• August 11, 2016

Security Readiness – 2016 CPG Executive Security Study

Security Readiness: Managing and Protecting Consumer Data

By Kara Romanow, ConsumerGoods.com

As data becomes more important to retail and consumer goods (CG) companies and the volume grows, breaches in security become more of a threat. Data no longer originates solely from within an organization, but comes from many sources. In fact, 71 percent tell us that the fundamental change in the way business is done, particularly multichannel, is having the biggest impact on security posture. This month, we partner with Hewlett Packard Enterprise to look at the current state of security as well as readiness in the CG industry. Only 16 percent of companies have made security a priority initiative. If we dig down to specific risks, exposure or loss of corporate information through e-mail or documents was ranked as the biggest risk, and then theft of intellectual property. Yet, companies do seem to recognize the risk, and almost half are concerned about the security of their consumer information and another 43 percent are in the process of strengthening security. Consumer interaction is a primary driver of new data and the subsequent security requirements are daunting. Loyalty data was cited by only one-third overall, but larger companies over $1 billion represent 74 percent of that group. In addition to consumer information, 91 percent are managing sales data, 57 percent collect promotion information, 55 percent supply chain optimization data, and 49 percent collect marketing mix success rates. To assess and protect that information, companies are pursuing various strategies. While 36 percent have an actively managed protect and defend plan for core assets, 14 percent employ an incident response team, 10 percent have a plan for attack detection and response, and 9 percent perform a risk and regulatory impact assessment.

Click here to read the study.