IDC Spotlight Paper on the Critical Category of Data Mining and AI-Disrupted Incident Response
IDC Spotlight Paper on the Critical Category of Data Mining and AI-Disrupted Incident Response
Cyberattacks are more costly than ever. This year, the average price tag of a data breach skyrocketed to $4.88 million, a 10% jump from 2023 and the steepest increase since the pandemic. Recent headline-grabbing breaches suggest these figures will only climb higher. While the immediate fallout from a breach, such as addressing compromised systems and responding to ransom demands, often garners the most attention, a less visible but equally significant cost is the process of notifying affected parties. According to IBM’s 2024 Cost of a Data Breach Report, inefficient post-breach response — including notification efforts — is among the top drivers of rising breach costs. Victim organizations need more effective tools and strategies to streamline incident response and mitigate financial fallout.
When a breach of sensitive data occurs, companies are legally obligated to inform affected individuals, businesses, regulatory agencies and the media within a certain time frame based on a patchwork of state and federal laws.
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