Cyber security is a constantly evolving subject matter for businesses. Like the computer viruses that are generally associated with the term, the issue itself has proven infectious for corporations both in its reach and impact as it grows over time.
Many organizations have learned the hard way that it is also a very costly subject matter. A study produced by IBM and the Ponemon Institute suggests that the average cost of fixing or resolving a data breach in 2015 was more than $3.75 million. That number is only expected to grow.
The Effects of Cyber Security Attacks
The increasing level of connectivity has served as perhaps the predominate economic theme of the past quarter century. It has also created substantial new risk to the security of sensitive information. Moore’s Law of Computing states that overall processing power for computers will double every two years. Newton’s third law of motion states that for every action, there is an equal and opposite reaction. Combine the two theories together and you have a pretty good explanation of the future impact of cyber security on businesses. [Read more…]