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A growing majority of companies consider their security operations center (SOC) to be essential or important to their ability to secure their business and data, but the challenges in maintaining SOCs have expanded in the past year, the Ponemon Institute states in its second annual “Economics of Security Operations Centers” report, published on Jan. 12.
Questions regarding the return on investment of security operations and the increasing cost of retaining security analysts are among the most significant challenges uncovered by the study. More than half of respondents — 51% — consider SOCs to be less valuable, despite the number of breaches increasing, according to the Ponemon Institute. Exacerbating the issues, the average cost of a managed security service provider (MSSP) has increased to $5.3 million, up from $4.4 million in 2019, according to the report.
Along with the coronavirus pandemic, security teams have had to deal with the perennial problems of
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