📌 Digital Risk Management Summary
Digital risk management is the process of identifying, assessing, and addressing risks that arise from using digital systems and technologies. It looks at threats like cyber-attacks, data breaches, and technology failures that could harm an organisation or its customers. The goal is to protect digital assets, maintain trust, and ensure business operations continue smoothly.
🙋🏻♂️ Explain Digital Risk Management Simply
Think of digital risk management like locking the doors and windows of your house to keep it safe from burglars or bad weather. It is about spotting possible problems in computer systems before they happen and making sure you have plans to fix them quickly if they do. This helps keep information safe and systems working properly.
📅 How Can it be used?
Digital risk management can help a team plan security checks and backup strategies when launching a new mobile app.
🗺️ Real World Examples
A hospital uses digital risk management to protect patient records stored electronically. They regularly check for vulnerabilities in their systems, train staff on recognising phishing emails, and keep backup copies of important data to prevent loss in case of a cyber-attack.
A retail company selling products online uses digital risk management to monitor its website for suspicious activity, ensure customer payment details are encrypted, and create a response plan in case the site is hacked.
✅ FAQ
What does digital risk management actually involve?
Digital risk management is about spotting problems that can come from the technology and systems a business uses, like hackers trying to break in, personal data getting leaked, or computers failing at a crucial time. The aim is to keep everything running smoothly, protect information, and make sure customers and staff feel safe using digital services.
Why is digital risk management important for businesses today?
With so much business happening online, digital risk management helps companies avoid big headaches like losing money, damaging their reputation, or upsetting customers if things go wrong. It is a way to make sure technology keeps helping the business instead of becoming a source of trouble.
What are some common risks that digital risk management tries to prevent?
Some of the main risks include cyber-attacks that try to steal information or cause disruption, accidental data leaks, and technical failures that stop services working. By managing these risks, organisations can keep their digital systems secure and reliable.
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