You’ve probably seen the Ponemon-IBM study examining the cost of a breach. This year, the average breach caused $4 million in damage, or roughly $158 per lost record. But the cost is different for every breach, depending on the nature of the data lost, how vital it was to the operations of the business in question, and what remediation is necessitated. Is there any way to more accurately predict what a breach would cost for your organization? That’s exactly what the Privacy Ref, Bob Siegel, FIP, CIPM, CIPP/C, CIPP/E, CIPP/US, CIPT, is looking to do as part of a project with St. Joseph’s University professor Ronald Klimberg, whereby undergraduate data analytics students will compete to create the best metric for predicting breach impact on an organization. IAPP Publications Director Sam Pfeifle talks with Siegel and Klimberg about the effort for The Privacy Advisor. Editor’s Note: See Ponemon speak on “Protecting Knowledge Assets” at 12:15 p.m. on Thursday. Catch Siegel at the Privacy Ref booth, #34, on the exhibit floor.
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