A 76% majority of corporations cite Security and Data Breaches as the top cause of server, operating system, application and network downtime, according to ITIC’s latest 2022 Global Server Hardware Security survey which polled 1,300 businesses worldwide.
Security is a technology and business issue that impacts all enterprises. Some 76% of respondents cited security and data breaches as the greatest threat to server, application, data center, network edge and cloud ecosystem stability and reliability (See Exhibit 1). This is a three-fold increase from the 22% of ITIC corporate survey respondents who said security negatively impacted server and network uptime reliability in 2012. The hacks are more targeted, pervasive and pernicious. They are also more expensive and designed to inflict maximum damage and losses on their enterprise and consumer victims.
Security has a major impact on businesses of all sizes and across all vertical markets. In 2022 nine-in-10 companies estimate that server hardware and server OS security have a significant impact on overall network reliability and daily transactions (See Exhibit 2).
Mean Time to Detection is a Critical Barometer
Security hacks and data breaches are a fact of doing business in the digital age. It’s BIG business for hackers and cyber criminals. At some point, every organization and its critical main line of business servers, server operating systems and applications will be the victims of an attempted or successful data breach of some type.
Data Breaches and Downtime Costs Soar
In 2021 the average cost of a successful data breach increased to $4.24 million (USD); this is a 10% increase from $3.86 million in 2020, according to the 2021 Cost of a Data Breach Study, jointly conducted by IBM and the Ponemon Institute. The $4.24 million average cost of a single data breach is the highest number in the 17 years since IBM and Pokemon began conducting the survey. It represents an increase of 10% in the last 12 months and 20% over the last two years.
The FBI’s 2021 Internet Crime Report, released in March 2022, found that Internet cyber crimes cost Americans $6.9 billion last year. This is more than triple the $2 billion in losses reported in 2020. According to the FBI, it received 847,376 complaints of suspected internet crime; this is a seven percent (7%) compared to 2020.
The FBI 2021 Internet Crime Report said the top three cyber crimes reported by victims in 2021 were: “phishing scams, non-payment/non-delivery scams, and personal data breach. Victims lost the most money to business email compromise scams, investment fraud, and romance and confidence schemes.”
ITIC’s 2022 Global Server Hardware Security survey findings underscore the expensive nature of cyber crime. ITIC’s latest research shows the Hourly Cost of Downtime now exceeds $300,000 for 91% of SME and large enterprises. Overall, 44% of mid-sized and large enterprise survey respondents reported that a single hour of downtime, can potentially cost their businesses over one million ($1 million).
Organizations must rely on strong embedded server and infrastructure security that recognizes the danger, sends alerts and alarms and that possess the ability to isolate the threats. Strong preparedness on the part of the corporation and having a well trained staff of security professionals and IT administrators are of paramount importance.
The more quickly the company’s servers and software can detect a security issue and respond to it, the greater the chances of isolating and thwarting the attack before it can infiltrate the network ecosystem, interrupt data transactions and daily operations and access sensitive data and IP.
Robust security is comprised of two things: solid security products AND strong security policies and procedures administered and monitored by proactive and trained security professionals.