Cyber risk metrics are critical to professionals in cyber security and risk management. The right metrics enable security teams to identify risk and establish controls to mitigate it. Metrics also allow organizations to measure the success of cybersecurity programs over time and take action to improve them.
Too often, however, the cyber risk metrics or cloud security metrics that organizations rely on are either overly complex or too vague to facilitate data-driven conversations around cyber risk. Many metrics are presented without context, making it impossible for security teams to rely on this data when prioritizing efforts and investments.
BitSight can help. BitSight Security Ratings use externally observable and verifiable data to provide an instantaneous, point-in-time snapshot of an organization’ s overall security posture. By continuously monitoring the security performance of their organization and the security posture of vendors, cyber risk professionals can create cybersecurity plans, track progress over time, and improve their overall security performance.
With BitSight Security Ratings, organizations can:
BitSight Security Ratings use objective, verifiable data to measure an organization’s security performance. Thousands of organizations around the world use BitSight Security Ratings to deliver cyber risk metrics that help proactively identify, quantify, and manage cyber risk throughout their ecosystem.
In contrast to security assessment tools that conduct periodic scans or evaluate a company’s policies, BitSight continuously measures security performance based on externally observable data. BitSight ratings are based on evidence of compromised systems, security diligence, user behavior, and data breaches within an organization. This data-driven, outside-in approach requires no questionnaires to be completed and no information to be provided by an organization. With cyber risk monitoring and daily Security Ratings from BitSight, organizations have the cyber risk metrics they need to seamlessly identify and measure risk and security performance.
BitSight for Third-Party Risk Management provides risk managers with:
Founded in 2011, BitSight has become the most widely adopted security rating solution in the world.
BitSight provides security ratings for 7 of the top 10 largest cyber insurers, 20% of the world’s countries, 4 of the top 5 investment banks, 25% of Fortune 500 companies, and 4 of the Big 4 accounting firms.
BitSight provides a full analytics suite to address important cyber risk challenges including comparison, digital risk exposure, and future performance.
BitSight facilitates significant operational efficiency and risk reduction outcomes to drive proven ROI.
BitSight offers the broadest visibility into existing and emerging areas of risk.
BitSight has a large community of cyber risk interactions, enabling more productive collaboration.
Cyber risk metrics provide information about areas of risk within an organization and the performance of controls established to mitigate risk. Along with cybersecurity analytics, risk metrics enable security teams to determine the effectiveness of security controls and processes over time and identify areas for improvement.
The most important cyber risk metrics vary by audience. Important metrics for CIOs, for example, include security performance benchmarked against peers, patching cadence, and high-risk findings that are outstanding from recent audits or security assessments. When evaluating vendors, important cybersecurity data includes the amount of time vendors require to remediate vulnerabilities and respond to security incidents, as well as vendors’ security ratings.