20% Customer Churn For Data-Compromised Companies
An interesting article on MSNBC this morning by Technology Correspondent Bob Sullivan discusses a recent study conducted by The Ponemon Institute. The study addresses customer behavior with companies that have "lost" customer data. One of the most interesting stats is that the customer churn rate with companies that lose customer data (and subsequently inform the customers of the loss, as required by California law) may be as high as 20%.
In other words, after a data breach is exposed, a company can expect to lose up to 1 in 5 customers to the competition.
Read the MSNBC piece here: http://www.msnbc.msn.com/id/9581522/
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