27 July 2011 05:12:42
Data security has become a major priority for many business, but according to a new study, some companies do not yet realize the potential damage a security breach can cause.
The study, published by Aveksa, found 42 percent of surveyed businesses think the average cost of a data breach is less than $200 per record. In actuality, the average cost is closer to $214 per record, according to figures from a recent Ponemon Institute.
This difference may be taxing for data breaches that involve hundreds, or even thousands, of records. This could be especially true for smaller companies, which often lack to resources necessary to absorb such damages.
However, the study also found that more companies are putting an emphasis on their data security practices. According to the study, 49 percent of survey respondents said unauthorized application access was a major concern, while 98 percent said strict data access work important.
This emphasis on data protection was reflected in a recent study from CDW. According to the study, 58 percent of surveyed businesses plan to spend more on security in the second half of 2011, making it the second largest IT investment area, behind virtualization.
-McAfee Cloud Security