Five Key Cybersecurity Metrics To Monitor In 2022
Cyber insecurity has become a big concern, with hacking cases escalating every day. Today hackers are sharper, more equipped, and can effortlessly break into the most secure of networks. Failure to implement a comprehensive cybersecurity strategy can risk massive financial losses. For this reason, CSOs and IT managers should establish ways to explain to boards and decision makers why cybersecurity is critical. Also what value it brings to a business. With that said, here are five crucial cybersecurity metrics you need to monitor and present in 2022 to justify further investment into cybersecurity measures;
1. Mean Time to Detect and Mean Time to Respond
The mean time to detect and mean time to respond highlights the organization’s preparedness and capacity to identify and contain potential cybersecurity threats. Slow detection and response times can leave a company vulnerable and provide a prime target for hackers. If a company’s security mechanisms cannot detect and contain threats early, a business can experience massive financial losses. No worthy business leader would willingly allow an enterprise to operate at a deficit, if it can be prevented.
Providing management or a board with a graphical representation of the cybersecurity situation can help validate cybersecurity investment. Ideally, collect and plot incidents. Explain severity levels. Highlight response and remediation times, to demonstrate whether the company requires advanced tools or current tools are providing optimum protection. The primary goal is to protect a business’s intellectual property by improving existing cybersecurity mechanisms and systems.
2. Systems With Known Vulnerabilities
Establishing the number of systems in an organization with known vulnerabilities is another critical cybersecurity metric to monitor. Identify these assets by performing a vulnerability scan using available programs. Vulnerable systems and software must be patched with the latest security updates to avoid loopholes that online intruders might use to attack a company or organization. Most software developers release patches and updates to help fix minor bugs and seal security loopholes. However, managing and monitoring these patches can be complicated since they require one to be consistently on the lookout.
Fortunately, you can check patch release dates of individual applications, programs, operating systems, and other software by visiting a developer’s website. Enforcing a vulnerability management program is also another excellent idea to deal with potential threats. Promptly patching and updating vulnerable applications, operating systems, and tools demonstrates that you are on top of the game and all systems are up to date with the latest security patches.
3. Detected Hacking Attempts
Another cybersecurity metric worth checking is the number of detected hacking attempts. Stats displaying intrusion attempts can confirm if a company has and will continue to be a target for hackers. This gives a picture of the number of threats a business is likely to face. If the current security mechanisms are working and threats are minimal, a board and management may assume a company is no longer a prime target. However, nothing could be further from the truth.
Hackers are cunning individuals, and can make a point to attack when least expected it and vulnerable. Sharing stats and metrics highlighting intrusion attempts can help convince a board to invest more in cybersecurity. Statistics prove that threats still exist and continue to grow as a business expands its online and offline presence.
4. Insider Threats Detected
Many people mistakenly assume cybersecurity threats and attacks originate only from outside a company or organization. However, insider threats exist and are a significant concern given the nature of these type of attacks. As the name implies, insider threats are security risks that originate within your organization. This may be from current or former employees, contractors and business associates. People with direct access to your network and data can leave a trail of destruction if they opt to sabotage a business, or do so unwillingly. Examples of insider threats include data loss and identity theft. Sharing cybersecurity metrics can help demonstrate the gravity of an issue. Also why any business or company should reinforce existing security measures to quell potential threats. One effective way to prevent insider threats is to build, implement, and manage a zero-trust framework into an organization.
5. Data Volume Generated by the Business
No matter the size of the company, nearly all organizations generate plenty of valuable data that they can use to produce better products and improve service delivery. If you know how to create a Google Review link on your website, you can redirect customers to your company’s testimonial page, where they can leave reviews and comment about your products and services. This can also classify as valuable data generated by the business.
Even though an organization’s overall data volume is not necessarily a cybersecurity metric, it highlights what is sent through a given company’s network. Convince upper management to invest in upgraded security tools to secure and safeguard this data from unauthorized access or hacks, to respond promptly to mitigate any issues accordingly.
Cybersecurity is critical for growth, sustenance, and business success. Without proper security measures, businesses can become a prime target for hackers and other malicious individuals. The damage caused can lead to massive financial repercussions. Knowing what metrics to monitor can help secure your company’s network from threats and support investment. Presenting these stats to business leaders can also validate any allocated funds spent.