M3- Report on the business risks of insecure
networks and how they can be minimised
Business Risks
Loss of service
Loss of service can usually occur on a network system setup by a business and can become
unavailable for use and cannot provide any kind of service. There are many reason why loss of
service could occur which can be due to a technical fault via hardware such as cables being broken in
a telecommunications business or software fault. However the service can be taken down by
themselves due to intruders on the service or network causing them security problems and them
being vulnerable. For a business that is serving important information for other users to function a
big disruption is not ideal and depending on the network down time it can have a big impact, usually
the longer the down time the more impact it will have on the business and there network. For
example if the Barclay’s Bank servers went down it can impact thousands of customers because
there is not service provided by them and potentially all there information could be lost, this is
problem for financial businesses as they can have the biggest impact like PayPal.
There are many ways a business can reduce the chance of loss of service occurring. The main way
this can be done is by a business backing up there data in a complete different place. This can be
important as all of the details stored in the backup are safe and if anything was lost the backup can
be used to replace the missing data. Every business should do this as they don’t know what might
occur but they should properly check the backups to make sure they were successful and can be
used, normally the updates can be checked by the admin’s.
Increased Costs
Increased costs can occur for many businesses that make sure there data is not properly but there
are also many things that contribute towards increased costs. For example if data is not kept
securely and backed up in case of emergencies, when the data is lost or corrupted due to network
complications the business would need to get all this information again. This can be a problem
especially for businesses that keep customer data as they will need to get all this data from the
customers again which might annoy them. This means employees have to collect data and repair the
problems that are already standard increasing costs, this cost can turn incredibly high for businesses
that have huge amounts of customer data this will shoot the cost up because they have to start from
scratch.
For example if a business such as an Insurance firm which sells insurance policies to customers lost
their data due to bad security and barriers, the business would have to call or get customers to give
this information again. Now customers would lose confidence which will have bad impact on the
business as they would lose profit and costs would keep increasing as there not making the profit
they should.
To minimise increased costs in the concepts I gave, it would be best for the business for backup
there data to secured locations such as the cloud. Even though this would increase costs and is a
hefty investment for the business it is worth it because that information is safe and secure. It can be
restored at any time if any network failure occurs. However these backups should be done regularly
to avoid any gaps in the data because the business never knows when something can go wrong.
networks and how they can be minimised
Business Risks
Loss of service
Loss of service can usually occur on a network system setup by a business and can become
unavailable for use and cannot provide any kind of service. There are many reason why loss of
service could occur which can be due to a technical fault via hardware such as cables being broken in
a telecommunications business or software fault. However the service can be taken down by
themselves due to intruders on the service or network causing them security problems and them
being vulnerable. For a business that is serving important information for other users to function a
big disruption is not ideal and depending on the network down time it can have a big impact, usually
the longer the down time the more impact it will have on the business and there network. For
example if the Barclay’s Bank servers went down it can impact thousands of customers because
there is not service provided by them and potentially all there information could be lost, this is
problem for financial businesses as they can have the biggest impact like PayPal.
There are many ways a business can reduce the chance of loss of service occurring. The main way
this can be done is by a business backing up there data in a complete different place. This can be
important as all of the details stored in the backup are safe and if anything was lost the backup can
be used to replace the missing data. Every business should do this as they don’t know what might
occur but they should properly check the backups to make sure they were successful and can be
used, normally the updates can be checked by the admin’s.
Increased Costs
Increased costs can occur for many businesses that make sure there data is not properly but there
are also many things that contribute towards increased costs. For example if data is not kept
securely and backed up in case of emergencies, when the data is lost or corrupted due to network
complications the business would need to get all this information again. This can be a problem
especially for businesses that keep customer data as they will need to get all this data from the
customers again which might annoy them. This means employees have to collect data and repair the
problems that are already standard increasing costs, this cost can turn incredibly high for businesses
that have huge amounts of customer data this will shoot the cost up because they have to start from
scratch.
For example if a business such as an Insurance firm which sells insurance policies to customers lost
their data due to bad security and barriers, the business would have to call or get customers to give
this information again. Now customers would lose confidence which will have bad impact on the
business as they would lose profit and costs would keep increasing as there not making the profit
they should.
To minimise increased costs in the concepts I gave, it would be best for the business for backup
there data to secured locations such as the cloud. Even though this would increase costs and is a
hefty investment for the business it is worth it because that information is safe and secure. It can be
restored at any time if any network failure occurs. However these backups should be done regularly
to avoid any gaps in the data because the business never knows when something can go wrong.
