Summary
The Cost of a Data Breach Report 2023 is a comprehensive analysis aimed at IT, risk management, and security leaders, providing quantifiable evidence to assist in managing security investments and risk profiles. This report, marking its 18th consecutive year, is based on research conducted by the Ponemon Institute and sponsored by IBM Security. It examines data breaches that occurred from March 2022 to March 2023 across 553 organizations in 16 countries and 17 industries. The report details the root causes and consequences of data breaches, highlighting key cost factors and the impact of various mitigation strategies. It also presents findings on the average total cost of a data breach, which reached USD 4.45 million in 2023, reflecting a 2.3% increase from the previous year. Additionally, the report outlines recommendations for reducing breach costs and discusses trends in security investments and technologies that can mitigate risks.
