Why Data Discovery And Classification Are Important
Security Boulevard, Thursday, October 31st, 2024
Why Data Discovery and Classification are ImportantIn the modern world, data is a critical asset. In fact, today, data is the foundation of any business. If a company loses its data, or that data is compromised, it can significantly damage the business in terms of brand reputation, financial performance and customer loss.
According to IBM, the average cost of a data breach rose from 3.86 million (USD) to 4.24 million (USD) in 2021, the highest average total cost in the 17-year history of the report. Compromised credentials was the leading cause of breaches, responsible for 20 percent of all breaches at an average cost of 4.37 million (USD).
To avoid the harsh consequences of data loss or compromise, data protection is essential - but there's one major problem holding the majority of businesses back. Visibility.