Data-Driven SMBs, Compliance, FBI LockBit Recovery, CISA Snowflake Warning, & Phishing Prevention

On this episode of the podcast, Dave Sobel discusses three key topics. Firstly, he highlights a study by Amazon Web Services that shows small businesses who are highly data-driven tend to outperform their peers financially and operationally. The report reveals that these data-driven companies have a more mature data strategy and are more likely to adopt AI technologies, leading to significant improvements in various business outcomes.Moving on, Sobel addresses the challenges faced by managed service providers in maintaining security compliance for their clients. A survey indicates that 85% of MSPs struggle with security compliance due to factors like lack of resources, expertise, or technology. The report suggests that automation platforms could be the solution to delivering compliance services efficiently and potentially driving business growth in this area.The episode also touches upon recent cybersecurity developments, such as the FBI's recovery of over 7,000 LockBit decryption keys to help victims of ransomware attacks. Additionally, the U.S. Cybersecurity and Infrastructure Security Agency issued a warning about cyber attacks targeting Snowflake customers. Sobel emphasizes the importance of staying informed about such threats and taking proactive measures to protect data and systems.Lastly, Sobel discusses the effectiveness of phishing training in improving security awareness among employees. He highlights a report showing that organizations integrating simulated phishing attempts with security awareness training experience a significant drop in employees' susceptibility to phishing attacks. This underscores the importance of ongoing training and testing to enhance cybersecurity defenses within organizations. Three things to know today00:00 AWS Study Shows Data-Driven SMBs Achieve Greater Financial Success and Efficiency03:57 85% of Managed Service Providers Struggle with Security Compliance, Automation as a Solution05:15 FBI's LockBit Recovery, CISA's Snowflake Warning, and Phishing Prevention   Supported by:  https://www.huntress.com/mspradio/https://getinsync.ca/mspradio/ All our Sponsors:   https://businessof.tech/sponsors/    All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessoftech.bsky.social