Data breaches can be catastrophic for businesses of all sizes, impacting customers, bottom lines, and resulting in significant reputational damage for those affected.
For several years, the cost of data breaches was growing rapidly. Analysis from IBM in July 2024, for example, showed the average cost of a data breach jumped to $4.88 million from $4.45 million between 2023 and 2024.
This, the study noted, marked the largest increase since the COVID pandemic, highlighting the significant costs associated with recovery.
One year on, and fresh research from IBM shows there’s some light on the horizon for enterprises impacted by breaches.
