The analysis from BBW also claims that the data - which included details relating to children and vulnerable people in care - was lost in a variety of situations.
The report notes that at least 244 laptops and portable computers, 98 USB sticks and 93 mobile devices contributed to the data loss.
Revealingly, just 55 incidents of the 132 were reported to the Information Commissioner's Office (ICO) and only nine people lost their jobs as a result, according to the councils which responded, notes the BBC's report on the BBW analysis.
The ICO, adds the newswire, has called for new powers to carry out compulsory audits in the local government sector.
An ICO spokesman told the BBC: "It's vital that local authorities properly live up to their legal responsibility to keep personal data secure, particularly where it is sensitive information about children and young people.
"Our concern isn't just that councils have the right policies and procedures in place; it's about bringing about a culture among staff whereby everyone takes their responsibilities seriously and effective data handling becomes second nature."
"We're calling for powers to conduct compulsory audits in the local government sector and will this week submit a formal business case to the Ministry of Justice asking the government to give us such powers."
Commenting on the BBW analysis, Terry Greer-King, managing director of Check Point, said that the volume of losses reflects the lack of use of data encryption on laptops, USB sticks and other removable storage media amongst UK companies.
"We've surveyed the use of data encryption in UK public and private sector organisations every year since 2007, and encryption deployments have been consistently under 50% until now. Yet even in 2011, only 52% of respondents were using encryption to protect data on their laptops", he said.
"What's more, 13% reported a breach from lost or stolen laptops, and a further 7% lost unencrypted USB sticks. With only half of firms actively protecting their devices and data, breaches will inevitably continue for some time yet", he added.
Richard Turner, CEO of Clearswift, meanwhile, said that the BBW analysis makes for concerning reading, but added that the fact is that in today's business environments - where an ever increasing range of communication channels are in use - organizations must realise that in conjunction with security technology, their staff can be a powerful tool in safeguarding information and data.
"For data security policies to be truly effective, staff need to understand what security parameters are in place, and more importantly, why they are there", he explained.
"Research that Clearswift has conducted on this topic showed that although almost three quarters (74%) of office workers surveyed feel confident that they understand policies, but this confidence seems ill-placed given that a third of those surveyed have not received any training on IT security since first joining their firm", he said.
"[It's] perhaps not surprisingly then to learn that almost one in seven people fear they may currently be breaching corporate policy, albeit inadvertently", he added.