Data breaches can be extremely expensive, but the events themselves represent only one part of the total cost of cybercrime and data security. Extenuating factors like customer churn, reputation damage and legal fees can all hurt an organization's bottom line over the long run. Even so, none of these costs may be the most expensive aspect of cybersecurity.
Modern business is a complex entity, comprised of disparate systems, platforms and departments. Troubleshooting problems and maintaining operational capacity at this scale can be extremely difficult if each corner of an organization is left to its devices.
If you're not experimenting with big data analytics, you could be putting your business at a competitive disadvantage. Analytics projects have the potential to unearth incredible insights related to customers, competitors, markets and internal efficiencies.
Despite what the well-known phrase "What you don't know can't hurt you" might have you believe, in fact the opposite is often all too true. For small and medium-sized businesses especially, the unknown presents pretty major risks.