Only 16% of Organizations Recovered All Data Via Attacker Decryption Tools after Paying Ransom

• 93% of organizations reported encountering significant issues with their backup and recovery solutions
• 9 out of 10 organizations reported malicious actors attempted to access backups during a cyberattack, and 73% were partially successful
• Almost half (47%) believe their 2023 cybersecurity budget is not enough of an investment
• Organizations secured on average 25% more data in 2022

Almost all IT and security organisations (96%) globally are concerned their organization will be unable to maintain BC following a cyberattack, according to a new study released today by Rubrik, Inc.

“The State of Data Security: The Hard Truths of Data Security” by Rubrik Zero Labs provides a view into the data security landscape, what IT and security organisations experienced and struggled with in 2022, and the actions and steps they are taking to establish real cyber resilience.

Rubrik Zero Labs commissioned its second global study with Wakefield Research to gather insights from more than 1,600 IT and security leaders-half of which were CIOs and CISOs-across 10 countries.

Supplemented by Rubrik telemetry, key findings of the report include:

Everyone Doing Data Security, But Reality and Results Vary:

• Data security is becoming increasingly complex and the datasets that require securing are growing rapidly. Rubrik internal data revealed that on average, the growth of data secured in 2022 was 25% (on premises grew 19%, cloud grew 61%, and SaaS data secured grew 236% last year).
• More than half (56%) of organizations currently employ at least one zero trust initiative.
• However, only 56% of IT and security leaders developed or reviewed an incident response plan in 2022, and 54% tested backup and recovery options.

Legacy Data Backups, Last Line of Defense for Many,  Falling Short:

• 99% of external organizations reported having backup and recovery technology, with 93% encountering significant issues with their solution.
• 9 out of 10 external organizations reported malicious actors attempted to impact backups during a cyberattack, and 73% were at least partially successful in these attempts.
• Nearly ¾ (72%) of organizations reported paying a ransomware demand.
• Only 16% of all global organizations recovered all of their data via attacker decryption tools.

New and Constantly Evolving Problems Met With Existing Challenges Pre-dating an Intrusion:

• Almost half (47%) of IT and security leaders believe their 2023 cybersecurity budget is not enough of an investment.
• 27% expect their IT and cybersecurity budgets to decrease in 2023.
• IT and security organisations will need to work at bringing their teams together with only 4% stating there are no factors limiting the IT and security alignment requiring their attention this year.

“It’s clear organizations understand the gravity and impact of cyber incidents, but we also see a range of roadblocks from a lack of preparation, misalignment between IT and security teams, and over-reliance on insufficient backup and recovery solutions,” said Steven Stone, head, Rubrik Zero Labs. “In the current era of cybersecurity, the best outcome is ensuring cyber resilience. Incidents are inevitable, so it’s critical to reduce the risk before a response is needed, and-at all costs-protect the crown jewel: the data.“

“The State of Data Security” comes from Rubrik Zero Labs, the company’s cybersecurity research unit formed to analyze the global threat landscape, report on emerging data security issues, and give organizations research-backed insights and best practices to secure their data vs. increasing cyber events.

Report Methodology: “The State of Data Security:” It was commissioned by Rubrik and conducted by Wakefield Research among 1,625 IT and security decision makers at companies of 500 or more employees. Respondents were made up of approximately half CIOs and CISOs and half VPs and directors of IT and security. The research was conducted in USA, UK, France, Germany, Italy, Netherlands, Japan, Australia, Singapore, and India between February 10 and February 21, 2023.