Could Yahoo!'s security breach indicate a larger issue?
Last week, Yahoo! admitted that in 2014, a wide-scale cyber security breach occurred, affecting 500 million users.
This issue has only just been made public; names, phone numbers, e-mail addresses, and passwords were stolen in what may be the biggest public cyber security hack ever. No payment information was taken, but queries regarding why Yahoo! has taken so long to recommend that users change their passwords are prevalent, and the company referring to the incident as a ‘state-sponsored’ hack raises yet more questions.
Mark Skilton, a Professor of Practice at Warwick Business School and an expert on cyber security, said of the case:
"While it's not a surprise to hear the magnitude of users that have been corporate hacked - after all the rise of the digital business means everyone is more or less online these days - what is shocking is the date, 2014, and the sense of resignation that some may have to the event. This is far too late for professional cyber security risk management and certainly from the organisational practices inside a company like Yahoo! that one would expect.
"The other factor is the legal impact for Yahoo! from the reputational impact and liability in losses for customers. This could yet be significant and a headache for Verizon in its planned imminent takeover of Yahoo!
"The lateness of the attack discovery, a whole two years, and the indication that it was a government state sponsored attack suggests both a highly professional stealth attack or perhaps some failure in basic perimeter monitoring by Yahoo!'s internal security practice.
"Either way, serious questions on internal checking of data breaches must be addressed. There will be a significant internal review in Yahoo! and Verizon to develop a turnaround plan for this hack, but it also suggests a need for a stronger perhaps government and industry role needed to increase cyber protection in the light of the rise in more stealth attacks.
"The infamous Russian bank stealth attack had a similar slow burn attack from an undetected stealth attack that resulted in an estimated 1 billion euro loss from several banks.
"This Yahoo! situation is not that level of financial loss, but the impact and rise of huge cyber-attacks will need stronger cyber responses."
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Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.