5 Reasons Why Your Business Needs asymmetric filter？

When I refer to "The Kardashians ", most of you will have an idea who and what I am talking about. Some of you will be more aware of the exploits of this family than others, but if you would have the opportunity to pick one of your friends and talk to them, and you picked the right friend, you would be up to date in no time. Based on the knowledge you already have and the information shared by your friend, you would add to your knowledge which, combined with all the filters you have been developing and collecting your whole life, would allow you to form an opinion quite quickly. The reason is simple. There is little to no information asymmetry about the Kardashians. Everything is known. All the relevant information is out there, accessible via the internet.

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Five factors leading to information asymmetry

The question then becomes, if something as basic yet as convoluted as a reality-TV show can be « known » to pretty much everyone, why is it so difficult to create the same level of understanding within an organisation? Your team members, each at their level, need to be as informed about both your business and your business environment as they are about the Kardashians. Yet information asymmetry continues to exist in most businesses. I believe there are five factors to blame. I’ll list them and we’ll explore them further.

The five factors are:

1. Lack of information existence
2. Lack of information treatment
3. Lack of information availability
4. Lack of information timeliness
5. Lack of time to work the information into knowledge

Let’s dive into these factors:

Information existence

As much as we would like to believe we live in the age of data, any type of stuff out there, relevant or not, will remain stuff (unqualified potential information) and will have no added value unless someone picks it up and identifies it as useful information. I’ve mentioned this before: we discard most of what our senses pick up. The question is, do we discard the right stuff.

Information treatment

Even if some stuff has been identified as relevant by someone, stuff usually comes in a raw format. That means it is not comprehensible to anyone except by someone with the « language » skills (yes, mathematics is a language) to understand it. Such experts need to treat the data for it to become usable for a large(r) group of collaborators. This is not magic, this is rendering a raw data set into an accessible graphic, with some preliminary conclusions which can be derived from that data set.

Information availability

Even if data or information has been treated, that is not enough for it to be usable. Usability also requires availability. The information, in its treated form but with links to the underlying raw data, needs to be stored somewhere it is accessible to all people concerned in the organisation. These people do not just need access, they also need to aware the information exists and can be found at a specific location, the information repository.

Information timeliness

Even having information available is not enough for it to be relevant ... All information has a past due date. Sales figures that are a couple of months old are, for example, significantly less relevant than last week's sales figures. In other words, if the information in the information repository is outdated, it cannot serve its principal purpose of decision support.

Time to work the information

What you deem relevant but what you have not done the work on yet, is information for you, not knowledge. In other words, what is knowledge to someone else and shared with you is not (yet) your knowledge. Knowledge building injects your unique point of view into information, and will allow you to work with it (provided you break it down in bite-sized pieces, atomic knowledge, but that is another article) In order to achieve that state, you need to work with, to absorb the information, to think and - ideally - to write about it and turn it into something you can inject into a decision making process.

A practical example and a counter example

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So, let's take a step back and look at a traditional executive committee level decision making process. A team looking for a budget will present a case to explain the asked for spend. They will first present the current context. That current context contains most often the reason for the spend. Most committee members will, at the time of the presentation, be confronted with that context information for the first time. This is new information to them. They did not have access to or were not aware of the availability of relevant information before that moment.

Now, if a decision needs to be made at that moment, right after the presentation, this decision is likely to be very subjective, and not the best possible decision at all. It will be influenced not by the facts, but by the quality of the presentation, the degree in which the presenter is convincing and the interaction between the information and the beliefs of the ones listening. Are you sure this will lead to the best possible decision? I sincerely doubt it.

So, let's confront that with another approach. An information repository has been available and continuously updated with information as processed by collaborators within the organisation, each doing the work of qualifying stuff as information, treating that information and making it available in a timely manner. Members of the executive committee take the time, as is their responsibility, to process this information and translate it into knowledge. Each member comes with their own expertise and baggage, which both create multiple processing filters for that information, resulting in pieces of unique knowledge they can contribute as information to their colleagues.

This is where the added value of an executive committee as a meeting of representatives of each of the departments of the organisation really starts to shine. Based on a common and shared information repository, each member adds their perspective and teh whole will for a basis for discussion, which in turn will lead to a more objective, more founded decision based on a combination of perspectives.

Conclusion

With the correct preparation, with access to the right information at the right time, we can significantly improve the decision taking processes in organisations. But we need to be as internally transparent to the rest of the organisation as the story of the Kardashians is to all of us.

Here are 5 tips for building an effective multi-layer security strategy:

1.     Implement Strong Authentication Measures

One of the most important components of a multi-layer security strategy is strong authentication. Authentication is the process of verifying that someone is who they claim to be. There are many different authentication methods, but the most common are something you know (like a password), something you have (like a security token), or something you are (biometrics).

Using multiple authentication factors – known as two-factor (2FA) or multifactor authentication (MFA) – is the best way to ensure that only authorized users can access your data. Requiring MFA makes it much more difficult for cybercriminals to gain access to your systems, as they would need to have possession of all the required factors.

2.     Encrypt All Sensitive Data

Another important element of a multi-layer security strategy is encryption. Encryption is the process of transforming readable data into an unreadable format. Encrypting sensitive data helps to protect it from being accessed by unauthorized individuals, even if they can penetrate your defenses.

Encryption should be implemented for data “at rest” and “in flight”. Most web services today will use secure socket layer (SSL) encryption to encrypt communication sessions “in flight” between users and the service. Data sitting on a storage device – hard drive or SSD – is “at rest” and can most often be encrypted using features the device operating system (OS). It usually needs to be activated during setup and a policy control needs to be set so it cannot be turned off.

3.     Implement Perimeter Security

Your workforce and company resources in your offices need to be protected by sophistication perimeter security techniques. A firewall controls the flow of traffic between your private network and the public Internet. It can be used to allow or block traffic based on a set of rules. This helps to protect your network from unauthorized access and malicious activity.

Intrusion detection and prevention systems (IDPS) are another important layer of security. These systems are designed to detect and prevent unauthorized access to computer networks. IDPS can be deployed as hardware, software, or a combination of both. They work by monitoring network traffic and looking for suspicious activity that may indicate an attempted intrusion. When IDPS detect suspicious activity, they can take action to block the attempt and alert the system administrator. This helps to prevent attacks before they can do any damage.

4.     Utilize Perimeterless Defense Systems

When your workforce is working outside the office, they are also outside the firewall. When this is the case, other “zero-trust” or “perimeterless” tactics need to be added. If the user’s device OS supports a firewall, it should be activated and managed by policies that can be pushed from a central authority. DNS Security – both DNS filtering and DNS encryption should be implemented to prevent users being redirected to fraudulent sites without their knowledge.

Finally, endpoint detect & respond (EDR) software should be installed on any user device to help prevent malware, ransomware or other malicious code from infecting the device.

5.     Educate Your Employees

One of the most important components of a company security strategy is education. It is essential that all employees are aware of the risks associated with cybersecurity and the best practices for avoiding them. Employees should be trained on how to identify phishing emails, spot social engineering attacks, and understand the importance of keeping their passwords safe.

In addition, employees should know what to do if they suspect that their account has been compromised. They should know how to report suspicious activity and whom to contact for help. By educating your employees about cybersecurity risks and best practices, you can help to protect your business from attacks.

A multi-layer security strategy is the best way to protect your business from cybercrime. By implementing multiple security measures, you can make it much harder for cybercriminals to succeed in their attacks.

By following these tips, you can make it much harder for cybercriminals to succeed in their attacks. Implementing a multi-layer security strategy is an essential part of protecting your business from the ever-growing threat of cybercrime. By doing so, you can help to ensure that your business is as safe as possible from the ever-growing threat of cybercrime.

So what are you waiting for? Implement a multi-layer security strategy today to help keep your business safe from cybercrime. If you would like more information or have questions about how strong your cyber-readiness is, please contact Montra at sales@montra.io.

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