PwC survey reveals turnaround and transformation in cybersecurity
Toronto, ON (July 21, 2016) – As threats continue to mount, understanding and managing cybersecurity risks have become top of mind for leaders in business and government. Organisations are responding by taking action. Increasingly, they are adopting innovative technologies like cloud-enabled cybersecurity, Big Data analytics and advanced authentication to reduce cyber-risks and improve cybersecurity programmes.
Businesses are also embracing a more collaborative approach to cybersecurity, one in which intelligence on threats and response techniques is shared with external partners. Internally, organisations are rethinking the roles of key executives and the Board of Directors to help create more resilient and proactive security capabilities.
Another notable measure of progress is a renewed willingness to invest in security. This year, survey respondents reported they have significantly boosted information security spending to better enable them to tackle the cybersecurity juggernaut head on. Read on for details on how innovative organisations are addressing this challenge.
- 91% follow a risk-based cybersecurity framework;
- 69% use cloud-based cybersecurity services;
- 59% leverage Big Data to improve cybersecurity;
- 65% collaborate with others to improve cybersecurity;
- 54% have a CISO in charge of the information security program.
“Data can be an extremely underutilized tool, and a company’s capability to access the right data, at the right time, and then look at it through the right lens, can make or break a bottom line,” said Dan DiFilippo, PwC’s Global and US Data and Analytics Leader. “Leaders are stuck at a crossroads, with 28% of decision-makers polled stating that they’re just trying to survive in a state of disruption. This survey demonstrates the often unrealized value of data to lower the inherent risk in decision-making, and sheds light on how companies can reassess the data they have to become stronger and increasingly competitive.”
PwC’s newest survey encourages companies to ask the right questions that will lead to data solutions. Companies need to not just collect big data, but question their sphere of discovery, understand how to find the questions worth asking (before looking for the answers in the data), build an awareness of who is responsible for making decisions and taking action and really think about how to track outcomes to determine if the best approach is being taken.
- Download the main report.
- Download an industry summary for financial services.
- PwC has published a summary of the key themes.
- An infographic follows below.
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