Discover insights from Rubrik Zero Labs’ report on global data security trends, revealing escalating challenges and the urgent need for proactive strategies in safeguarding sensitive information.
As renowned brands grapple with the ramifications of cyberattacks targeting their business data, a recent cyber study by Rubrik, the Zero Trust Data Security™ Company, unveils concerning trends. According to their report, 62% of surveyed organizations in Singapore experienced a loss of sensitive data within the past year, positioning Singapore as second only to India in the global ranking of organizations facing such data loss incidents.
Titled “The State of Data Security: The Journey to Secure an Uncertain Future,” the new research report from Rubrik Zero Labs sheds light on the pervasive challenge of cyber risks and the struggle to safeguard data across an organization’s expanding digital landscape. Surveying over 120 local organizations, the report underscores how advancements in technologies like artificial intelligence and cloud computing have exponentially increased cybersecurity threats, taking advantage of the exponential surge in global data.
Key Findings Highlighted:
- Data Expansion: Organizational data has surged by 42% in the past 18 months, primarily propelled by SaaS (145%), followed by cloud (73%) and on-premises storage (20%).
- Data Volume: On average, organizations manage 240 backend terabytes (BETB) of data, with some protected organizations reporting over a petabyte of backend data.
- Projected Growth: Rubrik Zero Labs anticipates a near doubling of the data volume organizations need to secure within the next year, with a staggering 7x increase in the subsequent five years.
Challenges Faced by Organizations in Singapore:
- Data Storage: 43% of surveyed organizations store sensitive data across multiple environments, while only 7% maintain a dedicated storage location for sensitive data.
- Data Breaches: 62% of organizations faced significant losses of sensitive information in the past year, with 23% experiencing multiple breaches.
- Compromised Data Types: The most commonly compromised data types included corporate financial data (40%), payment card data (35%), authentication credentials, and intellectual property (34%).
Pressing Needs and Concerns:
- Data Security Lag: 86% of IT and security leaders feel their organizations struggle to keep pace with data growth concerning security measures and risk management.
- Visibility Challenges: Almost all external organizations (98%) perceive significant difficulties in attaining comprehensive data visibility.
- Policy Adherence: 70% suspect internal breaches of data policies, while less than half (47%) have a dedicated senior executive overseeing data security.
Abhilash Purushothaman, Vice President and General Manager, Asia, Rubrik, emphasized the burgeoning data influx across Southeast Asia due to AI proliferation and connected devices. He highlighted the enduring importance of cybersecurity fundamentals amidst transformative shifts. Purushothaman stressed the imperative for cyber resilience strategies beyond conventional backup tools to combat modern attack vectors.
He advocated for democratizing cyber resilience through innovative architectural solutions and platforms. Purushothaman emphasized the necessity for organizations to protect data assets and infrastructure while adopting novel approaches like Zero Trust Data Security to ensure business continuity.
Rubrik Zero Labs’ “The State of Data Security” stands as a comprehensive research effort analyzing global cyber threats, providing insights, and advocating best practices to fortify data against escalating cyber risks.
In an era where data proliferation and cyber threats continue to intertwine, the imperative for organizations to fortify their defenses and protect sensitive information has never been more critical. Rubrik Zero Labs’ comprehensive report sheds light on the escalating challenges faced by organizations globally, emphasizing the urgent need for innovative solutions and robust strategies to safeguard data integrity. As technological advancements reshape the threat landscape, the call for proactive cyber resilience measures, such as Zero Trust Data Security, resonates as a pivotal approach in ensuring sustained business continuity amidst evolving cyber threats. This report serves as a guiding beacon, urging organizations to embrace adaptive security frameworks and prioritize data protection in their journey towards a more secure digital future.
For more details on Rubrik Zero Labs’ findings, visit here.