Organizations are allocating significant portions of their budget on information security products and services to ensure that every possible cyber surface is free from attack. However, a new study from 451 Research brings into question the efficacy of available solutions to adequately keep up with modern threats.
The study found that there is minimal confidence in the efficacy of endpoint security tools. Without ever having experienced an attack, as much as 82% of respondents did not think that their security solution would be up to the task of effectively interrupting an attack. Confidence plummets even further among respondents who had already experienced an attack, where a whopping 95% expect that their endpoint security solution would fail to adequately protect them.
Industry confidence was not much better in relation to network security tools. With no prior experience of a ransomware attack, 89% of respondents did not consider their network security solution to be effective, this rises to 92% of those who had experienced an attack.
These statistics are indicative of the industry perception that available security solutions are just not adequate in mitigating all forms of cyber threats. Despite the cost in implementing a solution, organizations expect to incur even further costs when an attack occurs. Among respondents that had no experience of addressing a ransomware attack, 56% anticipate having to re-image a machine and restore from a backup, this number climbs to 68% for those who have had previous experience.
Fortunately, the situation is not entirely lost. The report concludes that while detection and response technology may not be up to the task of combating complex modern threats, there are ample opportunities for companies to reconsider and explore improvements in cyber prevention technology.