The Preventable Costs of Data Breaches

Posted by ownCloud GmbH – 3. June 2015

Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net

These days, it’s nearly impossible to turn on your TV or browse the Internet without being inundated with news of the latest data breach and the resulting financial fallout. Whether it’s retailers like Target, healthcare providers like Anthem and Premera Blue Cross or the most recent high-profile target, the IRS, these breaches are increasing not only in frequency, but in the financial impact they have. In fact, a recent report from Juniper Research found that, by 2019, the cost of data breaches will quadruple to $2.1 trillion (the “t” at the beginning of that word is not a typo). The average data breach, Juniper posits, will cost the effected organizations upwards of $150 million.

Despite these disturbing trends in data loss, cloud computing continues to gather steam, as organizations look for ways to stretch their dollars. The promise of lower TCO and flexibility is often too good to pass up. But the fact remains that the same factors that make up the cloud’s primary selling point – easy access to centrally stored data – make it significantly more vulnerable than data kept on premise.

That’s where we come in at ownCloud. Every day, we deal with customers that want the collaboration, flexibility and extensibility offered by the cloud, but are simply not willing to take the gamble that cloud service providers will allow them to maintain ownership and control of the data that drives their business. We help our customers keep their data where it is – and where it belongs – while still enabling universal file access and collaboration they need to support their business.

We’re living in an age where, whether we like it or not, people are after our data. As long as it’s valuable, someone out there wants it. No one can guarantee with 100% certainty that they can keep your data secure, but keeping data on-premise certainly shifts the odds in your favor by limiting the access points that might make you and your data vulnerable.

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