Issue link: https://insights.oneneck.com/i/1094068
CISCO CYBERSECURITY SERIES 2019 Data Privacy Benchmark Study 9 Another tangible benefit from GDPR- readiness is that it appears to lower the frequency and impact of data breaches. GDPR requires organizations to know where there personally identifiable information (PII) is located and provide appropriate protections for this data. These efforts may have helped organizations better understand their data, the risks associated with their data, and to establish or strengthen protections for that data. While most companies reported having a data breach in the last year, a lower percentage (74%) of the GDPR-ready companies were impacted, compared to 80% of the organizations less than a year from GDPR readiness and 89% of those that are farthest from being GDPR ready. (See Figure 9) " Organizations have a long way to go to maximize the value of their privacy investments. Our research shows that the market is set and ready for those willing to invest in data assets and privacy may be the path forward to get there. " Michelle Dennedy, Chief Privacy Officer, Cisco Figure 9 Source: Cisco 2019 Data Privacy Benchmark Study Probability of a Breach 0 20 40 60 80 100 74% 80% 89% 0 50,000 100,000 150,000 200,000 250,000 Records Impacted in Breach 79,000 100,000 212,000 System Down Time Due to Breach 0 2 4 6 8 10 6.4 8.1 9.4 GDPR ready GDPR ready <1 Year GDPR ready >1 Year Business benefits of privacy investments Probability of a breach N=3206 Records impacted in breach N=2454 System downtime due to breach N=2454 Weeks Records Percent Figure 8 GDPR ready GDPR ready <1 Year GDPR ready >1 Year 0 1 2 3 4 5 3.4 4.5 5.4 Source: Cisco 2019 Data Privacy Benchmark Study Average weeks delay (existing) Percent of respondents, N=2081 Weeks