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Is Retail at Risk?

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Is Retail at Risk? - overview

Short on time? Here’s an overview:

As demonstrated by the breaches at T-Mobile, Kroger, and Bonobos, data has become the most valuable commodity of our time. Yet surprisingly, many companies are not even taking basic security measures to comply with this new reality. No surprise, the future is hybrid cloud for retailers. Hybrid cloud offers maximum flexibility, as retailers have a mix of public and private cloud, as well as on-premises environments. Some may even say that public cloud is an evolved sibling of the on-premises environment, with the exception of the shared security responsibility. Those retailers embracing hybrid cloud solutions are the leaders. From streamlining operations to personalization, it’s all about data. Effectively using customer data to create an exceptional shopping experience is not an option, it’s table stakes. And standing out in a crowded online marketplace is only possible with hyper customization.

Everyone is talking about how the past 18 months have impacted the way we all work. Yes, we get it, everything has changed. But what about how the pandemic has and continues to affect the way we live, the way we consume and the way we purchase goods and services? Since we last published the Unisys Security Index™, there have been a number of high-profile breaches at well-known retailers, including T-Mobile, Kroger, and Bonobos.

The 2021 Unisys Security Index further supports these trends, as online shopping security concerns jumped five points—to 51%—compared to last year. Retailers have an obligation to ensure the integrity of their clients’ Personal Identifiable Information (PII). But first, retailers need to secure their infrastructure, as well as the employees accessing this infrastructure.

Adapt security platforms for remote work

When the pandemic first hit, many companies were unprepared for the security challenges that remote work presents. Gone are the days of using old, non-scalable VPNs. While VPNs have long been a trusted and popular solution for securing remote access to company resources, they are not the best solution to support and secure today’s changing workforce. Leading retailers are using more advanced security solutions, including fast, encrypted access, identity verification tools, and micro-segmentation to limit the damage caused by incoming malware. Advanced security solutions utilize machine learning to continuously monitor end user and endpoint activities, comparing them to behavior patterns and company policies. This allows security teams to immediately detect unusual activities and identify compromised accounts or insider threats. Providing timely alerts when suspicious activity is identified enables an immediate and highly-targeted response. This significantly speeds up incident response and reduces the time attackers have to snoop around your network.

But what about the cloud? It’s impossible to talk about security without considering where you are in your cloud journey.