Big Data Strategies For Large Corporations

Walmart, China National Petroleum, Amazon, Apple, UnitedHealth Group, Exxon Mobil, and Google constantly juggle big data. As some of the largest corporations in the world, these companies have thousands or millions of customers. These companies provide businesses and consumers with essential products, such as oil, private and public healthcare insurance, food, a diverse Internet search engine, and electronics.

Big Corporation And Big Data

Considering, the large number of employees and customers each of the above companies has, big data becomes more apparent. The UnitedHealth Group, alone, has around 49.5 million customers. Amazon, on the other hand, has about 2 million Prime subscribers. Speaking of employees, Walmart has about 2.2 million full- and part-time workers.

How do large corporations juggle their big data? Find the answer and much more in the content provided below.

Data Breach Statistics

A data breach is when a hacker or another culprit illegally obtains files from a private computer system. According to an Identity Theft Resource Center study, there were 1,291 data breaches reported in 2021. This number is up by 183 from 2020 when 1,108 data breaches were reported. Experts believe data breaches are becoming commonplace in the online world. To stop this from happening, large corporations are taking matters into their own hands.

California Consumer Privacy Act ‘CCPA’

Small businesses, large corporations, and LLCs are required by law to handle their consumer data in the utmost secure manner. The California Consumer Privacy Act “CCPA” was enacted in 2018, later amended in 2018, to regulate how American businesses handle consumer information.

Consumer information includes addresses, phone numbers, social security numbers, driver’s license numbers, professional licensures, and names.

According to an IBM report, “Cost of a Data Breach Report”, the international average cost of a data breach scaled to $4.24 million. The average cost had increased by 10 percent from 2020 due to higher regulatory fines.

Cybersecurity Concerns

The Internet has been a wonderment for large corporations. It opened more sales opportunities throughout the world. In the past, companies could never imagine what their sales would look like with access to international consumers. With the ability to reach global markets, some companies have been saved from bankruptcy while others doubled and tripled their annual revenue.

Like any major improvement in the business world, the Internet also had downsides. It did not take long for modern companies to learn what the term, data breach meant. Within the first year, hackers were forming new strategies that targeted big data.

Experts knew the evolution of the Internet would change how brick-and-mortar businesses operated. They also knew tackling cybersecurity would not be easy. In the meantime, hackers continued to work their fingers to the bone to develop deception practices to breach websites.

Cloud Storage

Big data requires extensive storage. It is the hacker’s dream to crack a storage medium. Thanks to the latest technology, large corporations can rest assured their client data is protected. Cloud is the revolutionary storage for digital data.

Cloud services store big data in undisclosed locations protected by an extensive security network. Learn more about the latest data storage by clicking over here.

Two-Factor Authentication

Thanks to extensive research, large corporations can now fight back against even the most dedicated hackers. One particular strategy that would prove valuable for companies is two-factor authentication. It is rare to find a company that does not require its clients to validate their identity.

To minimize the risk of personal identifiers getting into the wrong hands during data-sharing, two-way authentication utilizes email or text codes and passwords.

Summary

Employees of large corporations are required to partake in cybersecurity training. Employees are a must for large corporations. They are also a cybersecurity threat when they are misinformed.