In the current interconnected world of Big Data and the Internet of Things, there are a lot of weak links.
At the RSA Conference this month in San Francisco, Splunk (SPLK), a maker of analytics software, announced five new members to its Adaptive Response Initiative (ARI). The company is pushing all leading cybersecurity vendors to build out solutions around its Enterprise Security framework. And for good reason. Network predation has become the single biggest threat to businesses today.
“We are evolving into a new stage of cybersecurity. We are entering the age of chaos, where small intrusions can have large secondary and tertiary effects never thought possible — with outcomes which impact our global institutions, businesses and geopolitical stability,” said Dr. Zulfikar Ramzan, chief technology officer of RSA in the conference keynote. “The industry is shifting from focusing on cybersecurity as a technology problem, to cybersecurity as a business problem. Organizations must look at how their strategy changes when the objective is to plan for chaos, instead of anticipating its arrival.”
AlgoSec, Demisto, RedSeal, Resolve Systems and Symantec (SYMC) will join Blue Coat, Carbon Black, Cisco (CSCO), Fortinet (FTNT), Palo Alto Networks (PANW) and several other leading security firms in the new initiative, building incident-response and security endpoints for the Enterprise Security framework.
These working relationships are a big deal for investors. They put Splunk software at the center of multi-vendor environments. They also allow customers to correlate data in real time while utilizing a wide range of security technologies.
|New cybersecurity software allows customers to correlate data in real time while utilizing a wide range of security technologies.|
Cyber-threats are growing increasingly common and sophisticated. In 2016, hackers stole $81 million from a Bangladesh bank, compromised more than 1 billion Yahoo accounts and impacted the U.S. presidential election by infiltrating the Democratic National Committee. In December, Moscow-based Kaspersky Lab discovered a strain of malware so advanced that it lived only in computer memory. It created no files, no footprint.
Businesses recognize the threat, and they are beginning to open their wallets. The research firm International Data Corporation estimates spending for cybersecurity software will rise to $101.6 billion by 2020. That is an increase of 38% over the $73.7 billion spent in 2016.
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“Today’s security climate is such that enterprises fear becoming victims of the next major cyber-attack or cyber-extortion,” said Sean Pike, program vice president, Security Products at IDC. “As a result, security has become heavily scrutinized by boards of directors demanding that security budgets are used wisely and solutions operate at peak efficiency.”
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Splunk is building efficiency by making security a team effort. The technologies within its ARI work together to help businesses quickly detect and defend against threats in real time.
The stock has performed well, and Splunk managers have industry-leading technology and a credible plan to reach $2 billion in sales. The shares remain very attractive for the long term.