With half of the year already behind us, many companies who purchased technologies in Q1 have been able to evaluate the return on those spends as well as better understand where business pains still lie. Right now, there is time for companies to purchase products and services that can still impact their 2017 numbers.
As we did in Q1, RainKing wanted a better understanding of the tech landscape in Q2 2017: where companies and organizations are feeling pain and where technology budget dollars are being spent. So, our Research Department conducted multiple technology category-themed surveys in Marketing, Business Intelligence, Enterprise Applications, Network, Storage, and Security. We asked business professionals who work in these sectors at companies spanning all different industries, sizes, and revenue bands, to indicate the pains they experienced as well as any new spending (as opposed to maintenance or recurring spending) made throughout April, May, and June of this year.
In our full report we have graphed all of the results and compared them to results from the same survey conducted a year ago in Q2 2016. We then shed a little light on the top five most commons responses for pain and spending within each category with help from our CTO, Dennis Arndt.
Q2 2017 Security Trends
Top 5 Security Pains
- Getting Actionable Intel from Large Volumes of Alerts (-13% YoY) — Finding a breach as soon as possible in order to mitigate the damages is incredibly important. So when there is a high volume of security alerts to comb through, it slows down the company’s reaction-time to actual threats to sensitive data.
- Threat Visibility into Network, Security Devices, and Data (-6% YoY) — Many of the recent breaches have come because users have opened a phishing email or clicked on a link allowing malware to infiltrate the company’s network. Threats are everywhere and it’s incredibly hard for companies to identify and shut down all of the security threats across networks, mobile devices, data, and other channels like social networks. Threats exist anywhere your data or your people are located.
- No In-House Talent to Manage Complex Security Environments (+1% YoY) — Security environments are becoming increasingly more complex as hackers hone in on their skills and adapt to changing security defenses. Security teams need to manage complex cyber security environments and the talent available just doesn’t have the skills needed. It’s incredibly hard to find experienced professionals that are highly technical and capable of managing these environments.
- Storage/Transfer of Sensitive Data in the Public Cloud (+4% YoY) — The cloud has not yet won over all businesses. There is still concern about transferring and storing critical data in the public cloud. The public cloud is a very attractive space for hackers. Companies must make sure that their data is secure and protected before they transfer it.
- Securing/Managing/Monitoring Third-Party App Usage (+2% YoY) — Securing, managing, and monitoring third-party application usage is a pain for many companies whose employees connect their personal devices to the business’ network—many without the approval of IT. Third-party apps have the ability to view, delete, transfer, and store corporate data, and even act on behalf of users.
Top 5 Security Spends
- Cloud-Based Security Solutions (+8% YoY) — These days, the name of the game is cybersecurity. As more and more businesses move their sensitive and critical data to the cloud, they must make sure it is safe and secure with Cloud-Based Security Solutions.
- Data Loss Prevention/Protection (+3% YoY) — Data Loss Prevention/Protection is important to make sure that users do not send or transfer sensitive data outside the network. It helps network admins control what users can transfer in the cloud, on-site, and via mobile across the network.
- Threat/Vulnerability Management (+7% YoY) — Threat and Vulnerability Management helps businesses become more proactive when it comes to security, as opposed to reactive, by defining and implementing a program that identifies current vulnerabilities and likely threats that could impact the organization.
- Next-Generation Firewalls (+1% YoY) — Next-Generation Firewalls protect networks and OS with firewall, intrusion prevention and application control. It provides an additional layer of protection and security against data breaches and hacks.
- Multi-Factor Authentication (+3% YoY) — Multi-Factor Authentication is yet another layer of security for businesses. It makes hacking harder since multiple pieces of information must be presented in order to authenticate the user.
- Additional Info to Note — More businesses are spending budget dollars on all top 5 security solutions than in Q2 2016.
RainKing will continue to follow technology pain and spending throughout the year, so be sure to check back after Q3 for new trends and insights.
Data and analysis by RainKing Analytics