While many companies have listened to widespread advice about increasing cybersecurity budgets, they still aren’t sure about where they need to be allocating those dollars.
That’s one of the takeaways from a new report released by Thales e-security on Jan. 26, 2017.
Even though overall spending is up (73 percent of organizations surveyed increased their IT security spending in the last year whereas that number was 58 percent in the 2016 report), 30 percent of respondents say their organization is “very vulnerable” or “extremely vulnerable” to attacks on data.
And also worth noting is despite the increased spending, more respondents are reporting they’ve experienced a breach.
“Sixty-eight percent of respondents have experienced a breach with 26 percent experiencing a breach in the last year – both numbers that rose from last year,” according to a press release about the 2017 Thales Data Threat Report.
You can download the report here.
The report polled 1,100 senior IT security execs at large enterprises around the world.
The findings “indicates an ongoing disconnect between the security solutions organizations spend money on and the ability of those solutions to protect sensitive data,” according to the press release.
The study found the two top spending priorities are network (62 percent) and endpoint (56 percent) protection solutions. Meanwhile spending on data-at-rest solutions (46 percent) comes last.
“Organizations keep spending on the same solutions that worked for them in the past but aren’t necessarily the most effective at stopping modern breaches,” according to Garrett Bekker, senior analyst, information security at 451 Research and author of the report. “Data protection tactics need to evolve to match today’s threats. It stands to reason that if security strategies aren’t equally as dynamic in this fast-changing threat environment, the rate of breaches will continue to increase.”
This is the fifth year the report’s been released.
ZDnet.com covered the story here.
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