If you're in retail, ecommerce, finance, insurance, or sales (and the list goes on), you're probably using big data —or you're envious of companies that do. Big data is largely what it sounds like—the process of generating reams of data from customers and clients, and crunching those numbers to uncover hidden trends. Big data is growing at 12.8% per year, and 40% of analytics firms have capitalized on big data already.
According to a new survey, 34 percent of companies say that up to half of their employees routinely share data with third party organizations, including vendors, partners, customers, and contractors. This has become a dominant trend in the world of businesses, which race towards outsourcing. Non-core functions such as accounting, payroll, manufacturing, and even IT security have all been sloughed off.
It’s no mystery that companies and individuals are hacked every day and information is compromised. Criminals use this information in many ways and one of them is to profit from it in the global markets violating insider trading laws.
As more and more insurance companies continue to opt for secure and safe file exchange for their clients’ data, they are at the same time becoming a hacker’s paradise. The reason is simple: insurance companies hold a massive amount of important data, and most hackers are focusing specifically on the file exchange solutions that insurance companies are using.
For a lot of companies, file upload is one of the main methods for doing business with the public. As an example, let’s say that you’re customer doing business with a health insurance agency, and they’d like some records from you. Unless there’s a problem with your application, you’re not likely to ever communicate with a specific agent.