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Visualizing the Massive Cost of Cybercrime

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Visualizing the Massive Cost of Cybercrime

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What do Equifax, Yahoo, and the U.S. military have in common? They’ve all fallen victim to a cyberattack at some point in the last decade—and they’re just the tip of the iceberg.

Today’s infographic from Raconteur delves into the average damage caused by cyberattacks at the organizational level, sorted by type of attack, industry, and country.

Rising Cybercrime Costs Across the Board

The infographic focuses on data from the latest Accenture “Cost of Cybercrime” study, which details how cyber threats are evolving in a fast-paced digital landscape.

Overall, the average annual cost to organizations has been ballooning for all types of cyberattacks. For example, a single malware attack in 2018 costed more than $2.6 million, while ransomware costs rose the most between 2017–2018, from $533,000 to $646,000 (a 21% increase).

Both information loss and business disruption occurring from attacks have been found to be the major cost drivers, regardless of the type of attack:

  • Malware
    Major consequence: Information Loss
    Average cost: $1.4M (54% of total losses)
  • Web-based attacks
    Major consequence: Information Loss
    Average cost: $1.4M (61% of total losses)
  • Denial-of-Service (DOS)
    Major consequence: Business Disruption
    Average cost: $1.1M (65% of total losses)
  • Malicious insiders
    Major consequences: Business Disruption and Information Loss
    Average cost: $1.2M ($0.6M each, 75% of total losses)

In 2018, information loss and business disruption combined for over 75% of total business losses from cybercrime.

Cybercrime Casts a Wide Net

No industry is untouched by the growing cost of cybercrime—the report notes that organizations have seen security breaches grow by 67% in the past five years alone. Banking is the most affected, with annual costs crossing $18 million in 2018. This probably comes as no surprise, considering that financial motives are consistently a major incentive for hackers.

Here is the average cost of cyberattacks (per organization) across 15 different industries:

Industry2017 Cost2018 Cost% Change
Banking$16.6M$18.4M+11%
Utilities$15.1M$17.8M+18%
Software$14.5M$16M+11%
Automotive$10.7M$15.8M+47%
Insurance$12.9M$15.8M+22%
High tech$12.9M$14.7M+14%
Capital markets$10.6M$13.9M+32%
Energy$13.2M$13.8M+4%
U.S. Federal$10.4M$13.7M+32%
Consumer goods$8.1M$11.9M+47%
Health$12.9M$11.8M-8%
Retail$9M$11.4M+26%
Life sciences$5.9M$10.9M+86%
Media$7.6M$9.2M+22%
Travel$4.6M$8.2M+77%
Public sector$6.6M$7.9M+20%

Interestingly, the impact on life sciences companies rose the most in a year (up by 86% to $10.9 million per organization), followed by the travel industry (up 77% to $8.2 million per organization). This is likely due to an increase in sensitive and valuable data being shared online, such as clinical trial details or credit card information.

So What Can Companies Do?

Accenture analyzed nine cutting-edge technologies that are helping mitigate cybercrime, and calculated their net savings: the total potential savings minus the required investment in each type of technology or tool.

With almost $2.3 million in net savings, many companies recognize the high payoff that comes with security intelligence. On the other hand, leveraging automation, artificial intelligence, and machine learning can potentially save over $2 million—however, only 38% of businesses have adopted this solution so far.

Cybercrime will remain a large-scale concern for years to come. From 2019–2023E, approximately $5.2 trillion in global value will be at risk from cyberattacks, creating an ongoing challenge for corporations and investors alike.

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Misc

The Most Popular Wikipedia Pages, 2007-2019

Millions flock to Wikipedia every day to satisfy their curiosity on every imaginable topic. What have been the most popular Wikipedia pages over time?

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The Most Popular Wikipedia Pages, From 2007-2019

Where do you go to satisfy your curiosity about the world? Chances are, most people would turn to Google, where the first search result for virtually any topic is likely to be Wikipedia.

Wikipedia often acts as a quick-and-dirty first source of information—and today’s intriguing animation from Data Geek shows what people are reading about the most. The video highlights more than a decade of the most popular pages on Wikipedia, sorted by total monthly views.

Which topics of interest race to the top?

Note to readers: Page view statistics are only for the English version of Wikipedia, which has nearly 6 million total articles to date.

A One-Stop Shop of Information

Since its 2001 inception, Wikipedia has thrived as an open collaboration project, catapulting it into the ranks of the world’s top websites today. Over the years, the upper limit of views for the most popular pages has dramatically increased.

In 2008, the most popular Wikipedia page belonged to Barack Obama, during his U.S. Presidential campaign, garnering about 3 million views per month. By 2019, the page for the United States took its place at the top, this time soaring to nearly 200 million monthly views.

The 12 most popular Wikipedia pages fluctuate in category, with some expected winners. Throughout the years, World War II shows up consistently in the rankings, likely propelled by research for school assignments.

The U.S. is another undisputed, most-viewed page for nine years in a row (2011-2019). Following the November 2016 U.S. election, pageviews for Donald Trump also leapt into the top three.

Here’s how the most popular pages shake out over a decade:

RankJan 2008Jan 2012Jan 2016Jan 2019
#1Barack ObamaU.S.U.S.U.S.
#2U.S.Lady GagaBarack ObamaDonald Trump
#3Harry PotterThe BeatlesIndiaBarack Obama
#4World War IIBarack ObamaLady GagaIndia
#5Kim KardashianMichael JacksonMichael JacksonWorld War II
#6Britney SpearsIndiaWorld War IIMichael Jackson
#7Miley CyrusEminemGame of ThronesUK
#8SexUKEminemLady Gaga
#9Lil WayneLil WayneUKEminem
#10IndiaWorld War IIThe BeatlesGame of Thrones
#11Will SmithGlee (TV)Justin BieberElizabeth II
#12UKJustin BieberAdolf HitlerAdolf Hitler

Musicians also regularly top the charts, thanks to their illustrious careers and the public’s curiosity about their private lives. Michael Jackson holds a record for longest best-selling artist, but also for one of the most viewed Wikipedia pages, especially after his death in mid-2009.

A Crowdsourced Snapshot of the World

These popular Wikipedia pages provide an interesting angle on current events of the time, although it should be taken with a grain of salt.

For example, the 2008 financial crisis is arguably one of the biggest events of this decade—yet it doesn’t make an appearance in these most viewed pages. One possible reason is that more reputable sources of information exist about the event, as it was widely covered in the media.

Nevertheless, Wikipedia’s mission is to freely share knowledge, relying on over 250,000 monthly volunteers to keep its information accessible by anyone.

Breaking Down Barriers

Boasting over 50 million articles, it’s not hard to see why Wikipedia has reigned supreme as a crowdsourced catalog of information. However, a lesser known fact is that just one man is responsible for a significant chunk of the website’s English-language articles.

In 2017, Steven Pruitt was named one of Time Magazine’s “most influential people on the Internet” for making over 3 million edits and authoring 35,000 original pages on Wikipedia—all for free.

Pruitt is even helping to solve Wikipedia’s gender bias, and has expanded the share of biographical articles about women from 15% to 17.6% in a few short years.

I’m very conscious of what it can mean to make knowledge free, to make information free.

—Steven Pruitt

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Animation: How Tech is Eating the Brand World

Changing consumer expectations have created a harsh environment for traditional brands to operate in—will tech companies make them obsolete?

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How Technology is Eating the Brand World

Building a brand with an imperishable competitive edge can be difficult.

Technology companies however, are redefining what that edge means. By hastily responding to emerging consumer needs and leveraging the power of brand, these companies can continuously create meaningful solutions for real problems with scale.

Today’s animated chart highlights the most valuable brands in 2019 versus 2001, according to the annual “Best Global Brands” ranking by Interbrand. It illustrates the degree to which technology companies have been able to scale into massive brands over a short time frame, supplanting some of the best known companies in the world.

What is Brand Value, and How is it Measured?

Interbrand has created and consistently used a robust formula to measure brand value. Brand value is the Net Present Value (NPV) or the present value of the earnings that a brand is forecasted to generate in the future.

The formula evaluates brands based on their financial forecast, brand role, and brand strength. The full methodology can be found here.

Tech Reigns Supreme

In 2001, the cumulative brand value was $988 billion. Today, that value stands at $2.1 trillion and represents an average CAGR of 4.4%. Over the years, global tech giants have swiftly climbed the ranks, and now represent a significant amount of the total brand value.

In fact, with a combined brand value of almost $700 billion, tech companies account for half of the top 10 most valuable brands in the world. Perhaps unsurprisingly, Apple holds the title for the world’s most valuable brand in 2019—for the seventh year running.

Only 31 brands from the 2001 ranking remain on the Best Global Brands list today, including Disney, Nike, and Gucci. Coca-Cola and Microsoft are the few who have remained in the top 10.

Below is the full list of the world’s most valuable brands:

RankBrandBrand Value ($B)1-Yr Value ChangeIndustry
#1Apple$234B9%Technology
#2Google$168B8%Technology
#3Amazon$125B24%Technology
#4Microsoft$108B17%Technology
#5Coca-Cola$63B-4%Beverages
#6Samsung$61B2%Technology
#7Toyota$56B5%Automotive
#8Mercedes Benz$51B4%Automotive
#9McDonald’s$45B4%Restaurants
#10Disney$44B11%Entertainment
#11BMW$41B1%Automotive
#12IBM$40B-6%Business Services
#13Intel40B-7%Technology
#14Facebook$40B-12%Technology
#15Cisco$35B3%Business Services
#16Nike$32B7%Retail
#17Louis Vuitton$32B14%Retail
#18Oracle$26B1%Business Services
#19General Electric$25B22%Diversified
#20SAP$25B10%Business Services
#21Honda$24B3%Automotive
#22Chanel$22B11%Retail
#23American Express$22B13%Technology
#24Pepsi$20B-1%Beverages
#25J.P Morgan$19B8%Finance
#26Ikea$18B5%Retail
#27UPS$18B7%Logistics
#28Hermes$18B9%Retail
#29Zara$17B-3%Retail
#30H&M$16B-3%Retail
#31Accenture$16B14%Business Services
#32Budweiser$16B3%Alcohol
#33Gucci$16B23%Retail
#34Pampers$16B-5%FMCG
#35Ford$14B2%Automotive
#36Hyundai$14B5%Automotive
#37Gillette$14B-18%FMCG
#38Nescafe$14B4%Beverages
#39Adobe$13B20%Technology
#40Volkswagen$13B6%Automotive
#41Citi$13B10%Financial Services
#42Audi$13B4%Automotive
#43Allianz$12B12%Insurance
#44ebay$12B-8%
#45Adidas$12B11%Fashion
#46Axa$12B6%Insurance
#47HSBC$12B5%Finance
#48Starbucks$12B23%Restaurants
#49Philips$12B-4%Electronics
#50Porsche$12B9%Automotive
#51L’oreal$11B4%FMCG
#52Nissan$11B-6%Automotive
#53Goldman Sachs$11B-4%Finance
#54Hewlett Packard$11B4%Technology
#55Visa$11B19%Technology
#56Sony$10B13%Technology
#57Kelloggs$10B-2%FMCG
#58Siemens$10B1%Technology
#59Danone$10B4%FMCG
#60Nestle$9B7%Beverages
#61Canon$9B-9%Technology
#62Mastercard$9B25%Technology
#63Dell Technologies$9BNewTechnology
#643M$9B-1%Technology
#65Netflix$9B10%Entertainment
#66Colgate$9B2%FMCG
#67Santander$8B13%Finance
#68Cartier$8B7%Luxury
#69Morgan Stanley$8B-7%Finance
#70Salesforce$8B24%Technology
#71Hewlett Packard Enterprise$8B-3%Technology
#72PayPal$8B15%Technology
#73FedEx$7B2%Logistics
#74Huawei$7B-9%Technology
#75Lego$7B5%FMCG
#76Caterpillar$7B19%Diversified
#77Ferrari$6B12%Automotive
#78Kia$6B-7%Automotive
#79Corona$6B15%Alcohol
#80Jack Daniels$6B13%Alcohol
#81Panasonic$6B-2%Technology
#82Dior$6B16%Fashion
#83DHL$6B2%Logistics
#84John Deere$6B9%Diversified
#85Land Rover$6B-6%Automotive
#86Johnson & Johnson$6B-8%Retail
#87Uber$6BNewTechnology
#88Heineken$5,6264%Alcohol
#89Nintendo$6B18%Entertainment
#90MINI$5B5%Automotive
#91Discovery$5B-4%Entertainment
#92Spotify$5B7%Technology
#93KFC$5B1%Restaurants
#94Tiffany & Co$5B-5%Fashion
#95Hennessy$5B12%Alcohol
#96Burberry$5B4%Fashion
#97Shell$5B-3%Energy
#98LinkedIn$5BNewTechnology
#99Harley Davidson$5B-7%Automotive
#100Prada$5B-1%Fashion

Since 2001—the first year the report featured 100 brands—several tech companies have joined and climbed their way to the top of the list, while 137 notable brands dropped off entirely, including Nokia and MTV.

In an interesting turn of events, Facebook dropped out of the top 10, and into 14th place after a volatile year. The move however, is not surprising. The tech giant has been mired in controversies, ranging from data privacy issues to prioritizing political influence.

Which Brands Are Growing the Fastest?

2019’s fastest growing brands also signals tech domination, with Mastercard, Salesforce and Amazon leading the charge.

The companies in this ranking experienced a significant increase in their brand value year-over-year (YoY).

RankBrandBrand Value ($B)YoY Growth
#1Mastercard$9B25%
#2Salesforce$8B24%
#3Amazon$125B24%
#4Gucci$16B23%
#5Starbucks$12B23%
#6Adobe$13B20%
#7Visa$11B19%
#8Caterpillar$7B19%
#9Nintendo$5B18%
#10Microsoft$109B17%

According to Interbrand, the success of these brands may be attributed to their ability to anticipate rapidly changing customer expectations.

While the relationship between business performance and brand equity has been a widely debated topic for decades, it is clear that customer satisfaction bolsters brand equity, and encourages impressive financial results.

Disrupt, or Be Disrupted

Beyond anticipating changing needs, some of the most successful brands also cater to a younger customer base. This is the most evident in luxury and retail—the two fastest growing sectors for the second consecutive year.

This audience is tech-first in their buying habits and increasingly demand more elevated and shareable experiences. As a result, traditional brands across all sectors are innovating to keep up with this audience, and some are essentially becoming tech companies in the process.

For example, Gucci attributes their success to finding the perfect blend between creativity and technology. The company that once relied on its heritage, now focuses heavily on ecommerce and social media to engage with their Gen Z customers.

Similarly, Walmart recently announced that they are employing virtual reality headsets and machine-learning-powered robots in an attempt to compete with Amazon.

Will traditional companies ultimately become tech companies, or simply get eaten alive?

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