Businesses Spending on Security to Top $37 Billion in 2016
Social engineering that targets human frailties will continue to put business systems at risk, an Ovum report notes.Organizations will spend more than $37 billion on IT security in 2016, according to findings in IT analyst firm Ovum's Security 2016 Trends to Watch report. Improving the usefulness of security analytics and threat intelligence is vital, the report noted, adding that keeping business data safe calls for new and innovative technology and that cyber-security controls must improve to deal with next-generation business systems. "A major challenge that most organizations face starts with the need to better understand where their sensitive data is held. The newer elements of technology, including cloud and mobile, add to the problem and also muddy the waters by providing opportunities to use unsanctioned technology to store data away from corporate servers," Andy Kellett, principal analyst of IT security at Ovum, told eWEEK. "The focus on keeping business data and users safe is a key issue." More needs to be done to control what users are allowed to do. There needs to be better access control and step-up authentication and then better monitoring and reporting of usage once access has been granted, Kellett said.
He said a lot of focus is now on security intelligence and analytics, and noted that perhaps more practically, many organizations should focus more on the use of detection and remediation tools that can spot malware more effectively and reduce recovery timelines after a breach has occurred.