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Cybersecurity and data scientist shortfall are trends shaping business in 2016

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Cybersecurity and data scientist shortfall are trends shaping business in 2016

Six major trends and market disruptions that businesses should be prepared to address.

Organizations are no longer satisfied with simply "locking the doors" where cybersecurity is concerned and are instead going on the offensive by employing more predictive approaches to threat intelligence and monitoring, according to a report from professional services firm Deloitte. This, along with five other trends detailed in the report, are driving significant changes in the types of investments the C-suite is making to support business priorities.

"Business leaders continue to face many varying challenges and opportunities, and staying ahead of these trends will have a lasting impact on how their organizations will operate in the future," said John Lucker, principal, Deloitte Consulting LLP. "By going on the offensive with issues such as cybersecurity, organizations are making a strategic shift in the way they operate. Concurrently, the widening data scientist talent gap could be a business growth barrier. One thing is certain: effectively using analytics is essential in delivering insights that help achieve new levels of innovation and value."

Following are the six major trends most likely to significantly impact business in the coming year:

  • Cyber security: Offense can be the best defense – The worldwide financial services industry was projected to spend $27.4 billion on information security alone in the last year (according to International Data Corporation, IDC). These organizations are beginning to employ more predictive approaches to threat intelligence and monitoring, which may mean automated scanning of Internet "chatter" by far-flung groups and individuals who may intend cyber-harm or analyzing past hacks and breaches to create predictive models for tomorrow's threats. 
  • Companies struggle to bridge the data talent chasm – Smart companies are realizing that analytical talent is critical to their success and in short supply, but more than 40 percent struggle with finding the talent they need. In fact, businesses need more than 1.5 million new data scientists to operate at peak efficiency.

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