In today’s digital world there are an ever increasing number of cyber-attacks, in fact it is predicted that by 2021 the annual damage from cyber-attacks will reach $6 trillion (Source: Information-Management.com). With these shocking statistics it is no wonder that spend on information security will also increase. With this in mind we wanted to consider what the key data security trends in 2018 were, here are are our top 4 predictions:
1. Introduction of GDPR is only the beginning:
Without question this has to be the biggest thing which is going to happen in the industry on 25th May 2018. With the introduction of this regulation there will be greater emphasis on data classification and requirement for companies to protect personal information they hold both about their employees and their customers. Knowing what sensitive information you have as a business and how to protect it will become part of every organisations’ data management practices. The fear of fines will lead to an increase in better information protection, processes and technologies.
2. Digital Transformation to Cloud Services:
As more businesses look for increased efficiency with information management, there will be a continued move to use cloud services and cloud applications. Therefore a reduction in traditional security areas such as perimeter and network security, result in consolidation of the traditional security vendor mix. With these changes we will also see increased activity with cloud security measures, such as classification, encryption and rights management. For instance, the acquisition of Skyhigh Networks by McAfee.
3. Shortage of Security Skills:
Many organisations cite the skills availability in security as a major issue impacting improved protection. The reliance on vendors and partners to support clients will increase generating an increase in resources, ensuring security partners provide a comprehensive and consistent protection service will also be a challenge.
4. Data Security Budgets must increase:
There have been countless information breaches in 2016 and 2017, including Yahoo, NHS to most recently Islington Council at the end of 2017. All organisations, regardless of size are at risk. With these higher risks becoming ever greater, requires companies to prioritise information security from the board and executive level downwards.
If you need help in preparing for GDPR or identifying your data security risk, please get in touch to arrange your FREE 60-minute consultation.