Benchmarking is essential to your ability to make informed, comparative decisions about where to advocate for increased resources — and where to focus your cybersecurity efforts to achieve continuous improvement.
At a basic level, you need to have a solid understanding of the latest standards of care in your industry in order to benchmark effectively. Of course, it can be difficult to stay ahead of the latest security performance expectations in our evolving threat landscape, where yesterday’s standards may not cut it today.
With BitSight Peer Analytics, you can gain unprecedented visibility into the security benchmarks that exist in your industry, sector, and peer group — based on the security performance data of hundreds of thousands of global organizations. Based on a comparison of risk vectors, these data-driven insights make it easier than ever for you to identify gaps in your security performance that need to be addressed so that you can remain competitive in your market.
In order to get the most out of your cybersecurity investments, you need to have a process for identifying paths to reduce cyber risk — and assessing whether your actions against these goals are showing a positive effect on your security posture.
This type of risk-based evaluation of improvement over time empowers you to assure your senior leadership that you have a strong security program in place. But in order to create an informed action plan, you need to be able to weigh different strategies and outcomes.
That’s where BitSight Forecasting comes in — empowering you to model different scenarios and paths of remediation to project future security performance. These insights make it easier than ever to answer difficult questions, such as:
Here’s the big one, the grand finale if you will: In order to truly prove to the board and other stakeholders that your organization’s cybersecurity investments are paying off, you need to be able to report on your improvement over time — in a language that makes sense to the business.
By taking a risk-based approach to cybersecurity reporting — as opposed to a compliance-based or incident-based approach — you can assess performance based on actual exposure to cyber threats and highlight the value of your cybersecurity efforts.
Here, it’s critical to convey actionable information in context. But what does that really mean? Well, it’s all about helping the stakeholder in question understand what role a number plays in the overall risk landscape of your organization.
This context may include any of the following:
There’s no question about it: Your organization is being held increasingly accountable for its cybersecurity outcomes. By tracking and improving your security program performance over time, you can quantify the impact and effectiveness of your investments in a language that makes sense to the board and other stakeholders.
Interested in learning more about how to present metrics in context for maximum impact? Check out our ebook, A Practical Guide to Risk-Based Cybersecurity Reporting.
There’s no question about it: Being exposed to cyber risk is an inevitable part of doing business in today’s world. In fact, a recent ESG study found that 82% of organizations believe that cyber risk has increased over the past two years.