Aug 1, 2014
Suffering downtime on core business IT systems is the primary driver for increased investment in cyber security measures, according to a new report.
The Ponemon Institute's 'Roadblocks, Refresh and Raising the Human Security IQ' study polled a number of industry experts regarding the state of global IT security measures.
The results showed advanced persistent threats are considered the most dangerous obstacle to system performance, with 40 per cent of respondents claiming this is their largest concern.
Data exfiltration is the main worry for 24 per cent, while websites being hacked and DDoS attacks were highlighted by 14 and 12 per cent of organizations respectively.
It is the risk of system downtime and the resulting loss of revenues from these threats that spurs many businesses to invest more in IT protection, the report noted. Nearly half (49 per cent) of professionals said a serious outage would encourage increased attention towards cyber security technology and procedures.
Figures from Dun & Bradstreet show that Fortune 500 companies suffer at least 1.6 hours of downtime across software, hardware and databases each week. This accumulates to over 80 hours a year.
These outages can have a drastic effect on customer retention, revenues and brand perception, which is why many organizations are investing more time and resources in disaster recovery (DR) options.
For example, standby databases offer DR capabilities that can have crucial business processes up and running again in a matter of minutes.
However, the Ponemon Institute identified a lack of funding in many organizations when it came to preventative measures.
In fact, only 38 per cent of companies believe enough funding is provided for technologies and skilled personnel to tackle cyber security threats.
Nevertheless, there are encouraging signs for the future, with 49 per cent of firms looking to boost IT security investments over the next 12 months.