Study commissioned from Sapio Research heard more than 2700 executives in 25 countries
Research commissioned by Trend Micro, the world leader in cybersecurity solutions, from Sapio Research reveals that many business leaders do not see the link between digital security and data insight, while recognizing that effective security can accelerate digitalization.
For Jon Clay, Vice President of Threat Intelligence at Trend Micro, “Data-driven insights are increasingly critical to sustainable business growth. But unless that data is properly protected, such initiatives will be built on sand. It's time for business leaders to recognize the importance of security to growth plans and for CISOs to make a more compelling case.”
Trend Micro's interviews with global business decision makers showed that in the face of an uncertain macroeconomic and geopolitical landscape, 61% of organizations agree that there is an urgent need to diversify revenue streams. They also revealed that 68% believe that access to data will be fundamental to unlock these new sources of income. For the vast majority (91%), better data usage is also an alternative to lower costs.
Data analytics and predictive tools can ensure greater business agility by helping organizations anticipate market trends, execute financial forecasting scenarios, and much more. However, more than a third of business leaders ears declared not to understand the connection between cybersecurity and data insights. Furthermore: 48% do not link security with generating new revenue streams and 55% do not see the potential for cost savings.
Also worrisome is the fact that more than half of respondents said their company's current security policies and processes create information silos. This can actively undermine data insights projects and reinforces the need for more cohesive and platform-based approaches to security.
While some business leaders are still not convinced, nearly two-thirds believe security policy can increase scanning speed.
The survey also revealed evidence of maturing security posture. Almost three bedrooms of IT decision makers interviewed said the organization tracks and reports cyber risk levels, with a third reporting this to senior management as a measure of business risk. Others 79% have assured that their company has a Cyber Improvement Program to help achieve digital transformation goals.
To read a full copy of the report “Risk and reward: bridging the dots between security and data-driven insights for sustainable growth”, click ON HERE.
