Roughly half of businesses have experienced a cyberattack in recent years, costing them an average of nearly €3 million per incident.
Splunk surveyed more than 1200 security officials from nearly a dozen countries about their experiences with cybersecurity tools and incidents, finding that 49% had experienced a data breach in the past two years, up 39% from the year before. previous.
Meanwhile, four in five (79%) said they had experienced a ransomware attack on their devices, while a third (35%) said at least one such attack resulted in data loss and a denial of service .
Rising costs of data breaches
The increasingly hostile cyber environment has led companies to invest more in security, but this has a side effect. The report says that 59% of security teams were forced to spend "significant amounts of time and resources" on remediation, up from 42% a year ago. At the same time, almost two-thirds (64%) said it was difficult to keep up with the new requirements.
When it comes to downtime and costs, the average cost of downtime is around €200,000 per hour. An average cyber incident takes 14 hours to repair, bringing the total amount to an average of €2,800,000.
Complicating matters further is the big waiver, the report also found. Many people have decided to change jobs during the pandemic, and with the continuing skills shortage, most organizations have found themselves looking for talent.
Three-quarters (76%) of respondents said their team members were forced into roles they weren't prepared for, while 70% said this new workload made them think about changing jobs.
A similar percentage (73%) said burnout forced them to quit their job.