IT Industry Shellshocked in Q3: How to Plan for What's Next

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Industry Risk

In Q3, the overall industry risk score of 68.89 for IT was higher than the industry's average in August and the first half of September, and significantly higher than risk scores for other industries, as indicated by the blue lines for "All Industries" measured by the SurfWatch Analytics API. (All industries include health care, financial services, consumer goods, government, entertainment and industrials.) The 4.36 downward trend indicates the measurement taken on the final day of the quarter, Sept 30, as compared to all of Q3, thereby reflecting the downward trend as compared to happenings in August and early September.

Knowing how much budget and what resources to allocate to cybersecurity is no easy task. How much security is needed? Where can the expenditure be most effective? Where is my best ROI? While this has traditionally been left to security professionals to make the business case, ownership of cybersecurity efforts and risk mitigation is starting to shift to the C-suite as recent high-profile breaches have shown a major impact on customer satisfaction and loyalty, stock price, jobs, and an organization's bottom line finances.

Making the right investments can minimize the cyber risks your organization faces, but this requires looking at the complete picture and not just a few pieces. Often, a key missing piece of the puzzle is an understanding of what cyber events are occurring in your industry. Who's getting hit by whom? What methods are being used to carry out an attack? What's being targeted? What's the impact? And what should you do to limit the cyber risk to your organization?

Armed with this information, you can look at the cyber problems trending in your space and allocate resources accordingly, ultimately giving you a competitive advantage. Take the IT industry, for example. In this slideshow, Jason Polancich, founder, chief architect, SurfWatch Labs, looks at the risks prevalent in Q3 and how a typical budget stacks up.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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