6 Steps to Protect Against a Data Breach

5. Invest in security in advance, not after the fact. According to a study released by the Ponemon Institute, the average data breach in 2014 cost $3.5 million, a 15 percent increase from the year prior. This number will likely continue to rise. Investigating, responding to and resolving a cybersecurity incident is time intensive and costly. Damage to your brand and reputation is also significant, and companies must spend heavily to regain trust. Having a security strategy in place with effective tools and an incident response team is critical to mitigating risk and reducing potential damage from a data breach, including financial loss.