When it comes to the future of cybersecurity, an ounce of prevention is worth far more than a pound of cure. According to the Ponemon Institute and IBM Security’s 2020 Cost of a Data Breach Report, enterprises that designated an incident response (IR) team, developed a cybersecurity incident response plan (CSIRP) and tested their plan using tabletop exercises or simulations, saved an average of $2 million in data breach costs. These savings were compared to companies that didn’t take these preparatory steps.