A new report by Ovum, commissioned by Cyber, shows that nearly a third (31 percent) of security teams depend solely on outdated tools. The report, ‘Business has a crucial need for continuous threat visibility and cyber security management services’, collates insight from more than 6,000 senior business respondents, as well as in-depth interviews with CISOs.
The report says that cyber security spending is increasing at a rate of between 9 percent and 12 percent each year, but despite the rise in investment, the volume of attacks continues to skyrocket, with data breach incidents increasing by 40 percent. The report states that the amount of data lost has grown to unsustainable levels, with 1.9 billion records lost or stolen during the first half of 2017 – more data loss than 2016 as a whole.
Two-thirds (69 percent) of security teams have switching to a more evolved, analytical approach to protection. These include advanced security information and event management (SIEM), next-generation artificial intelligence (AI), machine learning (ML), and network analytics.
For organizations not yet utilizing next generation analytics, over half (57 percent) of teams said they were not ready as the tools would be too difficult to integrate based on the internal skills and resources they draw upon. Half of organizations (50 percent) highlighted false positives as something they could not afford to waste time dealing with.
Read the report (registration required).