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Four Ways Security Analytics Can Improve Business Performance

  • Four Ways Security Analytics Can Improve Business Performance-

    Remember that an Analytic is more than a Metric; it provides insights that help the business make decisions. The key difference is that analytics slice and dice the data on an ad-hoc basis in real time or near real time. Metrics, on the other hand, represent numeric information generated by calculations often derived from aggregating vast amounts of data from multiple sources, such as logs, events or transaction data. A metric that is the result of a calculation does not, in and of itself, provide insights.

    Make sure security analytics are aligned to the overall organization risk framework. For example, if a key performance indictor (KPI) is based on the number of orders, then revenue affected on orders lost due to security incidents could be a metric of interest to both security teams and the business. The need to present security analytics in terms management can understand and act on is more urgent than ever – and the security analytic model needs to be built in a way that aligns with how the business views risk.

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Four Ways Security Analytics Can Improve Business Performance

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  • Four Ways Security Analytics Can Improve Business Performance-2

    Remember that an Analytic is more than a Metric; it provides insights that help the business make decisions. The key difference is that analytics slice and dice the data on an ad-hoc basis in real time or near real time. Metrics, on the other hand, represent numeric information generated by calculations often derived from aggregating vast amounts of data from multiple sources, such as logs, events or transaction data. A metric that is the result of a calculation does not, in and of itself, provide insights.

    Make sure security analytics are aligned to the overall organization risk framework. For example, if a key performance indictor (KPI) is based on the number of orders, then revenue affected on orders lost due to security incidents could be a metric of interest to both security teams and the business. The need to present security analytics in terms management can understand and act on is more urgent than ever – and the security analytic model needs to be built in a way that aligns with how the business views risk.

Security analytics and metrics are as important to the business as any other key performance indicator - such as liquidity, cash flow, or growth in sales or revenue. Today, more boards and leadership teams are demanding that key security analytics and metrics be included in the operational risk portfolio. This puts pressure on security teams to provide analysis and insights that give management the risk intelligence they need to drive better performance.

Security analytics, when properly designed and implemented, can deliver much-needed insights in mapping the size, scale and scope of risks. Analytics can provide a basis for root cause analysis and remediation strategies across policies, processes and, ultimately, investments in technologies. But what’s the best way to do this in a world where the volume, complexity, velocity, variety and veracity of unstructured and structured data makes the task of identifying risks with traditional security monitoring systems cumbersome? We are seeing transformation in the way security programs are tackling the identification and analysis of risk. Yo Delmar, vice president of GRC solutions at MetricStream, has identified four key ways security analytics can be used to improve business performance.