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IBM 2023 Cost of a Data Breach Report
Cybersecurity technologies are a critical, but also often an expensive necessity for organizations today. When deciding on security solutions and processes, it helps to understand the causes and costs of data breaches. To help, we're providing the well-known, annual IBM-Ponemon Institute's report, "The Cost of a Data Breach," which surveys organizations on how data breaches have impacted themThis reportrt for 2023 — conducted independently by the Ponemon Institute and sponsored, analyzed and published by IBM Security®—studied 553 organizations impacted by data breaches that occurred between March 2022 and March 2023.
Download this free research to learn about the root causes and short-term and long-term consequences of data breaches. The report also explores the factors and technologies that enabled companies to limit losses —as well as those that led to increased costs.
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In 2023, the average cost of a data breach reached USD 4.45 million, marking a 2.3% increase from the previous year's cost of USD 4.35 million. Over the long term, this represents a 15.3% rise from USD 3.86 million in 2020.
Impact of Security Investments
The report indicates that organizations are nearly evenly split on whether they plan to increase security investments following a data breach. The primary areas for potential investment include incident response planning, employee training, and threat detection technologies.
Role of Law Enforcement in Ransomware Incidents
Research shows that organizations that did not involve law enforcement in ransomware incidents faced 9.6% higher costs and experienced a breach lifecycle that was 33 days longer compared to those that did involve law enforcement.
IBM 2023 Cost of a Data Breach Report
published by Aavex Technology Corporation
Aavex Technology Corporation has been a leading Managed Security and Service Provider since 2002.
Business First • Security Focused• Effortless IT
We take a business first, security focused approach to providing our IT services. Aavex Technology Corporation specializes in wide range of services, including tailored IT services, hardware procurement, Cloud migration services, employee on-boarding and off-boarding checklists, network and IT infrastructure monitoring, Voice over IP and solutions for small and medium businesses and their owners in the Chicagoland area. We are committed to providing each one of our clients the highest level of quality service and support. Our unique IT team is incredibly friendly and can help you every step of the way in growing your business.
Assess • Deploy • Manage
Our approach uses our expertise to assess your IT infrastructure as it relates to your data assets and compares it to standards and processes, we have in place. Our standards will produce recommendations that result in a stable environment. The outcome is data assets that are kept confidential, unchanged, and available to your organization when you need it. Our helpdesk and on-site services will deliver the excellent support when you need it.
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