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

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Current Budget Versus Trending Cyber Risks

How does an external view of current happenings in your industry help you shape your infosec budget? This has been a missing link in security discussions as organizations traditionally have added new tools to address niche problems, but without truly understanding if they're spending money and resources in the right areas. By plugging a typical IT organization security budget into the API, we can see a disproportionate level of spend at the software vulnerability layer. With Shellshock taking center stage in August and early September, it's immediately clear where strategic, personnel and financial priorities would need to shift to better secure your organization from that cyber risk.

These figures represent a look back at Q3, but you can also trend out across the year, for example, to better plan for the next year. Real-time understanding of the risks your industry is facing will help identify the types of security resources and tools you need. Said simply, know your risks and plan accordingly.

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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