News and Analysis

IBM’s recent “Cost of a Data Breach Report” estimated the cost of a breach at $4.5 million per incident on average. However, companies can mitigate the damage by shifting focus from network and device security to data security. Embedding granular security controls around the data ensures its safe use regardless of location or access medium. This requires executive buy-in, identifying and classifying valuable data, developing protective policies, automating data protection, and taking on board employee feedback. This could render breaches relatively inconsequential, protecting corporate reputation and profits.