On July 26, Facebook faced the biggest one-day drop in value in the history of the stock market.  The social media firm’s 19 percent drop in stock followed announcements that it saw significant user decline due to data privacy issues, and that it expects revenue to slow down.

In our most recent Cyber Talk survey, we asked readers to provide views on how the Facebook/Cambridge Analytica scandal and GDPR impacted their organizations. Below are the results, based on the responses of 342 participants.

  • 48% of respondents mentioned that their data security effectiveness is average or sub-average
  • More than half (51%) said the Facebook–Cambridge Analytica data incident was alarming
  • 62% mentioned that the Facebook–Cambridge Analytica case changed the way they manage customers’ data in the organization
  • 74% of respondents indicated that GDPR had either a medium or major effect on their business.
  • 70% think that companies that produce IoT products, wearable technology, and related apps should alter their product or market strategy due to data privacy concerns

A big thanks to all who participated. Please share your views by participating in our new survey on cyberattack readiness within organizations. All responses are kept anonymous.

Take the survey now by visiting //www.research.net/r/cybertalksep2018.