89% of Companies still Behind In Terms of Data Security: A Report
Globally, around 89 per cent of organizations are not protecting data adequately and 88 per cent of IT leaders expect data security budgets to grow at a higher rate than broader IT spending, as data is more critical to business success. This information has been given in the new report that came out on Tuesday.
According to a Veem Software report, about 67 percent of businesses are turning to cloud-based solutions to protect their data, while the ability to recover data from ransomware attacks is driving business continuity strategies.
Anand Easwaran, CEO of Veem, said data growth has more than doubled over the past two years, due in no small part to how we have embraced remote working and cloud-based services.
As data volumes have exploded, so have the risks associated with data security, with ransomware being a prime example. This research shows that organizations often recognize these challenges and are investing heavily, often falling short of meeting the needs of security users.
The report surveyed more than 3,000 IT decision makers and global enterprises to understand their data protection strategies for the next 12 months and beyond.
For the second year in a row, cyber attacks have been the biggest cause of downtime, with 76 percent of organizations reporting at least one ransomware incident in the past 12 months.
Per the attack, organizations were unable to recover 36 percent of their lost data, proving that data protection strategies are currently failing to help businesses prevent, treat, and recover ransomware attacks.
As cyberattacks become increasingly sophisticated and more difficult to prevent, backup and recovery solutions are an essential foundation of any organization’s modern data security strategy, said Danny Allen, Veeam’s CTO.
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