Why is an effective cyber threat intelligence platform important? Cyber analytics, network monitoring, and penetration testing comprise a three point solution in defending cyber threats. When organizations implement all three, they have a much better posture when it comes to cyber and a more proactive approach when implementing the cyber analytics portion of it.
Cyber Threats Are Evolving Rapidly
Defending against cyber threats is becoming increasingly difficult. When you don’t implement the three point approach, you’re at a much greater disadvantage than organizations that do. Cyber analytics is where you’re fusing various data sources together to perform intelligence analysis. This can help provide answers to questions that you either didn’t know to ask or weren’t able to previously answer.
This is typically done with the combination of a very flexible platform that can perform these advanced analytics and human analysts looking at the data. An effective cyber threat intelligence platform can help detect infiltrations faster and provide your organization with a more proactive approach to solving them.
The Institutional Cost of Cyber Attacks is in the Billions
Organizations lose billions of dollars each year due to cyber-attacks. The sheer amount of sensitive data that’s openly available on the web today is making it increasingly difficult to combat these cyber threats. The benefits of using a cyber threat intelligence platform can drastically outweigh the danger of not doing so. Per the 2013 Costs of Cyber Crime Study by the Ponemon Institute, the average cost of a cyber-attack is more than $1,000,000 and takes 32 days to resolve. So that’s more than $32,000 per day to find and resolve a typical cyber-attack.
The figure below shows annualized costs of cyber crime. The median in 2013 was $9.1m, an increase from $6.2m in 2012.
So, a key question is: what if you could actually reduce the number of successful attacks per year? Maybe your organization is facing 10 attacks on an annual basis and you want to get that number down to 5. Or, what if you want to reduce the time it takes to effectively resolve an attack from 32 days to 15. Those are worthy goals for a cyber initiative which could lead to millions of dollars in savings and a significant return on investment.
Identify the Key Problems You Want to Solve with your Cyber Threat Intelligence Platform
So the first step is to identify the key problem you want to solve when implementing your cyber threat intelligence platform. Whether it’s reducing the volume of successful attacks or reducing the time to resolve them, you have to calculate the impact that volume and resolution time have on your business.
Second, if you aren’t currently utilizing the three point cyber approach, you should seriously consider implementing that. For instance, you may be doing penetration testing and network monitoring, but not cyber analytics. Look at adding cyber analytics to your approach to become more proactive.
Always consider the financial realities of your problem – if you’ve got a million dollar a year problem, but it costs $3 million to implement a solution – that solution is fiscally untenable. Even if it makes financial sense, you want your solution to be flexible – due to the changing nature of threats, scalable – in order to manage the growth of your organization’s data and finally, it should fit well in your business environment in order to solve the problems that are specific to your business.