Matt Kelly, CEO of RadicalCompliance.com notes that knowing statistics about the average cost of a data breach isn’t really much help to organizations. Organizations need to know know how to calculate the potential costs at their own organization, he writes, adding,
“Only then — when you have a solid sense of how a breach might affect your business — can you develop sensible, risk-based compliance measures to push those costs down.”
So how should an organization go about estimating those costs? Well, it’s complicated, but Kelly breaks things down into groups of costs and how to begin to estimate them.
Read more at Hyperproof.io.