Security News > 2022 > July > Average cost of data breach surpasses $4 million for many organizations
Average cost of data breach surpasses $4 million for many organizations.
To create its "Cost of a Data Breach Report 2022," IBM Security commissioned Ponemon Institute to analyze 550 organizations hit by data breaches between March 2021 and March 2022.
Among the organizations analyzed for the research, 85% were the victim of more than one data breach during the 12-month period included in the study.
The average cost of a data breach hit an all-time high of $4.35 million this year, a gain of 2.6% from 2021 and 12.7% from 2020.
To safeguard an organization's cloud-hosted databases, use data classification schemes and retention programs so IT departments can more easily see and reduce the amount of sensitive data vulnerable to a breach.
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