No business wants to suffer a data breach. But unfortunately, in today’s environment, it’s difficult to completely avoid them. According to IBM Security 2022, approximately 83% of organisations have experienced more than one data breach. The global average cost of a data breach is now $4.35 million, up 2.6% from last year.
Companies don’t need to resign themselves to the impending doom of a breach. There are some proven tactics they can take to mitigate the costs.
Breaches in both the public cloud and private cloud cost more than those in organisations using a hybrid cloud approach.
Having a practiced incident response plan reduces the cost of a data breach. It lowers it by an average of $2.66 million per incident.
Organisations that don’t deploy zero trust tactics pay about $1 million more per data breach.
Data breach expenses lower by 65.2% thanks to security Artificial Intelligence (AI) and automation solutions. These types of solutions include tools like Advanced Threat Protection (ATP).
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