Average Cost of a Data Breach is $3.79 Million

On May 27, USA Today published an article on how costly data breaches are to large companies. In a survey conducted by the Ponemon Institute and IBM, it was found that breaches cost large companies and average of $3.79 million globally. For companies based in the United States, the average cost is $6.5 million.

Additional statistics include:

• 350 Companies in 11 countries experienced a data breach. 62 companies surveyed were based in the U.S.
• Costs of data breaches has increased 23 percent since 2013.
• 25 percent of breaches are caused by human error, while 47 percent are malicious attacks.

Although this survey was conducted by surveying large businesses, the moral of the story is, no matter your business size, data breaches are costly and harmful. From avoiding costly downtime, to , Yeo & Yeo Technology offers a number of solutions to help organizations protect their data. Please contact us if you have any questions or would like to learn more.