At its core, the goal of cyber security is reducing risk to your organization. There are many different approaches to cyber security, but one that should not go overlooked is the use of analytics.
Data analysis in cyber security — also known as security or cyber analytics — is a method for addressing cyber security threats. It combines internal and possibly external data with statistical models, machine learning, and analysis. Companies that apply analytics in cyber security use data analysis to detect threats and identify cyber security breaches as soon as possible if they occur. It’s a more proactive cyber security approach than traditional measures and can help businesses address the growing threat of advanced cyber attacks.
If you’re not convinced of the value of analytics in cyber security, here are some of the main benefits security analytics can provide to your business:
Gain Visibility into Threats
The process of developing security measures generally starts with identifying possible threats to your security. While you can manually brainstorm some likely cyber security threats to your organization, data analysis gives you much greater visibility into potential threats.
Using various data streams from inside and outside your organization, tools from cloud analytics companies can determine which cyber security threats are most likely to affect your business. The tools detect risk and offer actionable insights to help protect against likely threats. Keep in mind that the number of IT security risks only grows every year. Malware and hackers may be what comes to mind when most people think of cyber threats, but there’s significant variation in the threats your organization might face.
It’s vital to get a big-picture view of your enterprise so you can anticipate the wide variety of possible attacks. A central command center within your security analytics tool will help you monitor real-time and historical data to give a complete picture of events. You’ll be better equipped to plan for cyber security attacks and make informed decisions if they do occur.
Predict Attacks with Analytics
Step one in cyber analytics is often establishing a baseline for normal activity within your organization. If activity deviates from that baseline, that’s an indication that you may be facing a cyber attack. Data analysis tools can monitor activity in your company in real-time and alert you immediately if there are any variations, giving you a heads-up about imminent attacks.
The difference between noticing and addressing a breach immediately and only catching it after minutes, hours, or even days have gone by is immense. Every second counts when you’re dealing with cyber attacks. Data analysis helps you predict and detect attacks immediately, reducing the impact of these attacks on your organization.
Save Time and Money with Analytics
Cyber security budgets vary widely by industry and company, but businesses typically spend between 5% and 15% of their annual IT budgets on cyber security measures. That can add up to millions or even tens of millions of dollars annually. Analytics in cyber security offers a way to bring down those costs and save your business time, too.
Advanced cyber security tools from cloud analytics companies are often more affordable, efficient solutions compared to maintaining a large cyber security team. That’s not to say you won’t still need a team of experienced cyber security professionals, but cyber analytics will complete tedious analytical tasks much faster and boost their productivity levels. You save money and get more out of your cyber security team — it’s a win-win.
The main way security analytics saves you money, though, is likely by preventing costly cyber attacks. On average in the US, a single data breach will cost your business over $9 million dollars. The price tag associated with data analysis tools from top cloud analytics companies pales in comparison to the cost of these breaches. By proactively identifying possible threats and reacting to breaches as soon as possible, data analytics will help bring down your financial risk associated with cyber attacks.
Use Cases for Analytics in Cyber Security
You can apply data analytics to your company’s cyber security efforts in several ways. Some of the most common data analytics applications in cyber security are:
- Threat Hunting: Threat hunting is a proactive cyber security approach that aggregates and analyzes data including network traffic, IP addresses, and threat intelligence. This process helps you find potential threats before they affect your organization.
- Threat Investigation: Unlike threat hunting, threat investigation occurs after you have received a cyber security alert. It involves analyzing your data to identify the source of the issue and what needs to be done to address it.
- Forensics: If a security incident does occur, you can use analytics for forensic purposes to understand what happened during the attack. Using data like user access, timing, and geographic locations for users in your system, you can determine the extent and fallout of the attack.
- Compliance: To pass your audits, you will likely need to provide documents that show you’re properly managing your security and adhering to all applicable security regulations. Analytics tools can provide the data and visualizations necessary to prove that your business is in full compliance with these regulations.
Using Analytics Tools for Safety and Security
As cyber attacks become more frequent and complex, organizations need to be proactive in their cyber security measures. Data analytics in cyber security is the way forward. It offers you visibility into the cyber threats facing your business and a way to effectively respond to attacks in real-time if they occur.
Live Earth is one of the cloud analytics companies changing the way companies handle cyber security. The Live Earth platform includes a unified command center where you can integrate disparate data, monitor vast amounts of data in real-time, and gain a better picture of security within your organization. Your teams can also easily set up alerts so they know in real-time if there’s a threat they need to address. Learn more about the ways Live Earth can protect your enterprise by scheduling a free demo today.