Old mainframe computers are interesting, especially to those of us who weren’t around to see them in action. We sit with old-timers and listen to their stories of the good ol’ days. They tell us about loading paper tape or giving instructions one at a time with toggle switches and LED output indicators. We hang on every word because its interesting to know how we got to this point in the tech-timeline and we appreciate the patience and insanity it must have taken to soldier on through the “good ol’ days”.

[Ken Shirriff] is making those good ol’ days come alive with a series of articles relating to his work with hardware at the Computer History Museum. His latest installment is an article describing the strange implementation of the IBM 1401’s qui-binary arithmetic. Full disclosure: It has not been confirmed that [Ken] is an “old-timer” however his article doesn’t help the argument that he isn’t.

Ken describes in thorough detail how the IBM 1401 — which was first introduced in 1959 — takes a decimal number as an input and operates on it one BCD digit at a time. Before performing the instruction the BCD number is converted to qui-binary. Qui-binary is represented by 7 bits, 5 qui bits and 2 binary bits: 0000000. The qui portion represents the largest even number contained in the BCD value and the binary portion represents a 1 if the BCD value is odd or a 0 for even. For example if the BCD number is 9 then the Q8 bit and the B1 bit are set resulting in: 1000010.

The qui-binary representation makes for easy error checking since only one qui bit should be set and only one binary bit should be set. [Ken] goes on to explain more complex arithmetic and circuitry within the IBM 1401 in his post.

If you aren’t familiar with [Ken], we covered his reverse engineering of the Sinclair Scientific Calculator, his explanation of the TL431, and of course the core memory repair that is part of his Computer History Museum work.

Thanks for the tip [bobomb].

IBM today announced a new strategy for the implementation of several “error mitigation” techniques designed to bring about the era of fault-tolerant quantum computers.

Up front: Anyone still clinging to the notion that quantum circuits are too noisy for useful computing is about to be disillusioned.

A decade ago, the idea of a working quantum computing system seemed far-fetched to most of us. Today, researchers around the world connect to IBM’s cloud-based quantum systems with such frequency that, according to IBM’s director of quantum infrastructure, some three billion quantum circuits are completed every day.

IBM and other companies are already using quantum technology to do things that either couldn’t be done by classical binary computers or would take too much time or energy. But there’s still a lot of work to be done.

The dream is to create a useful, fault-tolerant quantum computer capable of demonstrating clear quantum advantage — the point where quantum processors are capable of doing things that classical ones simply cannot.

Background: Here at Neural, we identified quantum computing as the most important technology of 2022 and that’s unlikely to change as we continue the perennial march forward.

The short and long of it is that quantum computing promises to do away with our current computational limits. Rather than replacing the CPU or GPU, it’ll add the QPU (quantum processing unit) to our tool belt.

What this means is up to the individual use case. Most of us don’t need quantum computers because our day-to-day problems aren’t that difficult.

But, for industries such as banking, energy, and security, the existence of new technologies capable of solving problems more complex than today’s technology can represents a paradigm shift the likes of which we may not have seen since the advent of steam power.

If you can imagine a magical machine capable of increasing efficiency across numerous high-impact domains — it could save time, money, and energy at scales that could ultimately affect every human on Earth — then you can understand why IBM and others are so eager on building QPUs that demonstrate quantum advantage.

The problem: Building pieces of hardware capable of manipulating quantum mechanics as a method by which to perform a computation is, as you can imagine, very hard.

IBM’s spent the past decade or so figuring out how to solve the foundational problems plaguing the field — to include the basic infrastructure, cooling, and power source requirements necessary just to get started in the labs.

Today, IBM’s quantum roadmap shows just how far the industry has come:

But to get where it’s going, we need to solve one of the few remaining foundational problems related to the development of useful quantum processors: they’re noisy as heck.

The solution: Noisy qubits are the quantum computer engineer’s current bane. Essentially, the more processing power you try to squeeze out of a quantum computer the noisier its qubits get (qubits are essentially the computer bits of quantum computing).

Until now, the bulk of the work in squelching this noise has involved scaling qubits so that the signal the scientists are trying to read is strong enough to squeeze through.

In the experimental phases, solving noisy qubits was largely a game of Wack-a-mole. As scientists came up with new techniques — many of which were pioneered in IBM laboratories — they pipelined them to researchers for novel application.

But, these days, the field has advanced quite a bit. The art of error mitigation has evolved from targeted one-off solutions to a full suite of techniques.

Per IBM:

Current quantum hardware is subject to different sources of noise, the most well-known being qubit decoherence, individual gate errors, and measurement errors. These errors limit the depth of the quantum circuit that we can implement. However, even for shallow circuits, noise can lead to faulty estimates. Fortunately, quantum error mitigation provides a collection of tools and methods that allow us to evaluate accurate expectation values from noisy, shallow depth quantum circuits, even before the introduction of fault tolerance.

In latest years, we developed and implemented two general-purpose error mitigation methods, called zero noise extrapolation (ZNE) and probabilistic error cancellation (PEC).

Both techniques involve extremely complex applications of quantum mechanics, but they basically boil down to finding ways to eliminate or squelch the noise coming off quantum systems and/or to amplify the signal that scientists are trying to measure for quantum computations and other processes.

Neural’s take: We spoke to IBM’s director of quantum infrastructure, Jerry Chow, who seemed pretty excited about the new paradigm.

He explained that the techniques being touted in the new press release were already in production. IBM’s already demonstrated massive improvements in their ability to scale solutions, repeat cutting-edge results, and speed up classical processes using quantum hardware.

The bottom line is that quantum computers are here, and they work. Currently, it’s a bit hit or miss whether they can solve a specific problem better than classical systems, but the last remaining hard obstacle is fault-tolerance.

IBM’s new “error mitigation” strategy signals a change from the discovery phase of fault-tolerance solutions to implementation.

We tip our hats to the IBM quantum research team. Learn more here at IBM’s official blog.

Chicago, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Data-centric Security Market size is projected to grow from an estimated value of USD 4.2 billion in 2022 to USD 12.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.9% from 2022 to 2027 according to a new report by MarketsandMarkets™. The need to secure most sensitive information (credit card numbers, intellectual property, or medical records), stringent compliances and regulations; the need to secure sensitive data on cloud, and growing data breach incidents is driving the growth of data-centric security market across the globe.

Browse in-depth TOC on “Data-centric Security Market”
362 – Tables
41 – Figures
269 – Pages

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By component, the services segment to register the highest growth rate during the forecast period

Based on component, data-centric security services have witnessed a growing demand in latest years. The services segment includes various services that are required to deploy, execute, and maintain data-centric security platforms in organizations. Enterprises need support from service providers to enhance their data management, policy control, auditing & reporting, data protection, and for maintaining the governance over various silos. Professional service providers help enterprises in deploying data centric security software and solutions and managing all the queries in the product life cycle.

The professional services are offered through professionals, specialists, or experts to support the business. These services include consulting, designing and development and implementation, and support services. The latest techniques, strategies, and skills adopted by the professionals are said to be helping organizations in adopting data centric security features. They also offer customized implementation and risk assessment and assist with the deployment via industry-defined best practices.

Story continues

With the increasing demand for data-centric security solutions in high-growth markets such as APAC and MEA, there is a significant demand for training and education services to spread awareness about various data-centric security solutions.

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Based on organization size, the SMEs segment to grow at the highest CAGR during the forecast period

By organization size, the data centric security market is sub-segmented into large enterprises and SMEs. SMEs use data centric security solutions to reduce data fraud while enhancing the customer experience. The growing usage of mobile devices has influenced the data transfer over business networks to personal devices, such as mobile phones and laptops. Hence, this helps in increasing the fraudulent data, cyberattacks, data losses, and threat of personal data thefts. These rising security issues have made way for SMEs to focus their concerns on data centric security. Although, SMEs have to consider their limited budget, the comprehension of corporate information being an important consideration, makes them use data discovery and classification, data protection, and data governance solutions. Moreover, these solutions are available at economical pricing in the cloud deployment type. In the coming years, data centric security solutions are expected to witness high adoption among SMEs, all over the region.

North America to hold the largest market share in 2022

North America is estimated to account for the highest market share in the data-centric security market in 2022. The region comprises some of the key vendors that offer data-centric security solutions and services; some of them are Informatica, IBM, Broadcom, Micro Focus, Varonis Systems, Forcepoint, among others. By country, the US is expected to hold the largest market share owing to the growing data breach incidents. Implementing these technologies enables large amounts of data to be operated upon, which has resulted in widespread adoption of cloud-based solutions and investments in the data-centric security market. North America is a highly regulated region in the world with numerous regulations and compliances, such as the Federal Energy Regulatory Commission (FERC), HIPAA, PCI DSS, and SOX, across verticals. All these factors contribute to the high market share.

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The major Players in data-centric security market are Informatica (US), IBM (US), Broadcom (US), Micro Focus (US), Varonis Systems (US), Talend (US), Orange Cyberdefense (France), Forcepoint (US), Imperva (US), NetApp (US), Infogix (US), PKWARE (US), Seclore (US), Fasoo (South Korea), Protegrity (US), Egnyte (US), Netwrix (US), Digital Guardian (US), HelpSystems (US), BigID (US), Securiti (US), SecuPi (US), Concentric.AI (US), Lepide (US), NextLabs (US), SealPath (Spain), Nucleus Cyber (US), and Dathena (Singapore).

Key and innovative vendors in the data-centric security market include Informatica (US), IBM (US), Broadcom (US), Micro Focus (US), Varonis Systems (US), Talend (US), Orange Cyberdefense (France), Forcepoint (US), Imperva (US), NetApp (US), Infogix (US), PKWARE (US), Seclore (US), Fasoo (South Korea), Protegrity (US), Egnyte (US), Netwrix (US), Digital Guardian (US), HelpSystems (US), BigID (US), Securiti (US), SecuPi (US), Concentric.AI (US), Lepide (US), NextLabs (US), SealPath (Spain), Nucleus Cyber (US), and Dathena (Singapore).

Browse Adjacent Markets: Information Security Market Research Reports & Consulting

Related Reports:

Data Discovery Market by Component, Functionality, Organization Size, Deployment Mode, Application, Vertical (BFSI, Healthcare and Life Sciences, Telecommunications and IT, Manufacturing), and Region - Global Forecast to 2025

Serverless Security Market by Service Model (BaaS and FaaS), Security Type (Data, Network, Perimeter, and Application), Deployment Mode (Public and Private), Organization Size (SMEs and Large enterprises), Vertical, and Region - Global Forecast to 2026

CONTACT: About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

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"IBM (US), Genesys (US), AWS (US), Five9 (US), Twilio (US), Mitel (Canada), Cisco (US), BT (UK), Verizon (US), Avaya (US), Vonage (US), 8x8 (US), Atos (France), Talkdesk (US), NICE (Israel), Alcatel Lucent Enterprise (France) and more."

Contact Center Software Market by Component (Solutions and Services), Deployment Model (Cloud and On-Premises), Organization Size ( Large and Small and Medium-Sized Enterprises), Industry and Region - Global Forecast to 2027

The Contact Center Software Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period, to reach USD 93.7 billion by 2027 from USD 35.2 billion in 2022.

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Services help organizations in effective integration and implementation of Contact Center Software software with the existing in-house infrastructure

The services segment of Contact Center Software is expected to have a promising future due to various integration of contact center solutions. Services help organizations in building successful customer relationships by continuously supporting them through their business tenure. The growing need for integrating Contact Center Software with other enterprise business applications to drive the growth of Contact Center Software services. These services offered by vendors help users select the best Contact Center Software software, which is appropriate to their business needs.

Scope of the Report

Report Metrics	Details
Market size available for years	2022-2027
Base year considered	2021
Forecast period	2022-2027
Forecast units	Value (USD Million/Billion)
Segments covered	Components (Solution and Services), Deployment Models, Organization Size, Industries, and Regions
Regions covered	North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered	IBM (US), Genesys (US), AWS (US), Five9 (US), Twilio (US), Mitel (Canada), Cisco (US), BT (UK), Verizon (US), Avaya (US), Vonage (US), 8x8 (US), Atos (France), Talkdesk (US), NICE (Israel), Alcatel Lucent Enterprise (France) and more.

The Cloud-based Contact Center Software solutions help reduce the overall costs and provide highly flexible and scalable access to solutions through the IT infrastructure hosted by the cloud service provider.

The rising shift from on-premises to cloud infrastructure is increasing the demand for Contact Center Software solutions which is mainly due to various benefits of the cloud that include 24x7 data accessibility, rapid implementation, reduced setup, and operational cost, which is Capital Expenditure (CAPEX) and Operating Expense (OPEX), less maintenance cost, scalability, and ease of use for a company with limited IT staff and budget. The adoption of cloud deployment has increased over the five years, especially in SMEs.

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The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Genesys, IBM, AWS, Five9, and Twilio have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the Contact Center Software market.

Genesys offers an exhaustive product portfolio and best-in-class tailored offerings to customers. Hence, the company has witnessed new bookings growth of more than 40% in every quarter of 2020, especially due to the strong progress of its cloud platforms that has enhanced its market share in the contact center software market. Moreover, in January 2020, Genesys rebranded its flagship SaaS offering PureCloud to Genesys Cloud to mark the launch of experience as a service via its cloud platform with a new pricing model. Genesys Cloud offers a flexible environment to meet customer needs with capabilities including call center software, digital sales and service automation, workforce engagement and management, reporting and analytics, and integration and apps. Genesys offers consolidated contact centers and business communications in the all-in-one platform. The company is a pioneer in AI and has a strong focus on intelligent automation as compared to others. In AI, Genesys provides an early adopter program that features Google Contact Center capabilities such as predictive routing.

Five9 has a broad technology portfolio of contact center products, solutions, and services. Hence, it encounters strong competition in all areas of business due to the presence of many big competitors in the contact center software market. The company focuses on delivering its platform on the cloud and is disrupting a significantly large market by replacing legacy on-premises contact center systems with cloud-based contact centers. Furthermore, it has developed a high velocity, metrics-driven sales, and marketing strategy, designed to effectively identify, qualify, and grab sales opportunities. The sales model adopted by Five9 consists of a field sales team and a tele-sales team that sell its solutions. Five9 has also developed a large ecosystem of technology and system integrator partners and independent software vendors to help increase awareness about its solution in the market and drive incremental sales opportunities with new and existing clients.

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“Google (US), IBM (US), Oracle (US), Adobe (US), Salesforce (US), Medallia (US), Veritone (US), LatentView Analytics (US), Mixpanel (US), Amplitude (US), Pendo (US), Kissmetrics (US), Gainsight (US), UserIQ (US), Copper CRM (US), Countly (UK), Heap (US), Plytix (Denmark), Risk Edge Solutions (India), Woopra (US), Piwik PRO (Poland), Smartlook (Czech Republic).”

Product Analytics Market by Component, Mode (Tracking Data, Analyzing Data), End User (Sales & Marketing Professionals, Consumer Engagement), Deployment Mode, Organization Size, Vertical, & Region – Global Forecast to 2026

The global Product Analytics Market size to grow from USD 9.6 billion in 2021 to USD 25.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period. Various factors such as growing need to Strengthen customer behavior management to deliver personalized recommendation of products, increasing demand for advanced analytics tools to ensure market competitiveness, and growing adoption of big data and other related technologies are expected to drive the adoption of product analytics solutions and services.

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COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, several governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI. Advanced analytics and AI are invaluable to organizations managing uncertainty in real-time, but most predictive models rely on historical patterns. The use of advanced analytics and AI has accelerated in the COVID-19 pandemic period. This has helped organizations engage customers through digital channels, manage fragile and complex supply chains, and support workers through disruption to their work and lives. At the same time, leaders have identified a major weakness in their analytics strategy: the reliance on historical data for algorithmic models. From customer behavior to supply and demand patterns, historical patterns, and the assumption of continuity are empowering the predictive models. Technology and service providers have been facing significant disruption to their businesses from COVID-19. It has become important for product managers to evaluate the critical ways in which the pandemic affects their teams so they can mitigate the negative effects and plan for recovery. Product managers serve at the intersection of different functions. They glue together product, engineering, and design. However, as the COVID-19 has been changing the product landscape, these relationships have gone remote and that is not the only problem teams are tackling. As many of the world’s major economies work to address the second wave of COVID-19, it would be an appropriate time to look at how the pandemic has changed product management. Hence, the COVID-19 pandemic has disrupted the global financial markets and has created panic, uncertainty, and distraction in the operations of global corporations.

Scope of the Report

Report Attributes	Details
Market size available for years	2020–2026
Base year considered	2020
Forecast period	2021–2026
Product Analytics Market Size in 2026	USD 25.3 billion
Growth Rate	21.3%
Segments covered	Component, Mode (Tracking Data, Analyzing Data), End User (Sales & Marketing Professionals, Consumer Engagement), Deployment Mode, Organization Size, Vertical, & Region
Geographies covered	North America, Europe, APAC, MEA, and Latin America
Companies covered	Google (US), IBM (US), Oracle (US), Adobe (US), Salesforce (US), Medallia (US), Veritone (US), LatentView Analytics (US), Mixpanel (US), Amplitude (US), Pendo (US), Kissmetrics (US), Gainsight (US), UserIQ (US), Copper CRM (US), Countly (UK), Heap (US), Plytix (Denmark), Risk Edge Solutions (India), Woopra (US), Piwik PRO (Poland), Smartlook (Czech Republic), LogRocket (US), Auryc (US), Quantum Metric (US), cux.io (Germany), Refiner (France), InnerTrends (England), GrowthSimple (US), OmniPanel (US), and Productlift (Canada)

 

The services segment to hold higher CAGR during the forecast period

Based on components, the product analytics market is segmented into solutions and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of product analytics solutions, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of product analytics solutions is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers Strengthen business operations and cut expenses.

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As per Heap, product analytics is a robust set of tools that allow product managers and product teams to assess the performance of the digital experiences they build. Product analytics provides critical information to optimize performance, diagnose problems, and correlate a customer activity with a long-term value. The product analytics market comprises product analytics services and solutions embedded with advanced technologies, such as Artificial Intelligence (AI) and Machine Learning (ML) and big data analytics.

Some of the key players operating in the product analytics market include Google (US), IBM (US), Oracle (US), Adobe (US), Salesforce (US), Medallia (US), Veritone (US), LatentView Analytics (US), Mixpanel (US), Amplitude (US), Pendo (US), Kissmetrics (US), Gainsight (US), UserIQ (US), Copper CRM (US), Countly (UK), Heap (US), Plytix (Denmark), Risk Edge Solutions (India), Woopra (US), Piwik PRO (Poland), Smartlook (Czech Republic), LogRocket (US), Auryc (US), Quantum Metric (US), cux.io (Germany), Refiner (France), InnerTrends (England), GrowthSimple (US), OmniPanel (US), and Productlift (Canada). These product analytics vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global product analytics market.

Oracle was incorporated in 1977 and is headquartered in California, US. The company is a global leader in delivering a broad spectrum of products, solutions, and services designed to meet the requirements of corporate IT environments, such as platforms, applications, and infrastructure. Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company, directly and indirectly, sells its products and services through a worldwide sales force and Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. It provides SaaS offerings that are designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters to 4,30,000 customers across banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities verticals. Oracle offers Oracle Analytics Cloud, Oracle Analytics Server, Oracle fusion analytics, and Oracle Essbase in the product analytics market.

IBM is a multinational technology and consulting corporation founded in the year 1911 and is headquartered in New York, US. It offers infrastructure, hosting, and consulting services and operates through five major business segments: cloud and cognitive software, global business services, global technology services, systems, and global financing. IBM’s product portfolio comprises various segments, such as IoT, analytics, security, mobile, social, and Watson. It caters to various industry verticals that include aerospace and defense, education, healthcare, oil and gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy and utilities, life sciences, telecommunications, media and entertainment, chemicals, government, manufacturing, travel and transportation, construction, and metals and mining. The company has a robust presence in the Americas, Europe, the MEA, and Asia Pacific and clients in more than 175 countries. In the product analytics market, IBM offers IBM Cognos Analytics, IBM Planning Analytics, IBM Spectrum control, IBM Streaming Analytics, and IBM QRadar User Behavior Analytics (UBA).

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IBM Report: Consumers Pay the Price as Data Breach Costs Reach All-Time High

60% of breached businesses raised product prices post-breach; vast majority of critical infrastructure lagging in zero trust adoption; $550,000 in extra costs for insufficiently staffed businesses CAMBRIDGE, Mass., July 27, 2022 /PRNewswire/ -- IBM (NYSE: IBM) Security today released the annual Cost of a Data Breach Report,1  revealing costlier and higher-impact data breaches than ever before, with the global average cost of a data breach reaching an all-time high of $4.35 million for studied organizations. With breach costs increasing nearly 13% over the last two years of the report, the findings suggest these incidents may also be contributing to rising costs of goods and services. In fact, 60% of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues. The perpetuality of cyberattacks is also shedding light on the "haunting effect" data breaches are having on businesses, with the IBM report finding 83% of studied organizations have experienced more than one data breach in their lifetime. Another factor rising over time is the after-effects of breaches on these organizations, which linger long after they occur, as nearly 50% of breach costs are incurred more than a year after the breach. The 2022 Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches experienced by 550 organizations globally between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute. Some of the key findings in the 2022 IBM report include: Critical Infrastructure Lags in Zero Trust – Almost 80% of critical infrastructure organizations studied don't adopt zero trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% of breaches amongst these organizations were ransomware or destructive attacks. It Doesn't Pay to Pay – Ransomware victims in the study that opted to pay threat actors' ransom demands saw only $610,000 less in average breach costs compared to those that chose not to pay – not including the cost of the ransom. Factoring in the high cost of ransom payments, the financial toll may rise even higher, suggesting that simply paying the ransom may not be an effective strategy. Security Immaturity in Clouds – Forty-three percent of studied organizations are in the early stages or have not started applying security practices across their cloud environments, observing over $660,000 on average in higher breach costs than studied organizations with mature security across their cloud environments. Security AI and Automation Leads as Multi-Million Dollar Cost Saver – Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study. "Businesses need to put their security defenses on the offense and beat attackers to the punch. It's time to stop the adversary from achieving their objectives and start to minimize the impact of attacks. The more businesses try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel cost of living increases." said Charles Henderson, Global Head of IBM Security X-Force. "This report shows that the right strategies coupled with the right technologies can help make all the difference when businesses are attacked." Over-trusting Critical Infrastructure Organizations Concerns over critical infrastructure targeting appear to be increasing globally over the past year, with many governments' cybersecurity agencies  urging vigilance against disruptive attacks. In fact, IBM's report reveals that ransomware  and destructive attacks represented 28% of breaches amongst critical infrastructure organizations studied, highlighting how threat actors are seeking to fracture the global supply chains that rely on these organizations. This includes financial services, industrial, transportation and healthcare companies amongst others. Despite the call for caution, and a year after the Biden Administration issued a cybersecurity executive order that centers around the importance of adopting a zero trust approach to strengthen the nation's cybersecurity, only 21% of critical infrastructure organizations studied adopt a zero trust security model, according to the report. Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose. Businesses that Pay the Ransom Aren't Getting a "Bargain" According to the 2022 IBM report, businesses that paid threat actors' ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid. However, when accounting for the average ransom payment, which according to Sophos reached $812,000 in 2021, businesses that opt to pay the ransom could net higher total costs - all while inadvertently funding future ransomware attacks with capital that could be allocated to remediation and recovery efforts and looking at potential federal offenses. The persistence of ransomware, despite significant global efforts to impede it, is fueled by the industrialization of cybercrime. IBM Security X-Force discovered the duration of studied enterprise ransomware attacks shows a drop of 94% over the past three years – from over two months to just under four days. These exponentially shorter attack lifecycles can prompt higher impact attacks, as cybersecurity incident responders are left with very short windows of opportunity to detect and contain attacks. With "time to ransom" dropping to a matter of hours, it's essential that businesses prioritize rigorous testing of incident response (IR) playbooks ahead of time. But the report states that as many as 37% of organizations studied that have incident response plans don't test them regularly. Hybrid Cloud Advantage The report also showcased hybrid cloud environments as the most prevalent (45%) infrastructure amongst organizations studied. Averaging $3.8 million in breach costs, businesses that adopted a hybrid cloud model observed lower breach costs compared to businesses with a solely public or private cloud model, which experienced $5.02 million and $4.24 million on average respectively. In fact, hybrid cloud adopters studied were able to identify and contain data breaches 15 days faster on average than the global average of 277 days for participants. The report highlights that 45% of studied breaches occurred in the cloud, emphasizing the importance of cloud security. However, a significant 43% of reporting organizations stated they are just in the early stages or have not started implementing security practices to protect their cloud environments, observing higher breach costs2. Businesses studied that did not implement security practices across their cloud environments required an average 108 more days to identify and contain a data breach than those consistently applying security practices across all their domains. Additional findings in the 2022 IBM report include: Phishing Becomes Costliest Breach Cause – While compromised credentials continued to reign as the most common cause of a breach (19%), phishing was the second (16%) and the costliest cause, leading to $4.91 million in average breach costs for responding organizations. Healthcare Breach Costs Hit Double Digits for First Time Ever– For the 12th year in a row, healthcare participants saw the costliest breaches amongst industries with average breach costs in healthcare increasing by nearly $1 million to reach a record high of $10.1 million. Insufficient Security Staffing – Sixty-two percent of studied organizations stated they are not sufficiently staffed to meet their security needs, averaging $550,000 more in breach costs than those that state they are sufficiently staffed. Additional Sources To download a copy of the 2022 Cost of a Data Breach Report, please visit: https://www.ibm.com/security/data-breach. Read more about the report's top findings in this IBM Security Intelligence blog. Sign up for the 2022 IBM Security Cost of a Data Breach webinar on Wednesday, August 3, 2022, at 11:00 a.m. ET here. Connect with the IBM Security X-Force team for a personalized review of the findings: https://ibm.biz/book-a-consult. About IBM Security IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by world-renowned IBM Security X-Force ®  research, enables organizations to effectively manage risk and defend against emerging threats.  IBM operates one of the world's broadest security research, development, and delivery organizations, monitors  150 billion+ security events per day in more than 130 countries, and has been granted more than 10,000 security patents worldwide. For more information, please check www.ibm.com/security, follow @IBMSecurity on  Twitter or visit the IBM Security Intelligence blog. Press Contact: IBM Security Communications Georgia Prassinos gprassinos@ibm.com 1 Cost of a Data Breach Report 2022, conducted by Ponemon Institute, sponsored, and analyzed by IBM 2  Average cost of $4.53M, compared to average cost $3.87 million at participating organizations with mature-stage cloud security practices Photo - https://mma.prnewswire.com/media/1865847/IBM_CODB.jpg Logo - https://mma.prnewswire.com/media/95470/ibm_logo.jpg

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Jul 07, 2022 (AB Digital via COMTEX) -- The global Product Analytics Market size to grow from USD 9.6 billion in 2021 to USD 25.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period. Various factors such as growing need to Strengthen customer behavior management to deliver personalized recommendation of products, increasing demand for advanced analytics tools to ensure market competitiveness, and growing adoption of big data and other related technologies are expected to drive the adoption of product analytics solutions and services.

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COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, several governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI. Advanced analytics and AI are invaluable to organizations managing uncertainty in real-time, but most predictive models rely on historical patterns. The use of advanced analytics and AI has accelerated in the COVID-19 pandemic period. This has helped organizations engage customers through digital channels, manage fragile and complex supply chains, and support workers through disruption to their work and lives. At the same time, leaders have identified a major weakness in their analytics strategy: the reliance on historical data for algorithmic models. From customer behavior to supply and demand patterns, historical patterns, and the assumption of continuity are empowering the predictive models. Technology and service providers have been facing significant disruption to their businesses from COVID-19. It has become important for product managers to evaluate the critical ways in which the pandemic affects their teams so they can mitigate the negative effects and plan for recovery. Product managers serve at the intersection of different functions. They glue together product, engineering, and design. However, as the COVID-19 has been changing the product landscape, these relationships have gone remote and that is not the only problem teams are tackling. As many of the world’s major economies work to address the second wave of COVID-19, it would be an appropriate time to look at how the pandemic has changed product management. Hence, the COVID-19 pandemic has disrupted the global financial markets and has created panic, uncertainty, and distraction in the operations of global corporations.

Scope of the Report

Report Attributes	Details
Market size available for years	2020–2026
Base year considered	2020
Forecast period	2021–2026
Product Analytics Market Size in 2026	USD 25.3 billion
Growth Rate	21.3%
Segments covered	Component, Mode (Tracking Data, Analyzing Data), End User (Sales & Marketing Professionals, Consumer Engagement), Deployment Mode, Organization Size, Vertical, & Region
Geographies covered	North America, Europe, APAC, MEA, and Latin America
Companies covered	Google (US), IBM (US), Oracle (US), Adobe (US), Salesforce (US), Medallia (US), Veritone (US), LatentView Analytics (US), Mixpanel (US), Amplitude (US), Pendo (US), Kissmetrics (US), Gainsight (US), UserIQ (US), Copper CRM (US), Countly (UK), Heap (US), Plytix (Denmark), Risk Edge Solutions (India), Woopra (US), Piwik PRO (Poland), Smartlook (Czech Republic), LogRocket (US), Auryc (US), Quantum Metric (US), cux.io (Germany), Refiner (France), InnerTrends (England), GrowthSimple (US), OmniPanel (US), and Productlift (Canada)

The services segment to hold higher CAGR during the forecast period

Based on components, the product analytics market is segmented into solutions and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of product analytics solutions, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of product analytics solutions is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers Strengthen business operations and cut expenses.

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As per Heap, product analytics is a robust set of tools that allow product managers and product teams to assess the performance of the digital experiences they build. Product analytics provides critical information to optimize performance, diagnose problems, and correlate a customer activity with a long-term value. The product analytics market comprises product analytics services and solutions embedded with advanced technologies, such as Artificial Intelligence (AI) and Machine Learning (ML) and big data analytics.

Some of the key players operating in the product analytics market include Google (US), IBM (US), Oracle (US), Adobe (US), Salesforce (US), Medallia (US), Veritone (US), LatentView Analytics (US), Mixpanel (US), Amplitude (US), Pendo (US), Kissmetrics (US), Gainsight (US), UserIQ (US), Copper CRM (US), Countly (UK), Heap (US), Plytix (Denmark), Risk Edge Solutions (India), Woopra (US), Piwik PRO (Poland), Smartlook (Czech Republic), LogRocket (US), Auryc (US), Quantum Metric (US), cux.io (Germany), Refiner (France), InnerTrends (England), GrowthSimple (US), OmniPanel (US), and Productlift (Canada). These product analytics vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global product analytics market.

Oracle was incorporated in 1977 and is headquartered in California, US. The company is a global leader in delivering a broad spectrum of products, solutions, and services designed to meet the requirements of corporate IT environments, such as platforms, applications, and infrastructure. Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company, directly and indirectly, sells its products and services through a worldwide sales force and Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. It provides SaaS offerings that are designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters to 4,30,000 customers across banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities verticals. Oracle offers Oracle Analytics Cloud, Oracle Analytics Server, Oracle fusion analytics, and Oracle Essbase in the product analytics market.

IBM is a multinational technology and consulting corporation founded in the year 1911 and is headquartered in New York, US. It offers infrastructure, hosting, and consulting services and operates through five major business segments: cloud and cognitive software, global business services, global technology services, systems, and global financing. IBM’s product portfolio comprises various segments, such as IoT, analytics, security, mobile, social, and Watson. It caters to various industry verticals that include aerospace and defense, education, healthcare, oil and gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy and utilities, life sciences, telecommunications, media and entertainment, chemicals, government, manufacturing, travel and transportation, construction, and metals and mining. The company has a robust presence in the Americas, Europe, the MEA, and Asia Pacific and clients in more than 175 countries. In the product analytics market, IBM offers IBM Cognos Analytics, IBM Planning Analytics, IBM Spectrum control, IBM Streaming Analytics, and IBM QRadar User Behavior Analytics (UBA).

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