September 9, 2015
The results of the 10th annual GlobalCost of Data Breach Study confirmed the tangible costs of a data breach increased 23 percent from just two years prior to a staggering $3.8 million. Released earlier this year by the Ponemon Institute and sponsored by IBM, this study is the security industry’s gold standard for measuring the costs of a data breach. Left out of the equation though is the true, long-term cost to your organization’s reputation, which can compound well beyond measurable figures.
If customers lose confidence in you, they may turn to your competitors. Customer churn is noted to be the largest overall source of loss in a data breach.
The impact on a business can also last well into the future. Data breaches result in damage to your business’s reputation. The costs of a data breach will spread along the supply chain, minimizing the market and its shares, and putting people’s livelihoods at risk.
Increasingly, accountability for data breaches is being focused on CEOs and executive teams, not only by those directly responsible for security. To a customer, a data breach is a betrayal of trust, and regaining that trust takes a lot of time, during which your business will likely continue to lose both profit and market share.
ITS’s storage experts can assess your current storage infrastructure and data requirements, design a solution that meets your needs, and provide technical staff to complement the skills of your in-house team. Whether you simply want to increase the efficiency of your current storage networking solution, or whether you’re ready to tap into the greater reliability and performance of storage virtualization, we can help.
In short, your success in the marketplace demands taking network security very seriously—investing time and money in being absolutely certain information is truly safe. Businesses that proactively maintain customer trust and loyalty are those that will experience longevity.
Thanks for reading,
Rob Connary, President - COO
