As more and more companies embark on digital transformation to drive business, they are making use of vast amounts of consumer data. While this significantly increases business opportunities, it also comes with risks. Customer brand loyalty is built around their trust in the company’s products and services and their customer support experiences. Data breaches can have catastrophic effects on a company’s bottom line and brand loyalty. The Ponemon Institute estimated in 2020 the average cost of a data breach to be $3.88 Million. But it’s hard to quantify the impact to brand loyalty, which could be even greater. Today we will discuss the rise of the CDO in the C-suite and the need for a strong partner with the CISO for successful business operations.
Marianne Bailey, Partner & Cybersecurity Leader, Guidehouse