How much does a data breach cost your company?
How much does a data breach cost your company? That's one of the toughest questions an IT security professional can be asked. The effects of a data breach are potentially catastrophic for a company, but it's a difficult task to quantify the risk.
That's why IBM has sponsored the Ponemon Institute's 2014 Study on the Cost of Data Breaches. This far reaching study is based on 1690 interviews across 10 countries and 16 sectors and is based on actual experiences of companies instead of could-have-happened theoretical discussions.
The Ponemon Institute has released both a global report and 10 country specific reports:
One of the most eye-popping charts in the report analyzes the reported data to show the clear relationship between the size of the breach and its cost: Keep in mind that this is not some hypothetical computer model. This is a regression based on the actual interviews and their reported data.
The 2014 Ponemon Cost Of Data Breach study is must reading for anyone needing to build a business case for protecting against data breaches.