This is part 1 of a 4-part series examining data breaches, what they cost, why they are increasing in frequency, and what you can do about them.
By just about every measure, 2015 was a record year for data breaches, and 2016 is on pace to beat it. Not only is the number of breaches increasing, but so are the costs. The Ponemon Institute’s 2016 study of 383 organizations worldwide found that the average cost of a data breach rose from $3.79 to $4 million over the previous year. If numbers like that make your eyes glaze over, let’s break them down into components any business can relate to: what really constitutes the cost of a breach?