Cyberattacks targeting data cost organizations an average of $4.45m per breach globally , highlighting the critical importance of robust 1 data security strategies. As businesses increasingly rely on data as a strategic asset, the consequences of data breaches—ranging from financial loss and operational downtime to reputational damage—have become more severe. The evolving threat landscape, exemplified by incidents like the SolarWinds attack and the Colonial Pipeline ransomware, has made safeguarding data a top priority across industries. Worldwide end-user spending on security and risk management is projected to total $215 billion in 2024, an increase of 14.3% from 2023, according to a new forecast from Gartner, Inc. Yet, even with the added investment in security, bad actors continue to find new ways to exploit vulnerabilities.
With diversified risks, data protection’s role has evolved from a passive last line of defense to an active security partner in responding to and recovering from key threats. Four main risk types have emerged: availability, user, cyber, and process. Availability risks, such as those to hardware and applications, require continued attention to prevent data loss. User threats, like malicious exfiltration, have become more serious, especially with the rise of AI, which increases the utility and exposure of stolen data. Cyber threats like ransomware continue to pose significant risks, making secure backups essential. Finally, governance and compliance processes have grown with new regulations demanding verifiable accuracy and responsible handling across the entire data lifecycle.