Too many enterprises are pouring millions into proving compliance — reports, audits, certifications. But regulators often only enforce surface-level paperwork. Meanwhile, the real risk remains unaddressed.
In AT&T's recent $177M breach settlement, 70M people were eligible for up to $5K each. If everyone claimed, the bill would be $350B. Instead, companies bank on low claim rates.
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.