Last year certainly saw some significant data breach cases, including Target, Neiman Marcus and Michael’s. This year, we continue to see reports of data breaches in the news, and not all of them involve huge retailers. Some companies have communicated effectively with their stakeholders, while others have failed miserably. Moreover, those failures have a cost in revenue, profitability, and reputation.

According to the Identity Theft Resource Center (www.idt911.com), in the United States...