Today, every leading technology company talks about cyber-security. But how many of them are creating and implementing regulations and infrastructure to strengthen their cyber-security? Cybersecurity expertise and execution are not evenly distributed that leaves critical data assets vulnerable. Modern day organizations share and exchange a huge amount of data without any security implementation.
A “2018 State of critical Data protection report” is based on the survey of more than 318 executives and professionals across the US, Canada, and the UK. According to the data collected during in the survey, around 75 percent of the board of directors consider C-level executive to be responsible for critical data security. The biggest reason why most organizations are dealing with uncertain cybersecurity is not finding the individuals with the right kind of expertise to deal with enterprise-level challenges.
The report also analyzes, organizations have policies in place to share the data also for protecting the data but little confidence in the effectiveness of the regulation.
Organizations heavily spend on the cyber-security. It’s estimated that all IT teams around the world spend at least $100 billion on cybersecurity. Most of the organizations don’t get the required ROI from the spending and that results into hampered growth prospects.
Intellectual property and data elements that provide organizations with competitive data advantage are overlooked while identifying the data assets. Only one-third of the companies have defined their critical data based on intellectual property and competitive advantage.