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IBM Security 2023 Cost of a Data Breach Report
IBM's 2023 Cost of a Data Breach Report — conducted by Ponemon Institute and sponsored by IBM— examines the root causes and both short-term and long-term consequences of data breaches.
The report includes information from 553 organizations impacted by data breaches that occurred between March 2022 and March 2023 and explores the various factors and technologies that either limited or increased the costs of a breach.
Download the report and learn what works, and doesn't, in preventing data breaches.
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The average cost of a data breach reached USD 4.45 million in 2023, marking a 2.3% increase from the previous year's cost of USD 4.35 million. This reflects a long-term increase of 15.3% from USD 3.86 million in 2020.
Impact of Security Investments
The report indicates that organizations are almost evenly split on whether they plan to increase security investments after a data breach. Key areas for potential investment include incident response planning, employee training, and threat detection technologies.
Role of Law Enforcement in Ransomware Incidents
Involving law enforcement in ransomware incidents can lead to lower costs. The report shows that organizations that did not involve law enforcement paid 9.6% more and experienced a 33-day longer breach lifecycle compared to those that did.
IBM Security 2023 Cost of a Data Breach Report
published by Netbase Solutions Pty Ltd
Established in 2010, NETbase Solutions brings a wealth of experience across strategic, consultative and support services. We help enable collaboration, integration, and productivity using Microsoft cloud platforms such as: Microsoft 365, and Dynamics 365.
We are the Sunshine Coast Microsoft Partner specialising in Microsoft Office 365.
Our team of professionals revolutionise your business with thought leadership and brilliant outcomes.
To get more value from Microsoft 365, we have enabled remote working, enhanced security and compliance while keeping you up to date. Microsoft 365 brings together all the applications in the Microsoft Office stack into one simple platform.
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