Both chief marketing officers and IT personnel agree data breaches significantly affect brand reputation, according to a Ponemon report.
The report — sponsored by Centrify and titled The Impact of a Data Breach on Reputation and Share Value — surveyed 448 IT operations and information security staffers, 334 senior level marketers and corporate communication professionals and 549 consumers about data breaches.
Here are five survey findings.
1. Eighty percent of consumers trust healthcare providers to protect their personal information, making healthcare providers the most trusted type of organization in the survey. However, healthcare organizations account for 34 percent of all data breaches.
2. Healthcare organizations take an average of 107 days to recover from a data breach, higher than financial services (71 days), insurance (47 days) and pharmaceutical (44 days) organizations.
3. The stock value index of a healthcare organization declines an average of 6.26 percent the day a data breach is disclosed. Among all organizations, the average drop in stock value is 5 percent.
4. The top issues chief marketing officers and IT personnel believe have a negative impact on their organization's reputation are poor customer service and environmental incident, along with data breaches.
5. However, two-thirds of IT practitioners don't believe their company's brand is their responsibility.
Click here to view the full report.