02-25-2010 03:26 PM
Thanks for your question about securing your data. Financials and Health Care are only 2 of a plethora of reasons for why you would need to secure your data. There are a number of regulatory and compliance drivers which are not limited the aforementioned industries.
However, regulatory and compliance also also just pieces of the puzzle. Securing your data is also about protection of intellectual property and brand protection. Research from Gartner estimates the cost of of a 100,000 record breach at $90 per affected customer. This cost does not take into account the costs associated with brand damage or fines. The same study found that the cost to encrypt the data was $6 per customer account. There have been additional studies from Forrester Research with similar findings of even greater costs per record taking into account other factors such as: notification costs, lost employee productivity (employees diverted from revenue generating tasks to deal with the breach), and court ordered restitution.
As you can see, there are many factors driving the desire to secure data through encryption or by other means and this drive is being seen across all sectors.