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Four Ways Security Analytics Can Improve Business Performance

  • Four Ways Security Analytics Can Improve Business Performance-

    Use security analytics to tell a story that the business can relate to. Share examples of the cost of recent breaches or incidents in your industry and describe the impact in terms that business and risk managers can understand – real business impact – ‘customers were not able to submit online orders for 10 hours’ and/or probable loss magnitudes – ‘the costs to remediate will likely reach $100m given the number of people affected.’  Use security analytics to show trends of increasing exploits against key assets, and demonstrate how your security program has effectively protected sensitive or regulated data and critical business processes. Keep telling the story of how your security program is delivering value. Provide insights backed up by analytics, and use them to justify changes to corporate policy, implementation of stronger controls, and an investment in key monitoring technologies such as identity management and access control.

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Four Ways Security Analytics Can Improve Business Performance

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  • Four Ways Security Analytics Can Improve Business Performance-3

    Use security analytics to tell a story that the business can relate to. Share examples of the cost of recent breaches or incidents in your industry and describe the impact in terms that business and risk managers can understand – real business impact – ‘customers were not able to submit online orders for 10 hours’ and/or probable loss magnitudes – ‘the costs to remediate will likely reach $100m given the number of people affected.’  Use security analytics to show trends of increasing exploits against key assets, and demonstrate how your security program has effectively protected sensitive or regulated data and critical business processes. Keep telling the story of how your security program is delivering value. Provide insights backed up by analytics, and use them to justify changes to corporate policy, implementation of stronger controls, and an investment in key monitoring technologies such as identity management and access control.

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.