Cyberattacks are on the rise, with nation-state threat actors and foreign hacking collectives joining in, posing a significant risk to organizations. Advanced data solutions that can correlate and analyze connections at a real-world scale are necessary to effectively mitigate cybersecurity risks. The threats include social engineering, ransomware, distributed denial-of-service (DDoS) attacks, and breaches caused by third-party vendors. The tradeoffs between hosting systems on-premise versus cloud involve maximum control but full responsibility, and less visibility of how the systems work in the cloud. Security breaches can have significant impacts, including loss of productivity, reputation damage, fines, and regulatory penalties. Understanding these threats, tradeoffs, and impacts is crucial for organizations to identify a solution that best suits their needs and implement effective cybersecurity policies and strategies.