Data security is a leading concern for CEOs across all industries—and for good reason. Each day, businesses face a wide range of potentially game-ending cyber threats. Malware, phishing, DDoS attacks, and rogue employees are just a few of the dangers lurking in the waters of digital transformation.
Why exactly is data security such a concern?
It’s simple: Data breaches can be exorbitantly expensive. In fact, a recent study by IBM revealed that the average cost to US companies is $8.19 million. Healthcare breaches tend to be the most expensive to resolve, with the average cost hovering around $6.4 million.
What’s more, the same IBM study showed that loss of customer trust accounts for 36% of the damages that companies face. This goes to show that data breaches are not only extremely disruptive and costly to businesses in the short term, their effects will be felt for years down the road—and perhaps even indefinitely.
In this post, we’ll be answering the question: What is the biggest threat to data security? Further, we will give you some tips on how to mitigate it.
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