Useful Tool with Risks
Big data for small business can be very useful as it helps you develop strategies like customer loyalty programs and outbound marketing initiatives. Data collection and management are critical functions. Yet in some instances it may be cost-prohibitive, especially when your company is running on a tight budget. Though it may seem daunting, your small business can reap the financial rewards of mining big data… as long as you protect your customers sensitive information from identity thieves.
Customer Loyalty Cards
One of the most effective methods for collecting and aggregating big data for small business is through customer loyalty programs. With reward cards or referral programs, you can gather value-added data on the spending habits of your customers. Then, you can make decisions based off of actual consumer behavior versus assumptions, projections or forecasts. However, all of the personally identifiable information associated with big data for small business needs to be protected.
Protecting Big Data for Small Business
For this reason, you need to have the following systems in place:
- internal controls that designate personnel access levels
- document retention policy including appropriate security (e.g., locked file cabinets, encrypted files, passwords)
- all-shred policy when documents have reached their end of life
- review of data breach liability
- management of marketing lists especially for opt-ins and unsubscribes
Secure Document Disposal
Document disposal procedures are an important part of protecting big data for small business. Since small businesses typically have limited resources, it makes sense to outsource data destruction to trained shredding professionals. Companies like Sergeant Shredder has the equipment and skill to get the job done right, quickly and affordably. We take pride in protecting our clients’ paper and digital records by shredding them on site. If you have big shredding project (like year-end file clean up), it makes sense to outsource it rather than take up valuable employee time. Additionally, if you have regular shredding needs, having a secure document bin or consoles right in your office can save you time and limit liability.
How do you protect your big data for your small business? Is shredding part of your data protection routine?