Approximately a third (31%) of security teams depend solely on outdated tools such as basic search and monitoring for their cyber security needs, according to new research from network threat detection platform Cyber adAPT, and research firm, Ovum.
According to the report, increased spending on cybersecurity tools does not necessarily translate to better protection for organizations. Attack volumes continue to grow, with a 40% increase in data breach incidents, and a loss or theft of 1.9 billion records during the first half of 2017 – more data loss than 2016 as a whole.
“Many CISOs are struggling to persuade their boards to invest in new solutions, having failed to demonstrate the returns delivered by outdated tools – in fact, almost 60% of respondents thought they received poor value from their existing investments,” said Kirsten Bay, President and CEO of Cyber adapt in a prepared statement.
The report, Business Has a Crucial Need for Continuous Threat Visibility and Cybersecurity Management Services, collates insight from more than 6,000 senior business respondents, as well as in-depth interviews with CISOs, according to Cyber adAPT.
“With an evolving threat landscape, CISOs are battling to equip organizations to improve security and data protection,” said Andrew Kellett, Principal Analyst, Infrastructure Solutions at Ovum in a prepared statement.
“The lack of available resources within internal teams creates a vulnerability that technology must address,” he added.