Over Fifty Percent Businesses Feel Security Element is Missing in Their Data Policy
These days, the average business generates an unprecedented amount of data, and this amount is only expected to increase.
According to a new report from Rubrik Zero Labs, this makes data security – an absolute must for any successful business – a Herculean task that will only become more difficult.
The company discovered that a typical organisation’s data has grown by nearly half (42%) in the last 18 months. Overall, data from SaaS grew the most (145%), followed by cloud (73%), and on-premises endpoints (20%). A typical organisation has 240 backend terabytes (BETB) of data volume, which Rubrik expects to increase by 100 BETB in the next year and by 7x in the next five years.
Outpacing security practises
A significant portion of this data is classified. Global organisations have an average of 24.8 million sensitive data records, with 61% storing them in multiple locations (cloud, on-premises, and SaaS). Only 4% have secure data storage facilities.
Over fifty percent (53%) lost sensitive information in the last year, with 16% experiencing multiple data loss incidents in the previous year. The majority of the time, organisations would lose personally identifiable information (38%), company financial information (37%), and authentication credentials (32%).
Worryingly, two-thirds of respondents (66%) said their company’s data is increasing faster than their ability to control it. Almost every company (98%) have visibility issues, and two-thirds (62%) have difficulty complying with laws and regulations. More than half (54%) have only one senior executive responsible for data security.
According to the report, there is a notable disparity between the perceptions of IT leaders in India and security. Of them, 49% believe that their organization’s data policy lacks security, and 30% believe that their organisation faces a significant risk of losing sensitive data in the next 12 months.
As per the report, 34% of Indian IT leaders believe that their organization’s data is at greater risk from malicious hackers, and 54% of them admit that their capacity to handle data security risks has not kept up with the increasing amount of data.
Rubrik commissioned the study, which was carried out by Wakefield Research among more than 1,600 IT and security decision-makers at firms with 500 or more employees. Half of those polled were CIOs and CISOs, while the other half were Vice Presidents and directors of IT and security. According to the statement, the survey supplemented Rubrik telemetry by examining more than 5,000 clients from 22 industries and 67 countries.
The report, according to Abhilash Purushothaman, Vice-President & General Manager, Rubrik (Asia), serves as a wake-up call for Indian IT leaders. It highlights the greater risks for private data, particularly in the face of rapidly changing, sophisticated ransomware attacks, he added.