Data Privacy Age
Data breaches are becoming a bigger threat than ever in today’s IoT connected world, according to this CEB blog’s infographic. A data breach is costing companies an average 4 million U.S. dollars, and that statistic is on the rise. The average cost of data breaches has already gone up 13% since 2014 alone.
There are four major factors that have been identified as the cause in this epic rise. 64% of employees access personal technologies such as social networks and email from work, creating a major hole in a company’s ability to ensure the flow of data is through trusted sites only. 65% of IT executives have been found to claim responsibility for technology use and information security, but they manage the company’s information technology very poorly. And while 79% of senior executives admit that finding new uses of data is key to encouraging growth, 69% agree that they can’t keep up with the increasing speed and finesse of cyber attacks.
By Jonquil McDaniel