IBM Managed Security Services (MSS) monitors tens of billions of events per day for more than 3,700 clients in more than 130 countries, 24 hours a day, and 365 days a year. While analyzing threats is critically important, it is only part of the story. This report is intended to ask the follow-up questions. How many attacks turn into incidents? What measures could have stopped them? And how do these trends vary from industry to industry? The results and data reflected in this paper, were presented at the IBM Pulse conference on March 4, 2013.