A study conducted by Ponemon Institute found that 60 percent of organizations globally had suffered two or more business-disrupting cyber events — defined as cyber attacks causing data breaches or significant disruption and downtime to business operations, plant and operational equipment — in the last 24 months. Further, 91 percent of respondents had suffered at least one such cyber event in the same time period.
Despite this documented history of damaging attacks, the study found that 54 percent of organizations are not measuring, and therefore don’t understand, the business costs of cyber risk. The report concludes that organizations are unable to make risk-based business decisions backed by accurate and quantifiable metrics, resulting in a lack of actionable insight for the C-suite and board of directors.
