Over the last several years, data breaches and ransomware attacks have become increasingly grim realities across all industries, affecting companies of every size regardless of the sensitivity of their data. The Identity Theft Resource Center reported a record 1,862 data breaches in 2021 alone, a 68% jump from 2020. At the same time, ransomware attacks overwhelmed corporate IT teams: Cybersecurity firm SonicWall flagged 623 million ransomware attacks last year — up 105% year over year — including an 1,885% increase in attacks on government targets and 755% on healthcare.
As data has become the lifeblood of modern organizations, and cyberattacks continue to threaten data and customer trust, data management and security have become primary concerns. A recent Reltio survey of top insurance leaders found that companies are facing formidable data-related challenges: 31% of respondents identified data complexity as a top issue, while 27% cited data silos and app proliferation, and 22% flagged cybersecurity concerns. Asked what was most important to their digital transformation efforts, 38% pointed to data security and privacy.