Every year the financial impact of data breaches on organizations rises. Just this past year, IBM’s Data Breach Report revealed that the cost of a data breach has risen 12% over the past 5 years to $3.92 million per incident on average.
As technology advances, so do the cybersecurity options that can assist in securing the enterprise. However, these options are tools, and although they provide a solution to the cybersecurity skills gap, they also create a false sense of security that executives are not aware of (due to them not being experts in the areas of cybersecurity and tech).
One of the biggest problems from a data breach for companies is the loss in consumer trust following a breach event. This loss of trust involves loss of customers and an effort on the part of companies to regain that trust to keep customers. Both regaining and/or keeping consumer trust can present a challenge when CEOs aren’t pushing for holistic security measures.
A recent rundown of trends that keep CIOs up at night shows that companies are facing almost exactly the same challenges from years ago…