Organizations face an ever-evolving landscape of cyber threats and regulatory scrutiny. The global average cost of a data breach in 2024 is $4.88M, IBM highlights in the 2024 Cost of Data Breach. Effective and accurate data classification has emerged as a critical strategy for enterprises to manage risks, enhance security posture, and build resilience.
Data is the currency of the digital landscape. However, the value of data lies not only in its existence but also in how it is managed, refined, and secured. For enterprises, effective data classification is critical in maximizing the value of their data while ensuring compliance with regulatory frameworks and safeguarding sensitive information.
In the era of digital transformation, organizations amass an unprecedented volume of data, which often includes both regulated data (PII, SOX, HIPAA, CCPA, UCPA, etc) and valuable intellectual property (IP). Ensuring the visibility and proper classification of this data is crucial for compliance, risk management, and safeguarding corporate assets.