Cloud Storage

Best practices when storing files online in “the cloud”

What is cloud storage?

Do you use Google Drive, Dropbox, or Microsoft OneDrive? If so, you’re not alone. Cloud storage has become a very popular and convenient storage option for millions of people worldwide. Cloud storage is a cost-effective service that allows data and files to be saved securely to a remote location that can be accessed via a public or private internet connection. 

How do cloud storage services work?

Cloud storage is a service that allows data and files to be saved securely in a remote location and be accessed via multiple devices. These services are offered by third-party vendors who provide space on their servers “the cloud” to securely store the data. The vendor hosts the cloud by securely managing the servers used to store data. Cloud storage is a cost-effective alternative to storing files at your business.

One of the greatest benefits to cloud storage tools is the availability and cross platform accessibility. Most cloud storage providers offer a variety of access methods such as through a web browser, installed application, or mobile device app. The variety of methods provide a way to access your data regardless of your connection type or location. In addition, cloud storage tools provide a secure and efficient way to backup important files and data in case of system failure or file corruption. Backing up your data to the cloud ensures you are able to retrieve these files quickly and easily even if faced with complete system failure.

Why is multifactor authentication so important?

The use of multifactor authentication is a practical way to prevent unauthorized access to your data. When used correctly, it will act as an additional layer of security to protect your data. MFA will verify something you know, your username or password, with what you have, which is that unique code sent to your device.

Therefore, if a bad actor had your credentials, they would be unable to access your account without that second verification step sent to your phone. Without the extra protection, a cybercriminal could cause harm by gaining access to your data. 

 

Best Practices: 

·       Always use multifactor authentication if it is enabled for the service. 

·       Use complex passwords to reduce the risk of hackers infiltrating your cloud storage. 

·       Ensure your cloud storage provider encrypts data. 

·       There are many different cloud storage solutions, take your time to research which

free or paid option might work best for you.

This material was prepared by LPL Financial, LLC.

LPL Financial and its advisors are only offering educational services and cannot offer participants investment advice specific to their particular needs. If you are seeking investment advice specific to your needs, such advisory services must be obtained on your own separate from this educational material.

This material is for general information only and is not intended to provide specific advice or recommendationsfor any individual. There is no assurance that the views or strategies discussed are suitable for all investorsor will yield positive outcomes. Investing involves risks including possible loss of principal.

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