You are constantly collecting, processing, and using countless data sets as a business. Because of the tremendous volume and sensitivity of the data, many countries have laws ensuring that businesses take the appropriate measures to keep their data private and safe.

With data analytics and business intelligence becoming more critical than before to businesses today, all businesses need to make strategic and mindful decisions regarding the storage of their crucial business data.

A loss in business data could damage the business and cause the business to lose the trust of its customers.

When customers submit their credit card details on an online shopping platform or upload – they do it instinctively, which is based on a trust relationship that businesses have cultivated themselves and their customers.

Maintaining that trust all comes down to taking the appropriate data security measures. Apart from sensitive information, your business’s logo, invoice sheets, and other files are all digital assets that need to be kept safe.

Here are some of the most effective types of data storage:

VDR – Virtual Data Room

VDR refers to secure online storage for the storing and viewing of essential business documents. A VDR is typically used for viewing, sharing, and disclosing crucial business documentation, which occurs in a controlled environment.

Usually, businesses use a virtual data room when they are collaborating with other stakeholders on a project or any other joint business venture that requires shared access to the data. A virtual data room is more secure than sharing physical documents as there is a minimum to no risk of data loss or damage.

Since the environment of a VDR is controlled, the typical actions of forwarding, copying, and printing are disabled. Learn more at Firmex about the benefits of using VDRs for the storing and sharing of business data.

Cloud Storage

We all are familiar with cloud storage, such as Google Drive or Dropbox. Most businesses opt for cloud storage due to its flexibility and easy accessibility. Essentially, the cloud is just another computer located in a different place you use to share and save your files.

Usually, a username and password are required to get access. The primary reason that cloud storage appeals to many businesses is that it allows people to access data from anywhere in the world. Cloud has made it so much easier for businesses to work with remote teams.

However, for sensitive business information, you will want to opt for some other secure option than cloud storage.

Hyper-Convergence Storage

This data storage type allows businesses to keep digital files and information at an on-site data center which is typically located where the headquarters or main offices are. The primary benefit of hyper-convergence storage is all about full-fledged security.

It is easy to manage and protects a business from all types of malicious activity. The potential downside could be the high costs, which might make it difficult for small businesses to have this data storage setup.

In hyper-convergence storage, files are stored in multiple places to ensure safety and accuracy.