89 percent of organizations expect to increase data security budgets
A new report from Normalyze shows that 89 percent of organizations expect to see a significant or moderate increase in data security budgets over the next 12 months, driven by the escalating threat landscape and stringent regulatory requirements like GDPR and HIPAA.
The report, based on research by Omdia, finds top security priorities include reducing the opportunity for threats to infiltrate data stores (59 percent), improving data security posture (53 percent), and demonstrating ROI through improved reporting and business communication (42 percent).
Use of Data Security Posture Management (DSPM) is rising, particularly among larger organizations, with 72 percent of companies with 10,000+ employees confident in DSPM’s capabilities.
In addition 67 percent of organizations express confidence in DSPM's ability to provide suitable data protection. While 76 percent of respondents who have already deployed a DSPM solution agree that it provides visibility and security in data-heavy environments, essential for preventing data breaches and ensuring regulatory compliance.
"Organizations must prioritize data classification and governance to stay ahead of evolving threats and regulatory demands," says Adam Strange, principal analyst at Omdia. "This research makes it clear that organizations are still struggling with data security and DSPM appears to be the next stop on many roadmaps."
The most common challenges in DSPM implementation include making new hires or lacking internal resources (61 percent), vendor/tool selection (51 percent), and obtaining executive buy-in (38 percent).
"DSPM is a strategic enabler for a wide range of use cases, including AI initiatives, data migration projects, and data hygiene efforts. Data context and security must be the first step in these endeavors -- without it, these projects are destined to fail," says Amer Deeba, CEO and co-founder of Normalyze. "The economic value becomes clear when considering how many of these projects fail due to a lack of classified data, which stems from insufficient understanding and alignment among leadership to secure the necessary budget and resources from the outset."
There'll be a webinar to discuss on Wednesday, August 28th at 9:00am PT.
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