Using Data Breach Analytics to Reduce Risk
When an organization suffers a data breach, how can it quantify the total of all the associated costs? The scope of costs goes way beyond a fixed dollar value per stolen record and extends to include legal fees, third-party forensic services, loss of reputation and defense improvement, as well as state and federal penalties. In this session, we will discuss a straightforward approach to quantifying and reporting on the potential financial liability and impact of a data breach. We will use real world experiences to show how to create actionable intelligence encompassing sensitive data and detected threads as well as the importance of producing reports and analytics showing:
- Liability exposure for C-level executives and board members tied to financial reporting;
- Clear prioritization of where to invest IT resources to prevent breaches and maintain shareholder value;
- Metrics that substantiate and validate efforts to reduce and mitigate the impact of a breach;
- Calculations to help evaluate cyber security insurance.
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