Data Protection Business Drivers and Challenges
In today's global, 24x7 business environment organizations need real-time access to data, but with increased insider risks and targeted external threats, there is a fine line between enabling access to information and protecting it. Both the business and IT environment and threat landscape continue to evolve:
- The borderless enterprise - data is less centralized than ever before due to dis-aggregated supply chains, outsourcing, and a mobile workforce.
- The consumerization of IT - users are increasingly defining the IT environment by bringing their productivity tools (USB sticks, flash drives, etc.) into work.
- Increased insider risks - almost half of all serious data breach incidents are sparked by insiders.1 While many of these are innocent mistakes (e.g., losing a laptop or USB stick), the current economy has spawned an increased insider threat with 59 percent of insiders admitting they would steal sensitive data if they leave or are asked to leave their current employer.2
- Lost / Stolen Laptops – Surveys indicate that 86% of organizations have had a laptop lost or stolen, and 56% report that it resulted in a data breach.3 And an astonishing 58% of these laptop losses happened at work.4
- Organized cybercrime - the value of information has driven the rapid expansion of sophisticated organized criminal networks, which are shifting their focus from credit card data to corporate IP.
The concern over data loss/theft has spawned a myriad of regulations ranging from global and country to industry-specific and local government. All of these regulations add another layer of risk and failure to comply with regulations like SOX, HIPAA, HITECH and PCI compliance can result in very real economic damage, both directly in cost and indirectly in terms of lost customers and business.
The cost of non-compliance, or lost/stolen information to an organization is dramatic as average organizational cost of a data breach has now reached $7.2 million, and lost business accounts for 63 percent of breach costs.6
When data breaches occur, customers lose trust in an organization and brand equity is reduced. But while these costs are certainly sobering, they pale in comparison to estimated $1 trillion in annual losses of corporate IP.6
When developing your data protection posture in this increasingly challenging environment, it is important to balance the rewards of accessible data (and the collaboration / productivity it enables) with the risks (and costs) of losing your data. The Lumension® Data Protection solution is comprised of the Lumension® Device Control module and the Lumension® Disk Encryption Add-On, both of which are available on the Lumension® Endpoint Management and Security Suite. With it, you can:
- Security Industry Association, Quarterly Research Update - 2011.1, January 2011
- Ponemon Institute, Data Loss Risks During Downsizing, February 2009
- Ponemon Institute, The Billion Dollar Lost Laptop Problem, September 2010
- IDC, Laptop Theft- The Internal and External Threats, September 2010
- Ponemon Institute, 2010 Annual Study: U.S. Cost of a Data Breach, March 2011
- whitehouse.gov, Cyberspace Policy Review, June 2009