Cherif Sleiman at Safe Security explains why why it’s time to take a data-driven approach to quantifying risk
Businesses are investing more in cyber-security than ever before, with total global spending predicted to exceed $1.75 trillion between 2021 and 2025, according to a report by Cybersecurity Ventures.
Despite cyber spending ramping up, the frequency and cost of breaches has also never been higher. The total cost of breaches through to 2025 has been estimated at $10.5 trillion, more than five times the total business investment. As of October, 2021 had already exceeded the total number of breaches across the entirety of 2020.
So why are cyber threats continuing to skyrocket?
Simply throwing money at the problem isn’t enough. All too often, security spending is concentrated on yesterday’s threats, rather than looking ahead or even matching the needs of today. Investments have to be going to the right places and matching the rapidly changing business environment and cyber threat landscape.
Achieving this means moving on from making best guesses based on the rear-view mirror, and looking ahead with a data-driven approach.
