Which strategy is most effective for managing sensitive data?

Limiting access based on roles and responsibilities is the most effective strategy for managing sensitive data because it establishes a principle of least privilege. This approach ensures that only authorized personnel can access specific data, reducing the risk of unauthorized exposure or data breaches. By granting access rights that correspond to an individual's job function, organizations can effectively control who interacts with sensitive information and under what circumstances. This method minimizes potential risks and enhances data security by limiting the vulnerability of sensitive data to internal and external threats.

Moreover, implementing role-based access can help organizations maintain compliance with various regulations and standards that mandate the protection of personal and sensitive information. It allows for better audit trails and monitoring of data access and usage, facilitating quicker responses to incidents and enhancing overall data governance.

While the other strategies also play a role in data management, none provide the targeted control over access that role-based limiting offers. Regular backups are essential for data recovery but do not protect data from unauthorized access. Similarly, sharing data broadly can lead to increased risks, and storing data in a single location creates a single point of failure that can be easily exploited by attackers.