Nick Wyatt, Head of Tourism at GlobalData, a leading data and analytics company, offers his view on how the company can turn the disaster into a positive:
Marriott cannot afford for this to happen again and so must now invest very heavily in improved detection and response-based technologies such as deception-based solutions, endpoint detection and response, software defined segmentation, and behavior analytics.
GlobalData forecasts that by 2021, global cybersecurity products and services revenues are expected to reach US$140bn, up from US$114bn in 2017 and breaches like this present a great opportunity for cybersecurity consultants like Accenture, IBM, KPMG, PwC, FireEye, Herjavec Group, and Root9B. Other hotel companies cannot afford to ignore this issue and these companies can profit greatly as a result.
In the more immediate term, Marriott must show that it is employing post-breach consultants to help take all actions possible to protect critical digital assets. Such firms will also look to identify the characteristics of the hackers in a bid to pre-empt further attacks. If Marriott can demonstrate that it is using such services, its claims of reducing future data security risks will have far more credibility.
Marriott has a chance to repair the reputational damage inflicted by shaping the future for the better and being seen as the catalyst for improved industry standard systems would be a great fillip. It must seize this opportunity to turn a great negative into a positive.
4,000 of the world”s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData”s unique data, expert analysis and innovative solutions, all in one platform. GlobalData”s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.