Much of the Cybersecurity Budget Is Wasted
According to a recent study, 73.48% of organizations believe that the majority of their cybersecurity budget is wasted due to a failure to mitigate threats despite the abundance of security tools at their disposal.
Let me remind you that we also wrote about such a trend as: Companies significantly improved cyberthreat detection time.
A survey conducted by Gurucul among 180 participants at the RSA 2022 conference was about their opinion on the effectiveness of security operations in their organizations.
Only 25% of organizations believe that their main threat comes from within the business.
And this despite the growth of internal threats by 47% over the past two years. According to 70%, the biggest cybersecurity problems come from external threats such as ransomware.
The study also showed:
- 33% of respondents are able to detect threats within hours, and 27.07% of respondents can find them in real time.
- 33.15% reported that their organization still takes days, even weeks, to detect threats, while 6% cannot find them at all.
According to the survey, 33.15% spent hundreds of thousands of dollars on threats and 15.47% spent millions of dollars, demonstrating the extent to which organizations are willing to go to protect against intruders. In addition, the results of the study indicate the potential inefficiency of most of the chosen solutions; according to 41.99%, approximately 50-100% of the company’s budget is wasted.