Data Breaches Losses to Cost Trillions. Can E-learning Stop It?

Data Breaches Losses to Cost Trillions. Can E-learning Stop It?

Data Breaches Losses to Cost Trillions. Can E-learning Stop It?

What is your reaction by taking a glance at the report which states that data breaches can cost up to $2.1 trillion globally by 2019 (Source: Sue Reisinger)? The fact is true enough. As the cost of data breaches is sky-rocketing, it is likely to impose a tremendous burden on compliance managers to tame this Goliath. Can e-learning help ease this task?

What is a Data Breach? 

A data breach can best be explained by a situation where sensitive, confidential data has been leaked or hacked, viewed, or used by an unauthorized person or body without acknowledging the source of the content.

Organizations that suffer a data breach not only lose confidential information but their reputation and productivity is also affected.

How can Organizations Prepare their Employees to Control Data Breaches? 

If you take a closer look at the root cause of the problem, you will find that employees are the weakest link in the context of data breaches. It is not only because they are unaware of the regulations and their corresponding responsibilities, but they also don’t know the implications of data breaches. They lack the awareness that a simple laundering of confidential data results in hefty losses worth millions, billions, or even trillions.

The Next Step…

Employees need to be educated on practicing and reinforcing the data protection process of his or her organization. To create this awareness among employees, effective compliance training is a must.

The Compliance Managers Comes in… 

The onus is on compliance managers to identify the best method to train employees on data protection. It can be via face-to-face classroom training or e-learning. Based on the working environment, employees’ spread, and other parameters, compliance managers need to decide which method fits the organization best.

How Does E-learning Provide Effective Data Protection to Employees? 

1. Provides flexibility and choice

E-learning provides the flexibility, which means employees can complete the course at their own convenience. They can do it when they are more receptive to the knowledge.

2. Ensures wider reach

Do more in less time. It becomes easy to train more employees in less time. The courses will be hosted on the LMS and can be accessed by all employees, worldwide.

Types of E-learning that will help…

1. Induction Program Including Compliance Training 

A good induction program includes a holistic knowledge of the compliance process that needs to be followed. The e-learning helps employees know the implications of data breaches at the start of their career. They should be aware of the consequences that might arise if they violate any specific regulations.

2. Simulations and Games

Real world events can be simulated and e-learning helps learners experience a crisis situation and think of ways to recover from it. It also provides learners a better understanding of the possible outcomes.

3. Videos 

Adding videos in e-learning makes sense. A good video is enough to prepare a member in the event of a data breach and also help them deal with the consequences.

Thus to summarize, an e-learning included in an induction program or taking the form of a simulation or even videos will suffice to strengthen awareness among the employees on the aftermath of data breaches. Thus, compliance managers should identify e-learning as the potential tool to reduce their burden of $2.1 trillion.

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