IBM announced the results of a global study exploring the impact of proactive data recovery planning on the cost and frequency of data breaches, both of which have been shown to decrease by more than 30 percent in organisations that embrace proactive recovery programs. There is a distinct competitive advantage in financial results, operational efficiency, and corporate reputation for organisations that deploy automated disaster recovery to maintain business continuity following a data breach.
The 2018 Cost of Data Breach Study: Impact of Business Continuity Management, conducted by the Ponemon Institute, reinforces the call for new solutions to combat evolving cyber threats around the world. The longer it takes to identify, contain, and recover from a data breach, the more it consumes significant time, money, and resources throughout an organisation. On average, responding companies that prioritise business continuity management saved 44 days in the identification of the incident and 38 days in the containment of the data breach. Taking proactive measures can have a substantial impact on the future health of a business.
As shown in the research, 60 percent of the survey participants who have a disaster recovery program currently use automation and/or orchestration to help drive faster recovery. These organisations reported they have been able to:
- Reduce the mean time to identify, contain and recover from a data breach by more than 30%
- Reduce the average daily cost of a data breach by more than 50%
- Reduce the chance of disruption to material business operations by more than 20%
- Reduce the likelihood of a data breach recurring by more than 30%
“The central takeaway from these study results is the invaluable opportunity that organisations have in the digital age to more effectively protect their organisations, their employees, and their customers,” said Andrea Sayles, General Manager of IBM Business Resiliency Services. “Cyber threats are real and will continue to grow, however adopting new innovations to help improve business resilience has proven to boost the long-term vitality of organisations across the globe.”
Business leaders simply cannot afford to waste time in an environment where competitors are constantly disrupting industries and capturing market share. The same technologies that are helping customers transform their business, including cloud, AI, automation, predictive analytics, and more, should also be designed and utilized to help keep those same customers protected following a data breach.
“Our research over the last few years continues to confirm that the proactive steps business leaders and organisations are taking to protect and recover critical data are working,” said Dr. Larry Ponemon, chairman and founder of Ponemon Institute. “These actions can improve the bottom line, make businesses more efficient, and give customers more confidence to entrust the enterprise with their data.”