Despite more than a few decades’ worth of technological advancement and millions of dollars’ worth of research, cyber threats continue to flourish. The situation has been wreaking havoc—and creating financial nightmares—in virtually every industry around the world. In fact, the average cost of a data breach has risen 12% over the past 5 years and now costs $3.92 million on average —according to Ponemon. And if your company is like most of the ones I know, you’ve got far better things to do with that kind of money.
At the same time, there are nearly 1,000 cybersecurity technologies on the market today. That should be great news, right? It would be, except for two significant problems: The hardware and software necessary to create a security operations center (SOC) can be costly; and there’s a severe shortage of skilled security analysts to drive those technologies.