Insights on Resilience, Converging Data Tools, Ransomware, and More: Splunk – Times of India

Splunk Inc., a leader in the data platform market for security and observability, has released four reports predicting how trends and technologies will impact business resilience in 2023.
The 2023 Predictions reports include insights from Splunk’s senior leaders and technology experts on the current and future technological and economic landscape.
Leadership Trends and Emerging Technologies
According to the report, organizations that prioritize resilience and modernize, simplify, and reduce costs while increasing the visibility of their environment will be better equipped to handle challenges. Those who converge security and observability data and use a common set of tools and data will be more resilient overall.
The report predicts that economic uncertainty will make it more difficult for organizations to experiment and take risks. As a result, vendors and visionaries will need to focus on providing value to customers. In the coming year, organizations can expect the focus to shift to improving the digital experience and serving customers more effectively.
Data Security
The report predicts that ransomware actors will increasingly skip the encryption step and move straight to cyber extortion. As ransomware gangs look for the most profitable targets, they will focus on infiltrating sensitive IP or customer data that could be used to blackmail companies into paying their demands.
Enterprise misinformation attacks are expected to become a significant problem in the coming years. These attacks are evolving beyond simple gift card scams and are taking new forms, such as social media account takeovers, the use of deep fakes to impersonate CEOs, and the manipulation of meme stocks to create uncertainty in both public and private markets.
Public Sector
Ransomware attacks are likely to become more sophisticated and frequent, particularly against K-12 schools. Educational organizations, particularly K-12 schools, are among the most common targets of these attacks. While basic cybersecurity measures can prevent many attacks, it is not possible to completely prevent all ransomware attacks. It is important for organizations to implement robust security measures and regularly update them to protect against these threats.
To handle the talent deficit, public sector organizations will need to implement short-term strategies in addition to long-term solutions. This may include anticipating short employee retention spans and incorporating expected departures into hiring plans. Additionally, public sector organizations may need to partner with vendors to get the most out of their existing investments and better manage fluctuations in talent. Implementing these strategies can help organizations adapt to the challenges of a changing workforce.
IT and Observability
As digital transformation becomes more complex and faster-paced, observability will become a key competency for organizations. It will enable them to monitor, understand, and manage the behavior of their systems and to use this information to improve their performance, reliability, and efficiency. The tools and technologies that support observability will become increasingly important for managing the complexity of digital transformation.
As observability becomes a basic requirement for digital transformation, automation will become the next differentiator for organizations. The complexity of digital systems and the shortage of tech talent will make automation essential for organizations to keep up with the pace of change.
Making automation smarter, using technologies such as machine learning and artificial intelligence, will enable organizations to tackle complex tasks such as responding to system outages and cyberattacks and onboarding new talent effectively. This will be a critical step in managing the complexity of digital transformation and staying ahead of the competition.