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Killexams : IBM Analysts approach - BingNews https://killexams.com/pass4sure/exam-detail/P2065-035 Search results Killexams : IBM Analysts approach - BingNews https://killexams.com/pass4sure/exam-detail/P2065-035 https://killexams.com/exam_list/IBM Killexams : IBM: exact Earnings Are Not A Sign Of Fundamental Change
Entrance of modern office tower at City of Zürich.

Michael Derrer Fuchs

In the past few months International Business Machines (NYSE:IBM) has turned into one of the best performing tech names. Since I first covered the company in January of 2021 IBM returned 17%, compared to merely 8% for the broader equity market.

IBM total return Chart
Data by YCharts

During this timeframe the spin-off of Kyndryl (KD) was completed and now that the underperforming assets have been unloaded, expectations around the 'New IBM' are running high. Unfortunately, however, the strong share price performance since November of last year has little to do with IBM's fundamentals.

As we see in the graph below, the iShares Edge MSCI USA Momentum Factor ETF (MTUM) peaked also in November of last year and since then the gap with the iShares Edge MSCI USA Value Factor ETF (VLUE) has been expanding.

MTUM vs VLUE price
Data by YCharts

As expectations of monetary tightening begun to surface and inflationary pressures intensified, high duration and momentum stocks begun to underperform the lower duration value companies. I talked about this dynamic in my exact analysis called 'The Cloud Space In Numbers: What Matters The Most', where I showed why the high-growth names were at risk. More specifically, I distinguished between the companies in the bottom left-hand corner and those in the upper right-hand corner in the graph below.

Revenue Growth (fwd) vs. P/E Non-GAAP (fwd) - November 2021

prepared by the author, using data from Seeking Alpha

As we see in the graph below, the high flyers, such as Workday (WDAY), Salesforce (CRM) and Adobe (ADBE), have become the worst performers, while companies like IBM and Oracle (ORCL) that were usually associated with low expected growth and low valuation multiples became the new stars.

IBM vs peers price
Data by YCharts

Although this was good news for value investors as a whole and is a trend that could easily continue, we should distinguish between strong business performance and market-wide forces. Having said that, IBM shareholders should not simply assume that the strong share price performance is a sign of strong execution. Needless to say, the Kyndryl disastrous performance of losing 75% of its value in a matter of months also lies on the shoulders of current management of IBM.

Kyndryl market cap
Data by YCharts

A Closer Look At IBM's exact Earnings

IBM's recently reported quarterly numbers once again disappointed and the management seems to have largely attributed the U.S. dollar movement to the slightly lower guidance.

IBM 2022 Outlook

IBM Earnings Release

Alongside the guidance gross margins also fell across the board, with the exception of the Financing division, which is relatively small to the other business units.

IBM Q2 2022 margins

IBM Q2 2022 Earnings Release

Rising labour and component costs were also to blame during the quarter and the management is addressing these through pricing actions which should take some time.

Although this is likely true, IBM is also reducing spend on research and development and selling, general and administrative functions. Such actions are usually taken as a precaution during downturns, however, consistent lower spend in those areas could often have grave consequences.

IBM fixed costs

prepared by the author, using data from annual and quarterly reports

Last but not least, the reported EPS numbers from continuing operations should also be adjusted as I have outlined before.

IBM Q2 2022 EPS

IBM Q2 2022 Earnings Release

I usually exclude the royalty income and all income/expenses grouped in the 'other' category. These expenses/income usually have little to do with IBM's ongoing business and as such I deem them to be irrelevant for long-term shareholders.

IBM Intellectual Property Income

IBM Annual Report 2021

IBM other income

IBM Annual Report 2021

On an adjusted basis, EPS increased from $1.08 in Q2 2021 to $1.33 in Q2 2022, which although is a notable increase remains low. Just as a back of the envelope calculation, if we annualize the last quarterly result, we end up with a total EPS number of $5.3 or a forward P/E ratio of almost 25x. Given all the difficulties facing IBM and its growth profile, this still appears as too high.

Has Anything Changed Following The exact Earnings?

As expected, IBM continued on its strategy to fuel its growth through a frenzy of acquisitions and divestitures. Following the Kyndryl spin-off, the company completed four deals in a matter of just few months.

IBM acquire Envizi

Seeking Alpha

IBM acquire Sentaca

Seeking Alpha

IBM acquire Randori

Seeking Alpha

IBM acquire Databand.ai

Seeking Alpha

As I have said before, all that does not bode well for the prospects of IBM's legacy businesses. Moreover, the management does not seem to be focused on organic growth numbers in their quarterly reviews which is even more worrisome.

Now that the underperforming assets have been off-loaded, IBM's dividend payments are still too high relative to its adjusted income.

IBM net income versus dividend

prepared by the author, using data from annual and quarterly reports

* adjusted for Intellectual property and custom development income, Other (income) and expense and Income/(loss) from discontinued operations, net of tax

As previously noted, this puts the company between a rock and a hard place. However, reducing or discontinuing the dividend could potentially result in an exodus of long-term shareholders.

We should also mention that IBM has been barely paying any taxes over exact years due to various tax credits (see below). This, however, is gradually changing and will likely provide yet another headwind on EPS numbers in the future.

IBM tax expense

prepared by the author, using data from annual and quarterly reports

Even though the narrative around IBM has been largely focused on its business turning around, the company's free cash flow per share continues to decline.

IBM free cash flow

prepared by the author, using data from annual and quarterly reports

Conclusion

A potential upside based on a successful turnaround story of IBM that is gravitating around the hybrid cloud is a major reason for many current and potential shareholders of IBM to hope for a light at the end of the tunnel. However, little seems to have changed at IBM following the spin-off of Kyndryl and a declining business also creates a significant moral hazard problem for management where more risk taking is incentivized. All that combined with the fact that IBM is doing M&A deals almost on a monthly basis, creates significant risks for long-term owners of the business.

Mon, 25 Jul 2022 02:53:00 -0500 en text/html https://seekingalpha.com/article/4525527-ibm-recent-earnings-not-sign-fundamental-change
Killexams : IBM Report Reveals Economic Impact of Data Breaches

IBM published a report today that suggested data breaches are starting to have a material impact on the cost of goods and services.

An IBM analysis of data breaches that occurred in 550 organizations found the average cost of a data breach has now reached an all-time high of $4.35 million for the organizations IBM studied, a 13% increase since the last time IBM published a similar report two years ago.

A total of 60% of respondents reported they have raised prices on their products or services as a direct consequence.

Limor Kessem, executive security advisor for IBM, said organizations can’t absorb the cost of data breaches without passing them along to customers in some form or another. In effect, data breaches are now a digital ‘tax’ that is being added to the cost of goods and services, she added.

In fact, the smaller the company the less financially able they are to absorb the cost of a data breach, Kessem noted. The expectation is that data breaches are now a cost of doing business. Investors in these organizations expect data breach costs will be covered by the revenue that organizations generate without negatively impacting profits, she said.

Overall, the IBM report found that 83% of respondents experienced at least one breach, with 50% of those costs occurring more than a year after the breach was initially discovered.

The IBM report also made it clear that most organizations still have a lot of work to do in terms of improving their security posture. The report found that 80% of the organizations that need to protect critical infrastructure have yet to implement a zero-trust approach to IT. The IBM report found that data breaches within organizations that don’t have a zero-trust strategy cost, on average, $5.4 million compared to $1.17 million for those that have adopted zero-trust.

A total of 43% of the organizations studied have not or are still in the early stages of applying security practices across cloud environments. As a result, they have incurred $660,000 in higher breach costs on average than organizations with mature cloud security practices, according to the report.

The report also found organizations that have fully deployed security AI and automation incurred, on average, $3.05 million less in data breach costs than those that have not.

Finally, the report noted that ransomware victims that caved into demands only saw $610,000 less in average breach costs compared to those that chose not to pay, exclusive of the cost of the ransom itself.

It’s not clear how severely cyberattacks are sapping the global economy, but it’s clear that far too few organizations are doing enough to thwart these attacks. Despite all available evidence to the contrary, many business leaders are likely hoping law enforcement agencies will make the problem go away. However, as most cybersecurity professionals well know, the odds of that happening are slim to none.

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Wed, 27 Jul 2022 00:41:00 -0500 by Michael Vizard on July 27, 2022 en-US text/html https://securityboulevard.com/2022/07/ibm-report-reveals-economic-impact-of-data-breaches/
Killexams : IBM Report: Data Breach Costs Reach All-Time High

For the twelfth year in a row, healthcare saw the costliest breaches among all industries with the average cost reaching $10.1 million per breach.

CAMBRIDGE, Mass. — IBM (NYSE: IBM) Security released the annual Cost of a Data Breach Report, 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.

To get a copy of the 2022 Cost of a Data Breach Report, visit https://www.ibm.com/security/data-breach.

Fri, 29 Jul 2022 02:15:00 -0500 CS Staff en text/html https://www.campussafetymagazine.com/research/ibm-report-data-breach-costs-reach-all-time-high/
Killexams : International Business Machines Corporation: Better margin profile, solid guidance

Summary

IBM is a leading U.S.-based provider of enterprise IT hardware, software and services. In November 2021, IBM spun off the managed infrastructure assets of its former Global Technology Services business into Kyndryl (NYSE: KD). To align with its platform-centric approach, IBM has revised its segment reporting into four major categories: Consulting, Software, Infrastructure, and Global Financing.

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Tue, 19 Jul 2022 08:18:00 -0500 en-US text/html https://finance.yahoo.com/research/reports/ARGUS_3073_AnalystReport_1658253018000/
Killexams : IBM Annual Cost of Data Breach Report 2022: Record Costs Usually Passed On to Consumers, “Long Breach” Expenses Make Up Half of Total Damage

IBM’s annual Cost of Data Breach Report for 2022 is packed with revelations, and as usual none of them are good news. Headlining the report is the record-setting cost of data breaches, with the global average now at $4.35 million. The report also reveals that much of that expense comes with the data breach version of “long Covid,” expenses that are realized more than a year after the attack.

Most organizations (60%) are passing these added costs on to consumers in the form of higher prices. And while 83% of organizations now report experiencing at least one data breach, only a small minority are adopting zero trust strategies.

Security AI and automation greatly reduces expected damage

The IBM report draws on input from 550 global organizations surveyed about the period between March 2021 and March 2022, in partnership with the Ponemon Institute.

Though the average cost of a data breach is up, it is only by about 2.6%; the average in 2021 was $4.24 million. This represents a total climb of 13% since 2020, however, reflecting the general spike in cyber crime seen during the pandemic years.

Organizations are also increasingly not opting to absorb the cost of data breaches, with the majority (60%) compensating by raising consumer prices separate from any other exact increases due to inflation or supply chain issues. The report indicates that this may be an underreported upward influence on prices of consumer goods, as 83% of organizations now say that they have been breached at least once.

Brad Hong, Customer Success Manager for Horizon3.ai, sees a potential consumer backlash on the horizon once public awareness of this practice grows: “It’s already a breach of confidence to lose the confidential data of customers, and sure there’s bound to be an organization across those surveyed who genuinely did put in the effort to protect against and curb attacks, but for those who did nothing, those who, instead of creating a disaster recovery plan, just bought cyber insurance to cover the org’s operational losses, and those who simply didn’t care enough to heed the warnings, it’s the coup de grâce to then pass the cost of breaches to the same customers who are now the victims of a data breach. I’d be curious to know what percent of the 60% of organizations who increased the price of their products and services are using the extra revenue for a war chest or to actually reinforce their security—realistically, it’s most likely just being used to fill a gap in lost revenue for shareholders’ sake post-breach. Without government regulations outlining restrictions on passing cost of breach to consumer, at the least, not without the honest & measurable efforts of a corporation as their custodian, what accountability do we all have against that one executive who didn’t want to change his/her password?”

Breach costs also have an increasingly long tail, as nearly half now come over a year after the date of the attack. The largest of these are generally fines that are levied after an investigation, and decisions or settlements in class action lawsuits. While the popular new “double extortion” approach of ransomware attacks can drive long-term costs in this way, the study finds that companies paying ransom demands to settle the problem quickly aren’t necessarily seeing a large amount of overall savings: their average breach cost drops by just $610,000.

Sanjay Raja, VP of Product with Gurucul, expands on how knock-on data breach damage can continue for years: “The follow-up attack effect, as described, is a significant problem as the playbooks and solutions provided to security operations teams are overly broad and lack the necessary context and response actions for proper remediation. For example, shutting down a user or application or adding a firewall block rule or quarantining a network segment to negate an attack is not a sustainable remediation step to protect an organization on an ongoing basis. It starts with a proper threat detection, investigation and response solution. Current SIEMs and XDR solutions lack the variety of data, telemetry and combined analytics to not only identify an attack campaign and even detect variants on previously successful attacks, but also provide the necessary context, accuracy and validation of the attack to build both a precise and complete response that can be trusted. This is an even greater challenge when current solutions cannot handle complex hybrid multi-cloud architectures leading to significant blind spots and false positives at the very start of the security analyst journey.”

Rising cost of data breach not necessarily prompting dramatic security action

In spite of over four out of five organizations now having experienced some sort of data breach, only slightly over 20% of critical infrastructure companies have moved to zero trust strategies to secure their networks. Cloud security is also lagging as well, with a little under half (43%) of all respondents saying that their security practices in this area are either “early stage” or do not yet exist.

Those that have onboarded security automation and AI elements are the only group seeing massive savings: their average cost of data breach is $3.05 million lower. This particular study does not track average ransom demands, but refers to Sophos research that puts the most exact number at $812,000 globally.

The study also notes serious problems with incident response plans, especially troubling in an environment in which the average ransomware attack is now carried out in four days or less and the “time to ransom” has dropped to a matter of hours in some cases. 37% of respondents say that they do not test their incident response plans regularly. 62% say that they are understaffed to meet their cybersecurity needs, and these organizations tend to suffer over half a million more dollars in damages when they are breached.

Of course, cost of data breaches is not distributed evenly by geography or by industry type. Some are taking much bigger hits than others, reflecting trends established in prior reports. The health care industry is now absorbing a little over $10 million in damage per breach, with the average cost of data breach rising by $1 million from 2021. And companies in the United States face greater data breach costs than their counterparts around the world, at over $8 million per incident.

Shawn Surber, VP of Solutions Architecture and Strategy with Tanium, provides some insight into the unique struggles that the health care industry faces in implementing effective cybersecurity: “Healthcare continues to suffer the greatest cost of breaches but has among the lowest spend on cybersecurity of any industry, despite being deemed ‘critical infrastructure.’ The increased vulnerability of healthcare organizations to cyber threats can be traced to outdated IT systems, the lack of robust security controls, and insufficient IT staff, while valuable medical and health data— and the need to pay ransoms quickly to maintain access to that data— make healthcare targets popular and relatively easy to breach. Unlike other industries that can migrate data and sunset old systems, limited IT and security budgets at healthcare orgs make migration difficult and potentially expensive, particularly when an older system provides a small but unique function or houses data necessary for compliance or research, but still doesn’t make the cut to transition to a newer system. Hackers know these weaknesses and exploit them. Additionally, healthcare orgs haven’t sufficiently updated their security strategies and the tools that manufacturers, IT software vendors, and the FDA have made haven’t been robust enough to thwart the more sophisticated techniques of threat actors.”

Familiar incident types also lead the list of the causes of data breaches: compromised credentials (19%), followed by phishing (16%). Breaches initiated by these methods also tended to be a little more costly, at an average of $4.91 million per incident.

Global average cost of #databreach is now $4.35M, up 13% since 2020. Much of that are realized more than a year after the attack, and 60% of organizations are passing the costs on to consumers in the form of higher prices. #cybersecurity #respectdataClick to Tweet

Cutting the cost of data breach

Though the numbers are never as neat and clean as averages would indicate, it would appear that the cost of data breaches is cut dramatically for companies that implement solid automated “deep learning” cybersecurity tools, zero trust systems and regularly tested incident response plans. Mature cloud security programs are also a substantial cost saver.

Mon, 01 Aug 2022 10:00:00 -0500 Scott Ikeda en-US text/html https://www.cpomagazine.com/cyber-security/ibm-annual-cost-of-data-breach-report-2022-record-costs-usually-passed-on-to-consumers-long-breach-expenses-make-up-half-of-total-damage/
Killexams : CIOReview Names Cobalt Iron Among 10 Most Promising IBM Solution Providers 2022

LAWRENCE, Kan.--(BUSINESS WIRE)--Jul 28, 2022--

Cobalt Iron Inc., a leading provider of SaaS-based enterprise data protection, today announced that the company has been deemed one of the 10 Most Promising IBM Solution Providers 2022 by CIOReview Magazine. The annual list of companies is selected by a panel of experts and members of CIOReview Magazine’s editorial board to recognize and promote innovation and entrepreneurship. A technology partner for IBM, Cobalt Iron earned the distinction based on its Compass ® enterprise SaaS backup platform for monitoring, managing, provisioning, and securing the entire enterprise backup landscape.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220728005043/en/

Cobalt Iron Compass® is a SaaS-based data protection platform leveraging strong IBM technologies for delivering a secure, modernized approach to data protection. (Graphic: Business Wire)

According to CIOReview, “Cobalt Iron has built a patented cyber-resilience technology in a SaaS model to alleviate the complexities of managing large, multivendor setups, providing an effectual humanless backup experience. This SaaS-based data protection platform, called Compass, leverages strong IBM technologies. For example, IBM Spectrum Protect is embedded into the platform from a data backup and recovery perspective. ... By combining IBM’s technologies and the intellectual property built by Cobalt Iron, the company delivers a secure, modernized approach to data protection, providing a ‘true’ software as a service.”

Through proprietary technology, the Compass data protection platform integrates with, automates, and optimizes best-of-breed technologies, including IBM Spectrum Protect, IBM FlashSystem, IBM Red Hat Linux, IBM Cloud, and IBM Cloud Object Storage. Compass enhances and extends IBM technologies by automating more than 80% of backup infrastructure operations, optimizing the backup landscape through analytics, and securing backup data, making it a valuable addition to IBM’s data protection offerings.

CIOReview also praised Compass for its simple and intuitive interface to display a consolidated view of data backups across an entire organization without logging in to every backup product instance to extract data. The machine learning-enabled platform also automates backup processes and infrastructure, and it uses open APIs to connect with ticket management systems to generate tickets automatically about any backups that need immediate attention.

To ensure the security of data backups, Cobalt Iron has developed an architecture and security feature set called Cyber Shield for 24/7 threat protection, detection, and analysis that improves ransomware responsiveness. Compass is also being enhanced to use several patented techniques that are specific to analytics and ransomware. For example, analytics-based cloud brokering of data protection operations helps enterprises make secure, efficient, and cost-effective use of their cloud infrastructures. Another patented technique — dynamic IT infrastructure optimization in response to cyberthreats — offers unique ransomware analytics and automated optimization that will enable Compass to reconfigure IT infrastructure automatically when it detects cyberthreats, such as a ransomware attack, and dynamically adjust access to backup infrastructure and data to reduce exposure.

Compass is part of IBM’s product portfolio through the IBM Passport Advantage program. Through Passport Advantage, IBM sellers, partners, and distributors around the world can sell Compass under IBM part numbers to any organizations, particularly complex enterprises, that greatly benefit from the automated data protection and anti-ransomware solutions Compass delivers.

CIOReview’s report concludes, “With such innovations, all eyes will be on Cobalt Iron for further advancements in humanless, secure data backup solutions. Cobalt Iron currently focuses on IP protection and continuous R&D to bring about additional cybersecurity-related innovations, promising a more secure future for an enterprise’s data.”

About Cobalt Iron

Cobalt Iron was founded in 2013 to bring about fundamental changes in the world’s approach to secure data protection, and today the company’s Compass ® is the world’s leading SaaS-based enterprise data protection system. Through analytics and automation, Compass enables enterprises to transform and optimize legacy backup solutions into a simple cloud-based architecture with built-in cybersecurity. Processing more than 8 million jobs a month for customers in 44 countries, Compass delivers modern data protection for enterprise customers around the world. www.cobaltiron.com

Product or service names mentioned herein are the trademarks of their respective owners.

Link to Word Doc:www.wallstcom.com/CobaltIron/220728-Cobalt_Iron-CIOReview_Top_IBM_Provider_2022.docx

Photo Link:www.wallstcom.com/CobaltIron/Cobalt_Iron_CIO_Review_Top_IBM_Solution_Provider_Award_Logo.pdf

Photo Caption: Cobalt Iron Compass ® is a SaaS-based data protection platform leveraging strong IBM technologies for delivering a secure, modernized approach to data protection.

Follow Cobalt Iron

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View source version on businesswire.com:https://www.businesswire.com/news/home/20220728005043/en/

CONTACT: Agency Contact:

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Wall Street Communications

Tel: +1 801 326 9946

Email:sunny@wallstcom.com

Web:www.wallstcom.comCobalt Iron Contact:

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VP of Marketing

Tel: +1 785 979 9461

Email:maspurlock@cobaltiron.com

Web:www.cobaltiron.com

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Thu, 28 Jul 2022 01:03:00 -0500 en text/html https://www.eagletribune.com/region/cioreview-names-cobalt-iron-among-10-most-promising-ibm-solution-providers-2022/article_56f7dda7-cbd5-586a-9d5f-f882022100da.html
Killexams : Ex IBM manager: Pay, political neglect and public indifference all to blame for cyber failings No result found, try new keyword!Paul Farrell retired as IBM Ireland’s General Manager last year but also was an officer in the Irish Defence Forces ... Sat, 30 Jul 2022 21:00:09 -0500 en-ie text/html https://www.msn.com/en-ie/news/other/ex-ibm-manager-pay-political-neglect-and-public-indifference-all-to-blame-for-cyber-failings/ar-AA108S8m Killexams : IBM 'seems to be showing it's in a position to weather' the tough economic climate: Analyst

Futurm Principal Research Analyst Daniel Newman joins Yahoo Finance Live to discuss IBM's latest earnings results and what it shows about the company amid market volatility.

Video Transcript

[MUSIC PLAYING]

SEANA SMITH: IBM shares moving lower, despite posting a 9% jump in sales. You can see the stock off just about 3% right now. Revenue for the quarter coming in at $15.5 billion. The estimate on the Street was for $15.1 billion. For more on this, we want to bring in Daniel Newman, principal analyst at Futurum Research. Daniel, it's great to see you. We certainly are seeing some concern here, at least in the aftermarket action, on the heels of these results from IBM. It looks like the strengthening dollar affecting their full year outlook. What was your big takeaway from the results that we just got?

DANIEL NEWMAN: Yeah, I'm just digesting the results, but overall, it's hard to not feel a little bit more positive, given the general negative sentiment towards growth. Last week, ServiceNow CEO Bill McDermott came out, kind of warned about the impact of 4x in the currency exchange. Markets sold hard in response to that. But overall, with the general macro conditions, I still think IBM's a bellwether, and it's showing overall strength for enterprise technology.

I've been looking at AI, Automation, Hybrid cloud, and kind of wondering if these would have a stronger lasting power in the recessionary environment. And what IBM is showing is, yes. I mean, this is a company that wasn't growing much when things were going up. And now over the last few quarters, Arvind Krishna, after the transition, the spin-off of Kyndryl, is showing that this company is getting close to double digit. And if you add constant currency, it actually is in the double digit range. So I see the market's negative, but I think this was a really good print for IBM.

RACHELLE AKUFFO: And we do know that it has been a volatile year, year to date for IBM's stock. And a lot of people are wondering, what we're really going to see some of the real fallout come when we look at the third quarter. What are your expectations, given where we are now and given these current earnings that have just come out?

DANIEL NEWMAN: Well, there's a couple of things to consider. I think the company has some parts of its business that are very cyclical, like its infrastructure business, the Z business, which is their mainframe, but it's a huge profit and revenue. And they only had one month of that business in this quarter. You saw that infrastructure number up double digits significantly this quarter. So that whole sales cycle is going to really pump into the next quarter. So I feel that's going to help.

And then if you look at the growth, like, in the cloud area, like Red Hat, I mean, you saw 12% steady double digit, but this overall result wasn't based upon any part of the business doing extraordinarily well while others were really suffering. What I see here is the post-Kyndryl environment. The company seems to be getting its product mix right. It's focused on hybrid Enterprise Cloud, partnering with the likes of AWS, as opposed to so much trying to compete with AWS. It seems to be working.

And if you're an investor and you're kind of looking at that value play, value yield, and a company that's going to be able to persevere through a tougher climate, IBM has kind of shown that, even going back as far as November, compared to a lot of the other higher growth companies. So you might be right. There might still be some tougher quarters ahead. But IBM seems to be showing it's in a good position to weather.

DAVE BRIGGS: Boy, you're right about that infrastructure number up almost 19%. Consulting up nearly 10%. It looks like across the board. Is there any weak spot at IBM? And what's your rating?

DANIEL NEWMAN: Well, as an industry and tech side, I don't rate. But what I would say, as an analyst looking at the overall business health, I think the company has actually done a really good job of diverging from those pressure areas. I think the spin-off of Kyndryl was really getting rid of something that had made growth nearly impossible, allowed Kyndryl to focus on that part of the business.

And now you see Arvind in-- as leadership, really focusing on that sort of, let's get high single and low double digit across the portfolio. I'd like to see cloud grow fast. Sorry, I'd like to see cloud grow faster to keep up with those 20s and 30s that we see from some of the hyperscalers. But I also think that's a little different for IBM. Very focused on the enterprise, very focused on consistent growth across the portfolio.

And like I said, if we're going to weather this difficult economic time, I think that slow, steady, and being of high value, helping companies automate, deploy artificial intelligence, utilize their data, and move workloads to the cloud are going to be the key elements of the more successful part of tech over the next 12 to 18 months.

SEANA SMITH: Hey, Dan, in the release, they said that they did see balanced growth across our geographies. IBM saying that in their earnings report. If we do, though, see a wider than expected slowdown-- I know you're seeing IBM is positioned relatively well. But what impact would that potentially look like on a company like IBM, and more broadly speaking, for the tech sector?

DANIEL NEWMAN: Yeah, the whole world is still playing catch-up. I think the US has been more aggressive in fiscal policy. I think that more aggressive approach has helped to start to see some of the slowdown in demand that's going to be required for us to get to the other side of this. We, of course, are seeing different policy in Europe. Of course, Asia, they're still dealing with everything from their policy to COVID shutdowns that are still slowing manufacturing.

And so, a company that's as globally distributed as IBM has risks across the world. And of course, we're seeing that with forex right now and in the raise in terms of impact that they noted in this particular print. Having said that, the-- I actually had a chance to talk to Arvind Krishna. I believe it was last quarter. And he actually said the most protected line item in any enterprise's budget is going to be IT.

And that really resonated with me that right now, companies that are going to see their way through this challenging economic environment are going to have to, quote unquote, "tech" their way out of it. They're going to have to make investments in things like automation and AI to make workforces more efficient, to slow down CapEx spending, and of course, to rightsize workforces, which is going to be something that is likely going to have to happen, if we're going to work our way through a recessionary period.

DAVE BRIGGS: Quite the report. Futurum Research principal analyst Dan Newman, appreciate that, sir. Thank you.

Mon, 18 Jul 2022 09:33:00 -0500 en-CA text/html https://ca.finance.yahoo.com/video/ibm-seems-showing-position-weather-205656041.html
Killexams : Railway Cyber Security Solution Market 2022 Trends Evaluation, Segmentation, Challenges, And Opportunities Analysis Till 2030

The MarketWatch News Department was not involved in the creation of this content.

Aug 04, 2022 (Alliance News via COMTEX) -- Key Companies Covered in the Railway Cyber Security Solution Research are Thales Group, Alstom, Siemens, Bombardier, General Electric (WabTec), Nokia Networks, Hitachi, IBM, Cisco, United Technologies and other key market players.

The global Railway Cyber Security Solution market size will reach USD million in 2030, growing at a CAGR of % during the analysis period.

As the global economy recovers in 2021 and the supply of the industrial chain improves, the Railway Cyber Security Solution market will undergo major changes. According to the latest research, the market size of the Railway Cyber Security Solution industry in 2021 will increase by USD million compared to 2020, with a growth rate of %.

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The global Railway Cyber Security Solution industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.

The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global Railway Cyber Security Solution market during the next few years.

Highlights-Regions

The Railway Cyber Security Solution market can be split based on product types, major applications, and important regions as follows:

North America
Europe
Asia Pacific
Latin America

Types list
Data Protection
End Point Protection
System Administration
Others

Application list
Private Railway
Public Railway

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Table of Content:

  • Market Definition and Overview
  • Research Method and Logic
  • Market Competition Analysis
  • Product and Service Analysis
  • Strategies for Company to Deal with the Impact of COVID-19
  • Market Segment by Type, Historical Data and Market Forecasts
  • Market Segment by Application, Historical Data and Market Forecasts
  • Market by by Region, Historical Data and Market Forecasts
  • Market Dynamic Analysis and Development Suggestions

List of Factors Covered in the Report are:
Major Strategic Developments:The report abides by quality and quantity. It covers the major strategic market developments, including R&D, M&A, agreements, new products launch, collaborations, partnerships, joint ventures, and geographical expansion, accompanied by a list of the prominent industry players thriving in the market on a national and international level.

Key Market Features:
Major subjects like revenue, capacity, price, rate, production rate, gross production, capacity utilization, consumption, cost, CAGR, import/export, supply/demand, market share, and gross margin are all assessed in the research and mentioned in the study. It also documents a thorough analysis of the most important market factors and their most exact developments, combined with the pertinent market segments and sub-segments.

List of Highlights & Approach
The report is made using a variety of efficient analytical methodologies that offers readers an in-depth research and evaluation on the leading market players and comprehensive insight on what place they are holding within the industry. Analytical techniques, such as Porter's five forces analysis, feasibility studies, SWOT analyses, and ROI analyses, are put to use to examine the development of the major market players.

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  • The Market analysis of the market share of the can prove beneficial in terms of profit to the industry's participants and stakeholders.

Key Questions Answered in the Market Report

  • Which Manufacturing Technology is used for Market? What Developments Are Going on in That Technology?
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  • What's Market Analysis of Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Market Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit?
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COMTEX_411577896/2796/2022-08-04T08:47:32

The MarketWatch News Department was not involved in the creation of this content.

Thu, 04 Aug 2022 00:47:00 -0500 en-US text/html https://www.marketwatch.com/press-release/railway-cyber-security-solution-market-2022-trends-evaluation-segmentation-challenges-and-opportunities-analysis-till-2030-2022-08-04
Killexams : 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 get 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

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SOURCE IBM

Tue, 26 Jul 2022 16:01:00 -0500 en text/html https://www.prnewswire.co.uk/news-releases/ibm-report-consumers-pay-the-price-as-data-breach-costs-reach-all-time-high-877600169.html
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