Gartner Security Quotes

According to a recent report from the research firm Gartner Inc., “through 2017, 60% of big-data projects will fail to go beyond piloting and experimentation and will be abandoned.” It turns out that faith in Hadoop has outpaced the technology’s ability to bring big data into the mainstream. Demand for Hadoop is on the rise, yet customers have found that a technology built to index the Web may not be sufficient for corporate big-data tasks, said Nick Heudecker, research director for information management at Gartner. It can take a lot of work to combine data stored in legacy repositories with the data that’s stored in Hadoop. And while Hadoop can be much faster than traditional databases for some purposes, it often isn’t fast enough to respond to queries immediately or to work on incoming information in real time. Satisfying requirements for data security and governance also poses a challenge.

The ideas behind Bitcoin and blockchain technology give us a new starting point from which to address this problem. That’s because the question of who controls our data should stem first from a more fundamental question about who or what institutions we must trust in order to engage in commerce, obtain services, or participate in modern society. We see compelling arguments for a complete restructuring of the world’s data security paradigm. And it starts with thinking about how Internet users can start to directly trust each other, so as to avoid having to pour so much information into the centralized hubs that currently sit in the middle of their online relationships. Solving data security may first require a deliberate move from what we call the centralized trust model to one of decentralized trust. In an age when technology is supposed to be lowering the cost of entry, the outdated centralized trust-management system has proven expensive and restrictive (think about the 2 billion people in the world who are unbanked). It has also failed—spectacularly. Even though the world spent an estimated $75 billion on cybersecurity in 2015, according to estimates by Gartner, total annual losses from online fraud theft were running at $400 billion that year, said Inga Beale, CEO of British insurance market Lloyd’s of London. If you’re alarmed by that figure—and you ought to be—try this one on for size: $2.1 trillion. That’s the estimated fraud loss Juniper Research came up with after extrapolating from current trends into the even more digitally interconnected world projected for 2019. To put that figure in perspective, at current economic growth rates, it would represent more than 2.5 percent of total world GDP.

Creativity took precedence over accepted beliefs, and going out on a limb seemed invariably more attractive than security.

According to a study by the Gartner group, worldwide spending on security software totaled nearly $20 billion in 2012 and is forecast to skyrocket to $94 billion spent annually on cyber security by 2017.