Lessons and market impact from the Target data breach
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Lessons From Target Data Breach
There are several lessons learnt from this case. First, I have learnt that the experience of Target on its data breach continues to jeopardize the confidentiality of stored information and the market value of the firm. Therefore, the company deserves to invest much attention, especially in research. Worry of disclosure of credit card information, private details, and other IDs is often the reason why customers leave companies. After identification of breach, Target Company is compelled to pay court costs, charges and has to get into enhancing its data security. The traders lose assurance in the company and the eventual fall in market value. Many studies have been performed to assess the speculation as further explored in this study (Bayuk, 2010). The primary objective of this document is to evaluate the chance of forecast of a Target data violation and assess its effect on industry value based on the outcomes of recent reports and research of representative cases (Grove, 2010).
Domain
Secondly, with the proliferation of similar incidences in the corporate sector, I have learnt that businesses can embrace various technological strategies to ensure the safety and security of their customer data. While providing a high-level of security to protect the data while also protecting the owner of the data can be challenging, it is worth the cost. This study explores relevant lessons acquired from Target data breach (Peitz & Waldfogel, 2012).
Rationale
The rationale for the proposed study builds upon a reoccurring theme, which is "What lessons can we learn from Target data breach?" Recent studies have clearly brought this to life. The chance of efficient financial evaluation of information violation because of a security occurrence is challenging. In fact, the outcomes from a risk research may be incorrect and not a reflection of reality. The evaluation of possible failures is usually identified by expert projections that are always very subjective. As an alternative way of evaluation, some writers considered the connection between (disclosure of) information violation and the industry value of breached companies. Scientists have analyzed the likelihood of information breaches and their effect on industry value. A necessary condition is the existence of mathematically significant connection between price and the violation. This connection has been shown by outcomes of several studies. In addition, several researchers have recognized the factors affecting importance of the connection (Peitz & Waldfogel, 2012).
Relevance
The growing number of spear phishing attacks, privacy concerns of the individual and the need for solutions that address security and privacy concerns in the corporate world evidences the relevance of this research. The existence of recent research to develop viable data security measures shows the great efforts being adopted in the formulation of succinct security strategies.
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- Bayuk, J. L. (2010). CyberForensics: Understanding information security investigations. New York: Humana Press.
- Grove, R. F. (2010). Web-based application development. Sudbury, Mass: Jones and Bartlett Publishers.
- Peitz, M., & Waldfogel, J. (2012). The Oxford handbook of the digital economy. New York: Oxford University Press.
- Infosecurity 2008 threat analysis: Your one-stop reference containing the most read topics in the infosecurity security library. (2008). Burlington, Mass: Syngress
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