Data Classification
Data Classification is the conscious decision to assign a level of sensitivity to data as it is being created, amended, enhanced, stored, or transmitted. The classification of the data should then determine the extent to which the data needs to be controlled / secured and is also indicative of its value in terms of Business Assets.
The term Business Assets, as it relates to Information Security, refers to any information upon which the organisation places a measurable value. By implication, the information is not in the public domain and would result in loss, damage or even business collapse, were the information to be lost, stolen, corrupted or in any way compromised.
By identifying and valuing the business assets in an organisation, and the systems which store and process them, an appropriate emphasis may be placed upon safeguarding those assets which are of higher value than those which are considered easily replaceable - such as information in the public domain.