RadarFirst Launches Inaugural Privacy Incident Benchmarking Report
First-of-its-kind report provides the privacy, compliance, and security community with important privacy benchmarking data to drive operational excellence.
Portland, OR — June 16, 2020 – RadarFirst announced today the release of Benchmarking Privacy Incidents 2020, the first report to analyze privacy benchmarks based on anonymized, aggregated metadata from a sample data set of tens of thousands of incidents. With this report, organizations can benchmark their incident response metrics relative to the financial services, healthcare, and insurance industries.
Compliance with rapidly-expanding global data breach notification regulations and contractual obligations is an increasing challenge. Leadership teams and boards of directors are keenly interested in the privacy posture of their organizations, given the risks and business implications of non-compliance with these regulations and obligations. Tracking, comparing, and reporting incident response metrics against industry benchmarks helps provide clarity in the face of these demands and drives best practices.
“Until now, organizations have never had the ability to benchmark their incident response operations and outcomes, and doing so in the context of their own industry. The ability to measure and compare your incident response program metrics is key to making data-driven investment decisions, as well as identifying opportunities for operational improvement in your privacy and compliance best practices,” said Mahmood Sher-Jan, CEO of RadarFirst. “The Radar platform provides our customers with real-time incident response benchmark data relative to their industry. With this inaugural report, the wider privacy community will benefit from robust and actionable benchmarking data based on real-world metrics to help gauge the efficacy of their program.”
A sampling of findings from the report:
- A third of all incidents were paper-based in 2019
- Only 2% of incidents in the past two years were caused by malicious actors
- Less than 1% of incidents involve more than 500 data subjects
- The average electronic breach involves more than four jurisdictions
- Organizations notify “on time” 74% of the time in jurisdictions that specify a timeline
In today’s world of increasingly complex and changing privacy regulations, RadarFirst offers innovative software solutions to data privacy challenges. With Radar, the patented SaaS-based incident response management platform, organizations make consistent, defensible breach notification decisions in half the time. The Radar Breach Guidance Engine™ profiles and scores data privacy incidents and generates incident-specific notification recommendations to help ensure compliance with data breach laws as well as contractual notification obligations. Privacy leaders around the globe rely on RadarFirst for an efficient, consistent, and defensible solution for privacy incident response. Learn more at radarfirst.com.
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