Intelligent CIO Europe Issue 63 - Page 85

FINAL WORD media , such as disk and tape , with one of those copies located offsite for Disaster Recovery . The final one in this equation is immutable object storage . Immutable object storage is a next-gen data security tool that continuously safeguards information by taking snapshots every 90 seconds . It guarantees that even in the case of a significant SaaS outage , you can quickly recover your data .
2 . Cost cutting will cause more harm than good
With spiralling energy prices and runaway inflation , companies across the board will implement cost optimisation in 2023 . But one thing that organisations cannot afford to do is cut back on their data protection efforts . Even as companies rethink their operational expenditures to deal with inflation , they still need to invest in protecting , storing and backing up their data .
Data protection may appear to be an easy place to trim and save some money , but any cuts to your data defences will come with higher costs . The most recent IBM Cost of a Data Breach Report found that the average cost of a breach to a US business in 2022 was US $ 9.44 million . In 2023 , it will be essential to recognise the importance of your data and make sure that any cuts to your budget have minimal impact on your business operations .
3 . Companies will have to allocate their security budgets wisely
That said , many companies will do some belt-tightening in security . Those that do should be aware that this is when the bad guys tend to pounce . Cyberthieves are always looking to exploit vulnerabilities . Therefore , companies that consider economic measures should do so wisely and look at where they allocate their budget concerning data security .
Today , most companies invest in the basics like firewalls , antivirus and intrusion-detection solutions . But know that the bad guys will inevitably get through
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