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Volume 32, Issue 3

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Monday, 14 January 2013 02:48

A Six Sigma Look at Confidential Data Loss


Companies that manage personal and confidential information can suffer damage to reputation, market brand, and revenues if security is breached or inadvertent loss occurs. However, a company can combat a potential marketing disaster with an appropriate measurement and response mechanism in place. What’s the Problem? Breaches of consumer’s private information happen each year in the United States. In the fall of 2012, the state of South Carolina notified its citizens that its data bank had been hacked, compromising 3.6 million social security numbers and nearly 400,000 credit card numbers. The Privacy Rights Clearinghouse (PRC) has catalogued similar incidents, and a quick look reveals that corporate data loss is prevalent. The PRC reported on 535 breaches in 2011 that alone resulted in the loss of 30.4 million sensitive records, but it was noted that the number was conservative since many data breaches remain undiscovered or unreported. According to its ninth annual IT Security