A study conducted by Ponemon Institute and sponsored by IBM Resilient found that 77 percent of respondents admit they do not have a formal cyber security incident response plan (CSIRP) applied consistently across their organization.
Nearly half of the respondents reported that their incident response plan is either informal/ad hoc or completely non-existent.
Despite this lack of formal planning, 72 percent of organizations report feeling more Cyber Resilient today than they were last year. Highly resilient organizations (61 percent) attribute their confidence to their ability to hire skilled personnel — but organizations need both technology and people to be Cyber Resilient. In fact, 60 percent of respondents consider a lack of investment in AI and machine learning as the biggest barrier to Cyber Resilience.
This confidence may be misplaced, with the analysis revealing that 57 percent of respondents said the time to resolve an incident has increased, while 65 percent reported the severity of the attacks has increased. These areas represent some of the key factors impacting overall cyber resiliency. These problems are further compounded by just 31 percent of those surveyed having an adequate Cyber Resilience budget in place and difficulty retaining and hiring IT Security professionals (77 percent).
“Organizations may be feeling more Cyber Resilient today, and the biggest reason why was hiring skilled personnel,” said Ted Julian, VP of Product Management and Co-Founder, IBM Resilient. “Having the right staff in place is critical but arming them with the most modern tools to augment their work is equally as important. A response plan that orchestrates human intelligence with machine intelligence is the only way security teams are going to get ahead of the threat and improve overall Cyber Resilience.”
The lack of a consistent CSIRP is a persistent trend each year despite a key finding from IBM’s 2017 Cost of a Data Breach Study. The cost of a data breach was nearly $1 million lower on average when organizations were able to contain the breach in less than thirty days — highlighting the value and importance of having a strong CSIRP.
“A sharp focus in a few crucial areas can make a big difference when it comes to Cyber Resilience,” said Dr. Larry Ponemon. “Ensuring the security function is equipped with a proper incident response plan, staffing, and budget will lead to a stronger security posture and better overall Cyber Resilience.”
About the Study: Conducted by the Ponemon Institute and sponsored by IBM Resilient, The 2018 Cyber Resilient Organization is the third annual benchmark study on Cyber Resilience — an organization’s ability to maintain its core purpose and integrity in the face of cyberattacks. The global survey features insight from more than 2,800 security and IT professionals from around the world, including the United States, United Kingdom, France, Germany, Brazil, Asia-Pacific, Middle East, and Australia.
The Latest
Navigating observability pricing models can be compared to solving a perplexing puzzle which includes financial variables and contractual intricacies. Predicting all potential costs in advance becomes an elusive endeavor, exemplified by a recent eye-popping $65 million observability bill ...
Generative AI may be a great tool for the enterprise to help drive further innovation and meaningful work, but it also runs the risk of generating massive amounts of spam that will counteract its intended benefits. From increased AI spam bots to data maintenance due to large volumes of outputs, enterprise AI applications can create a cascade of issues that end up detracting from productivity gains ...
A long-running study of DevOps practices ... suggests that any historical gains in MTTR reduction have now plateaued. For years now, the time it takes to restore services has stayed about the same: less than a day for high performers but up to a week for middle-tier teams and up to a month for laggards. The fact that progress is flat despite big investments in people, tools and automation is a cause for concern ...
Companies implementing observability benefit from increased operational efficiency, faster innovation, and better business outcomes overall, according to 2023 IT Trends Report: Lessons From Observability Leaders, a report from SolarWinds ...
IT leaders are driving an increasing number of automation initiatives as a way to stay competitive, reduce costs and scale as they navigate an unpredictable social and economic environment, according to the 2023 State of Automation in IT survey conducted by Jitterbit ...
Customer loyalty is changing as retailers get increasingly competitive. More than 75% of consumers say they would end business with a company after a single bad customer experience. This means that just one price discrepancy, inventory mishap or checkout issue in a physical or digital store, could have customers running out to the next store that can provide them with better service. Retailers must be able to predict business outages in advance, and act proactively before an incident occurs, impacting customer experience ...
Earlier this year, New Relic conducted a study on observability ... The 2023 Observability Forecast reveals observability's impact on the lives of technical professionals and businesses' bottom lines. Here are 10 key takeaways from the forecast ...
Only 33% of executives are "very confident" in their ability to operate in a public cloud environment, according to the 2023 State of CloudOps report from NetApp. This represents an increase from 2022 when only 21% reported feeling very confident ...
