Eighty-six percent of small businesses do not have effective means to mitigate cyber risks. For most, the only precaution in place is antivirus software, despite the fact that 43 percent of cyberattacks target small businesses.
According to Symantec, 35 percent of users have at least one unprotected device—and that figure is expected to increase as more devices are connected to the network with the rapid growth of the internet of things (IoT).
Choosing between endpoint security and antivirus software for protection depends on many factors: the size of your network, the presence of remote workers, business policies such as BYOD (bring your own device), the need for centralized security controls, and the security features you require.
Small businesses that make the wrong choice of security investment—endpoint security versus antivirus software—are leaving themselves open to multiple security risks or will end up wasting a good part of their security budget, or both.
Predictions have always piqued our interest. Maybe that’s because predictions are so hard to make and even harder to get right.
But, making the right market predictions will save your business tons of money and will deliver superior results.
We all know that “oh no” moment when the document you painstakingly perfected for hours—but forgot to save—is suddenly gone because of a power outage. It’s very, very frustrating.
Now, imagine that instead of one document, it’s all your business’s data. You’ve just gone from frustration to complete devastation.
Losing data and not being able to get it back can be disastrous, for individuals as well as for businesses big and small.
- Thirty-five percent of companies lose data and access to at least one business-critical app after a natural or man-made disruption.
- Forty-two percent of ransomware victims are not fully able to recover their data.
- Forty percent of small businesses are forced to close as a result of a disaster.
Yet, despite those statistics, 58 percent of small businesses are not prepared for data loss.
Small businesses use expensive security cameras and intruder alarms to protect their office assets, but they often overlook protection of their IT networks. That’s because IT managers presume—incorrectly—that anti-virus software is enough.
Symantec notes that hackers are no longer solely reliant on traditional attack tools such as malware. They’re increasingly using operating-system features and cloud services to compromise networks.
Small businesses that do not install additional safeguards such as network monitoring tools to protect their IT environment perimeters will lose revenue and customer trust as a result of inevitable network downtime.
Data analytics is no longer carried out by data scientists alone. Every employee—from salespeople in the field to your HR manager—needs to understand and participate in data-driven decision-making.
Collaborative analytics is the key to shared data insights. This includes the components within the data analytics process that help analysts and other team members work together to achieve shared goals. These elements include:
- Data sharing
- Collective analysis
- Joint decision-making
Despite potential benefits, such as increased revenue and speedier decision-making, 41 percent of organizations lack the collaboration needed between analytics and business teams.
What is stopping businesses such as yours from collaborating on data? One issue is that the different teams within your organization don’t even know what resources other teams have and may be unaware of shared goals.