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.
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.
The holidays are a time for reflection - to look back on past successes and failures, identify opportunities for change and plan for the future. Over the past several years, those failures could be readily described as data security-related for many organizations.