Cisco Sees $80 Billion Cybersecurity Opportunity

Any company that doesn't effectively lock down its data is susceptible to a data breach, and data breaches are expensive. Dealing with a data breach now costs $4.24 million on average, according to IBM's latest data breach report, with more than one-third of that cost stemming from lost business resulting from increased customer turnover, system downtown, and diminished reputation.

It's in every company's best interest to employ robust cybersecurity measures. Effective cybersecurity isn't cheap, but it's a much better deal than suffering a data breach. Big companies like T-Mobile, which suffered a major breach in July and took a month to even realize that something was amiss, are still learning that lesson.

One problem for companies looking to build a cybersecurity strategy is the sheer number of options. There are more than 3,500 security point-solution vendors, and many companies end up using dozens of separate security products to cover their bases. That complexity is costly in terms of time and money.

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Source Fool.com