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Dec 2014 - Insights Presentation - Doc # FI252653

Shift to Predictive: Results of 2014 Cyber-Analytics Survey

Authors: Michael Versace, Greg Girard, Lynne Dunbrack, Christian A. Christiansen
On-line Presentation
Abstract

This IDC Presentation discusses the results of a survey completed in 2014 to establish a base understanding of the impact of cyberthreats on business operations, security strategies, and related investments across the financial services, healthcare, and retail verticals. Approximately 100 respondents per industry responded to IDC Insights' 2014 Cyber Threat Survey, which was fielded in May 2014. Primary conclusions from the survey include:

  • Evolving cyberthreats and the scope of attacks on the financial services, healthcare, and retail industries, coupled with increased regulatory pressures and the need to preserve reputations are the prime motivators for cybersecurity investments leading into 2015. Cybersecurity strategies remain at the top of the agenda as policymakers and board-level executives around the globe remain focused on the impact of customer and business exposure to profitability, productivity, and brand reputation losses.
  • At the center of cybersecurity requirements are protection mechanisms that address an increased sophistication of fraud actors, shrinking response windows, and the complexity of the threats to digital and physical channels.
  • The shift to predictive analytics as a cyberattack defense is in full swing. Advanced predictive threat intelligence solutions and services is a top agenda item for chief risk officers, data officers, executives, and regulators.
  • A majority (40%) of respondents across all three vertical markets detected 10+ cyberattacks over the past 12 months. The highest percentage of respondents reporting successful cyberattacks was from the healthcare industry. A successful attack was defined as an attack that caused harm to the organization's applications, operations, and IT environment or impacted the organization's customers and required some degree of remediation.
  • On the adjacent topic on consumer preference for privacy versus relevancy of digital interactions, consumers lean toward privacy but are more balanced in their needs than previously expected.
Coverage