report (2016 and 2017)

Related News

DATA VISUALIZATION, DATA ARCHITECTURE

Alteryx Ventures Announces Strategic Investment in MANTA

Alteryx | December 08, 2022

Alteryx, Inc., the Analytics Automation company, has announced a strategic investment in MANTA, the data lineage company. MANTA enables enterprises to achieve full visibility into the most complex data environments. With this investment from Alteryx Ventures, MANTA will be able to bolster product innovation, expand its partner ecosystem, and grow in key markets. Alteryx's investment in MANTA furthers the company's commitment to enterprise governance, risk, and compliance and accelerates joint product integration. MANTA empowers data professionals and IT departments to ensure data pipeline health across the enterprise. Alteryx's deep roots in enabling analytics democratization within many of the largest and most complex global enterprises makes it an ideal partner in establishing strong governance practices. Combined, the two companies create an end-to-end solution that enables organizations to deeply understand data lineage, including how data moves through a company, where it originated, how it is transformed and analyzed, and ultimately where it's used. This creates a meaningful audit trail for compliance. "We are excited to work with MANTA to help companies gain visibility into their data environments. Both companies share a common mission to enable analytics adoption at scale, The MANTA Data Lineage Platform will be a strong partner to our customers looking to efficiently grow their analytics footprint within their teams." Jay Henderson, SVP of Product Management, Alteryx Commenting on this partnership, Tomas Kratky, MANTA CEO and Founder, said, Data Lineage is becoming the cornerstone of a modern data management strategy and is at the core of advanced concepts like data fabric, enabling businesses to fully operationalize data and boost internal productivity. We are proud to partner with Alteryx to advance our innovation even further and support our growing customer base on their data journey. Alteryx Ventures invests in companies with innovative technology and services that complement Alteryx's analytics and data science products and encourage innovation within the analytics ecosystem. Alteryx's vision centers on enabling every person to achieve breakthrough outcomes from data through analytics automation, data science, and unprecedented ease of use. About MANTA MANTA is a world-class data lineage platform that helps fix your blind spots and offers a line of sight into your data environment. By automatically scanning your data environment, MANTA builds a powerful map of all data flows and delivers it through a native UI and other channels to both technical and non-technical users. With MANTA, everyone gets full visibility and control of their data pipeline. Visit getmanta.com to learn how MANTA can help your company leverage data as a true corporate asset. About Alteryx Alteryx powers analytics for all by providing our leading Analytics Automation Platform. Alteryx delivers easy end-to-end automation of data engineering, analytics, reporting, machine learning, and data science processes, enabling enterprises everywhere to democratize data analytics across their organizations for a broad range of use cases. More than 8,000 customers globally rely on Alteryx to deliver high-impact business outcomes.

Read More

DATA VISUALIZATION

Opaque Systems, Pioneer in Confidential Computing, Unveils the First Multi-Party Confidential AI and Analytics Platform

Opaque Systems | December 08, 2022

Opaque Systems, the pioneers of secure multi-party analytics and AI for Confidential Computing, today announced the latest advancements in Confidential AI and Analytics with the unveiling of its platform. The Opaque platform, built to unlock use cases in Confidential Computing, is created by the inventors of the popular MC2 open source project which was conceived in the RISELab at UC Berkeley. The Opaque Platform uniquely enables data scientists within and across organizations to securely share data and perform collaborative analytics directly on encrypted data protected by Trusted Execution Environments (TEEs). The platform further accelerates Confidential Computing use cases by enabling data scientists to leverage their existing SQL and Python skills to run analytics and machine learning while working with confidential data, overcoming the data analytics challenges inherent in TEEs due to their strict protection of how data is accessed and used. The Opaque platform advancements come on the heels of Opaque announcing its $22M Series A funding, Confidential Computing – projected to be a $54B market by 2026 by the Everest Group – provides a solution using TEEs or 'enclaves' that encrypt data during computation, isolating it from access, exposure and threats. However, TEEs have historically been challenging for data scientists due to the restricted access to data, lack of tools that enable data sharing and collaborative analytics, and the highly specialized skills needed to work with data encrypted in TEEs. The Opaque Platform overcomes these challenges by providing the first multi-party confidential analytics and AI solution that makes it possible to run frictionless analytics on encrypted data within TEEs, enable secure data sharing, and for the first time, enable multiple parties to perform collaborative analytics while ensuring each party only has access to the data they own. "Traditional approaches for protecting data and managing data privacy leave data exposed and at risk when being processed by applications, analytics, and machine learning (ML) models, The Opaque Confidential AI and Analytics Platform solves this challenge by enabling data scientists and analysts to perform scalable, secure analytics and machine learning directly on encrypted data within enclaves to unlock Confidential Computing use cases." -Rishabh Poddar, Co-founder & CEO, Opaque Systems. Strict privacy regulations result in sensitive data being difficult to access and analyze, said a Data Science Leader at a top US bank. New multi-party secure analytics and computational capabilities and Privacy Enhancing Technology from Opaque Systems will significantly improve the accuracy of AI/ML/NLP models and speed insights. The Opaque Confidential AI and Analytics Platform is designed to specifically ensure that both code and data within enclaves are inaccessible to other users or processes that are collocated on the system. Organizations can encrypt their confidential data on-premises, accelerate the transition of sensitive workloads to enclaves in Confidential Computing Clouds, and analyze encrypted data while ensuring it is never unencrypted during the lifecycle of the computation. Key capabilities and advancements include: Secure, Multi-Party Collaborative Analytics – Multiple data owners can pool their encrypted data together in the cloud, and jointly analyze the collective data without compromising confidentiality. Policy enforcement capabilities ensure the data owned by each party is never exposed to other data owners. Secure Data Sharing and Data Privacy – Teams across departments and across organizations can securely share data protected in TEEs while adhering to regulatory and compliance policies. Use cases requiring confidential data sharing include financial crime, drug research, ad targeting monetization and more. Data Protection Throughout the Lifecycle – Protects all sensitive data, including PII and SHI data, using advanced encryption and secure hardware enclave technology, throughout the lifecycle of computation—from data upload, to analytics and insights. Multi-tiered Security, Policy Enforcement, and Governance – Leverages multiple layers of security, including Intel® Software Guard Extensions, secure enclaves, advanced cryptography and policy enforcement to provide defense in depth, ensuring code integrity, data, and side-channel attack protection. Scalability and Orchestration of Enclave Clusters – Provides distributed confidential data processing across managed TEE clusters and automates orchestration of clusters overcoming performance and scaling challenges and supports secure inter-enclave communication. Confidential Computing is supported by all major cloud vendors including Microsoft Azure, Google Cloud and Amazon Web Services and major chip manufacturers including Intel and AMD. About Opaque Systems: Commercializing the open source MC2 technology invented at UC Berkeley by its founders, Opaque System provides the first collaborative analytics and AI platform for Confidential Computing. Opaque uniquely enables data to be securely shared and analyzed by multiple parties while maintaining complete confidentiality and protecting data end-to-end. The Opaque Platform leverages a novel combination of two key technologies layered on top of state-of-the-art cloud security—secure hardware enclaves and cryptographic fortification. This combination ensures that the overall computation is secure, fast, and scalable. The MC2 technology and Opaque innovation has already been adopted by several organizations, such as Ant Group, IBM, Scotiabank, and Ericsson.

Read More

BIG DATA MANAGEMENT

ClickHouse Launches Cloud Offering For World’s Fastest OLAP Database Management System

ClickHouse | December 07, 2022

Today, ClickHouse, Inc, creators of the online analytical processing (OLAP) database management system, announced the general availability of their newest offering, ClickHouse Cloud, a lightning-fast cloud-based database that simplifies and accelerates insights and analytics for modern digital enterprises. With no infrastructure to manage, ClickHouse Cloud architecture decouples storage and compute and scales automatically to accommodate modern workloads, so users do not have to size and tune their clusters to achieve blazing-fast query speeds. This launch includes a host of new product features, enhancing the security, reliability and usability of ClickHouse Cloud. ClickHouse technology allows a company to turn their data into insights and innovation in near real-time, whether it's a bank trying to detect fraud or a streaming service tracking the next blockbuster. With every modern business relying on massive volumes of data, the ability to derive insights in milliseconds from petabytes of data becomes critically important. The launch of ClickHouse Cloud, available at both www.clickhouse.com and through the AWS Marketplace, allows any company to access this technology on demand for the first time. ClickHouse Cloud is production-ready with a host of new features, including SOC 2 Type II compliance and uptime SLAs for production workloads, with a public trust center and status page that provide reassurance to customers building mission-critical data-based apps on the service. Following the successful acquisition of database client Arctype, users will benefit from a new SQL console that will enable them to connect, explore, and query their databases easily. “The advantage of ClickHouse is speed and simplicity, and ClickHouse Cloud takes that to a new level, enabling businesses to start a service and analyze data a fraction of the cost of other solutions on the market, In just a few months, the ClickHouse Cloud beta has gained over 100 customers and thousands of new users spanning across developers, data analysts, marketing and other critical areas of business where data is analyzed and stored.” -Aaron Katz, CEO of ClickHouse. ClickHouse Cloud aligns with our desire to empower our developers to go from concept to delivery on real-time analytics use cases in days, speeding up the product innovation cycle drastically. We are thrilled to collaborate with ClickHouse Cloud when it comes to performance, scalability, and security, says Eyal Manor, Chief Product Officer of Twilio. Over 100 paying customers have already adopted ClickHouse Cloud during the two-month beta phase, and are experiencing the ability to focus on developing business-critical data applications without the burden of operations resources. In addition, the serverless, production-ready ClickHouse Cloud offering adds a tier optimized for development use cases. This is tuned for smaller workloads and recognizes the importance of lower-cost services enabling rapid prototyping of new features and data products. A user can now architect, model, and experiment with ClickHouse Cloud in preparation for a full production deployment. Alongside these fundamental product announcements, ClickHouse is delighted to further validate its market opportunity, team, and business model following fresh investment from leading technology investor Thrive Capital, as an extension to its Series B. This funding will support further investment in technology and allow ClickHouse to continue building its world-leading team of software engineers. “ClickHouse offers the most efficient database for fast and large-scale analytics, We have long admired this team and are excited to partner with them as they launch ClickHouse Cloud to an even wider audience.” -Avery KIemmer, an investor at Thrive Capital. About ClickHouse: ClickHouse is ​the world's fastest and most resource-efficient online analytical ​column-oriented database management system​. Now offered as a secure and scalable serverless offering in the cloud, ClickHouse Cloud allows anyone to effortlessly take advantage of efficient real-time analytical processing​.

Read More

DATA VISUALIZATION, DATA ARCHITECTURE

Alteryx Ventures Announces Strategic Investment in MANTA

Alteryx | December 08, 2022

Alteryx, Inc., the Analytics Automation company, has announced a strategic investment in MANTA, the data lineage company. MANTA enables enterprises to achieve full visibility into the most complex data environments. With this investment from Alteryx Ventures, MANTA will be able to bolster product innovation, expand its partner ecosystem, and grow in key markets. Alteryx's investment in MANTA furthers the company's commitment to enterprise governance, risk, and compliance and accelerates joint product integration. MANTA empowers data professionals and IT departments to ensure data pipeline health across the enterprise. Alteryx's deep roots in enabling analytics democratization within many of the largest and most complex global enterprises makes it an ideal partner in establishing strong governance practices. Combined, the two companies create an end-to-end solution that enables organizations to deeply understand data lineage, including how data moves through a company, where it originated, how it is transformed and analyzed, and ultimately where it's used. This creates a meaningful audit trail for compliance. "We are excited to work with MANTA to help companies gain visibility into their data environments. Both companies share a common mission to enable analytics adoption at scale, The MANTA Data Lineage Platform will be a strong partner to our customers looking to efficiently grow their analytics footprint within their teams." Jay Henderson, SVP of Product Management, Alteryx Commenting on this partnership, Tomas Kratky, MANTA CEO and Founder, said, Data Lineage is becoming the cornerstone of a modern data management strategy and is at the core of advanced concepts like data fabric, enabling businesses to fully operationalize data and boost internal productivity. We are proud to partner with Alteryx to advance our innovation even further and support our growing customer base on their data journey. Alteryx Ventures invests in companies with innovative technology and services that complement Alteryx's analytics and data science products and encourage innovation within the analytics ecosystem. Alteryx's vision centers on enabling every person to achieve breakthrough outcomes from data through analytics automation, data science, and unprecedented ease of use. About MANTA MANTA is a world-class data lineage platform that helps fix your blind spots and offers a line of sight into your data environment. By automatically scanning your data environment, MANTA builds a powerful map of all data flows and delivers it through a native UI and other channels to both technical and non-technical users. With MANTA, everyone gets full visibility and control of their data pipeline. Visit getmanta.com to learn how MANTA can help your company leverage data as a true corporate asset. About Alteryx Alteryx powers analytics for all by providing our leading Analytics Automation Platform. Alteryx delivers easy end-to-end automation of data engineering, analytics, reporting, machine learning, and data science processes, enabling enterprises everywhere to democratize data analytics across their organizations for a broad range of use cases. More than 8,000 customers globally rely on Alteryx to deliver high-impact business outcomes.

Read More

DATA VISUALIZATION

Opaque Systems, Pioneer in Confidential Computing, Unveils the First Multi-Party Confidential AI and Analytics Platform

Opaque Systems | December 08, 2022

Opaque Systems, the pioneers of secure multi-party analytics and AI for Confidential Computing, today announced the latest advancements in Confidential AI and Analytics with the unveiling of its platform. The Opaque platform, built to unlock use cases in Confidential Computing, is created by the inventors of the popular MC2 open source project which was conceived in the RISELab at UC Berkeley. The Opaque Platform uniquely enables data scientists within and across organizations to securely share data and perform collaborative analytics directly on encrypted data protected by Trusted Execution Environments (TEEs). The platform further accelerates Confidential Computing use cases by enabling data scientists to leverage their existing SQL and Python skills to run analytics and machine learning while working with confidential data, overcoming the data analytics challenges inherent in TEEs due to their strict protection of how data is accessed and used. The Opaque platform advancements come on the heels of Opaque announcing its $22M Series A funding, Confidential Computing – projected to be a $54B market by 2026 by the Everest Group – provides a solution using TEEs or 'enclaves' that encrypt data during computation, isolating it from access, exposure and threats. However, TEEs have historically been challenging for data scientists due to the restricted access to data, lack of tools that enable data sharing and collaborative analytics, and the highly specialized skills needed to work with data encrypted in TEEs. The Opaque Platform overcomes these challenges by providing the first multi-party confidential analytics and AI solution that makes it possible to run frictionless analytics on encrypted data within TEEs, enable secure data sharing, and for the first time, enable multiple parties to perform collaborative analytics while ensuring each party only has access to the data they own. "Traditional approaches for protecting data and managing data privacy leave data exposed and at risk when being processed by applications, analytics, and machine learning (ML) models, The Opaque Confidential AI and Analytics Platform solves this challenge by enabling data scientists and analysts to perform scalable, secure analytics and machine learning directly on encrypted data within enclaves to unlock Confidential Computing use cases." -Rishabh Poddar, Co-founder & CEO, Opaque Systems. Strict privacy regulations result in sensitive data being difficult to access and analyze, said a Data Science Leader at a top US bank. New multi-party secure analytics and computational capabilities and Privacy Enhancing Technology from Opaque Systems will significantly improve the accuracy of AI/ML/NLP models and speed insights. The Opaque Confidential AI and Analytics Platform is designed to specifically ensure that both code and data within enclaves are inaccessible to other users or processes that are collocated on the system. Organizations can encrypt their confidential data on-premises, accelerate the transition of sensitive workloads to enclaves in Confidential Computing Clouds, and analyze encrypted data while ensuring it is never unencrypted during the lifecycle of the computation. Key capabilities and advancements include: Secure, Multi-Party Collaborative Analytics – Multiple data owners can pool their encrypted data together in the cloud, and jointly analyze the collective data without compromising confidentiality. Policy enforcement capabilities ensure the data owned by each party is never exposed to other data owners. Secure Data Sharing and Data Privacy – Teams across departments and across organizations can securely share data protected in TEEs while adhering to regulatory and compliance policies. Use cases requiring confidential data sharing include financial crime, drug research, ad targeting monetization and more. Data Protection Throughout the Lifecycle – Protects all sensitive data, including PII and SHI data, using advanced encryption and secure hardware enclave technology, throughout the lifecycle of computation—from data upload, to analytics and insights. Multi-tiered Security, Policy Enforcement, and Governance – Leverages multiple layers of security, including Intel® Software Guard Extensions, secure enclaves, advanced cryptography and policy enforcement to provide defense in depth, ensuring code integrity, data, and side-channel attack protection. Scalability and Orchestration of Enclave Clusters – Provides distributed confidential data processing across managed TEE clusters and automates orchestration of clusters overcoming performance and scaling challenges and supports secure inter-enclave communication. Confidential Computing is supported by all major cloud vendors including Microsoft Azure, Google Cloud and Amazon Web Services and major chip manufacturers including Intel and AMD. About Opaque Systems: Commercializing the open source MC2 technology invented at UC Berkeley by its founders, Opaque System provides the first collaborative analytics and AI platform for Confidential Computing. Opaque uniquely enables data to be securely shared and analyzed by multiple parties while maintaining complete confidentiality and protecting data end-to-end. The Opaque Platform leverages a novel combination of two key technologies layered on top of state-of-the-art cloud security—secure hardware enclaves and cryptographic fortification. This combination ensures that the overall computation is secure, fast, and scalable. The MC2 technology and Opaque innovation has already been adopted by several organizations, such as Ant Group, IBM, Scotiabank, and Ericsson.

Read More

BIG DATA MANAGEMENT

ClickHouse Launches Cloud Offering For World’s Fastest OLAP Database Management System

ClickHouse | December 07, 2022

Today, ClickHouse, Inc, creators of the online analytical processing (OLAP) database management system, announced the general availability of their newest offering, ClickHouse Cloud, a lightning-fast cloud-based database that simplifies and accelerates insights and analytics for modern digital enterprises. With no infrastructure to manage, ClickHouse Cloud architecture decouples storage and compute and scales automatically to accommodate modern workloads, so users do not have to size and tune their clusters to achieve blazing-fast query speeds. This launch includes a host of new product features, enhancing the security, reliability and usability of ClickHouse Cloud. ClickHouse technology allows a company to turn their data into insights and innovation in near real-time, whether it's a bank trying to detect fraud or a streaming service tracking the next blockbuster. With every modern business relying on massive volumes of data, the ability to derive insights in milliseconds from petabytes of data becomes critically important. The launch of ClickHouse Cloud, available at both www.clickhouse.com and through the AWS Marketplace, allows any company to access this technology on demand for the first time. ClickHouse Cloud is production-ready with a host of new features, including SOC 2 Type II compliance and uptime SLAs for production workloads, with a public trust center and status page that provide reassurance to customers building mission-critical data-based apps on the service. Following the successful acquisition of database client Arctype, users will benefit from a new SQL console that will enable them to connect, explore, and query their databases easily. “The advantage of ClickHouse is speed and simplicity, and ClickHouse Cloud takes that to a new level, enabling businesses to start a service and analyze data a fraction of the cost of other solutions on the market, In just a few months, the ClickHouse Cloud beta has gained over 100 customers and thousands of new users spanning across developers, data analysts, marketing and other critical areas of business where data is analyzed and stored.” -Aaron Katz, CEO of ClickHouse. ClickHouse Cloud aligns with our desire to empower our developers to go from concept to delivery on real-time analytics use cases in days, speeding up the product innovation cycle drastically. We are thrilled to collaborate with ClickHouse Cloud when it comes to performance, scalability, and security, says Eyal Manor, Chief Product Officer of Twilio. Over 100 paying customers have already adopted ClickHouse Cloud during the two-month beta phase, and are experiencing the ability to focus on developing business-critical data applications without the burden of operations resources. In addition, the serverless, production-ready ClickHouse Cloud offering adds a tier optimized for development use cases. This is tuned for smaller workloads and recognizes the importance of lower-cost services enabling rapid prototyping of new features and data products. A user can now architect, model, and experiment with ClickHouse Cloud in preparation for a full production deployment. Alongside these fundamental product announcements, ClickHouse is delighted to further validate its market opportunity, team, and business model following fresh investment from leading technology investor Thrive Capital, as an extension to its Series B. This funding will support further investment in technology and allow ClickHouse to continue building its world-leading team of software engineers. “ClickHouse offers the most efficient database for fast and large-scale analytics, We have long admired this team and are excited to partner with them as they launch ClickHouse Cloud to an even wider audience.” -Avery KIemmer, an investor at Thrive Capital. About ClickHouse: ClickHouse is ​the world's fastest and most resource-efficient online analytical ​column-oriented database management system​. Now offered as a secure and scalable serverless offering in the cloud, ClickHouse Cloud allows anyone to effortlessly take advantage of efficient real-time analytical processing​.

Read More

Events