German firms excel in responding to data breach but face higher costs

(MENAFN) A recent study conducted by IBM has highlighted that German companies exhibit notable efficiency in detecting and managing data leaks. According to the research, these companies take an average of 185 days to identify and address data breaches, a significantly quicker response time compared to the global average of 258 days. This efficiency is attributed to their advanced detection systems and rapid incident response protocols.

Despite their quick response, German companies face higher costs associated with data breaches than their global counterparts. The average cost of a data leak in Germany has risen to €4.9 million, marking a 14% increase from the previous year. In comparison, the global average cost for such incidents is approximately €4.5 million, with a 10% increase observed globally. This indicates that while German firms are faster at managing breaches, they incur greater financial damage when breaches occur.

The study's findings are based on a limited sample size, with data collected from around 600 companies worldwide, including 47 in Germany, between March 2023 and February 2024. Therefore, while the results provide valuable insights, they should be interpreted with caution due to the relatively small number of cases examined, particularly in Germany. 

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