Cybersecurity ROI isn’t about cost savings. It’s about how your cybersecurity program helps you achieve your goals while managing risk to a level that your executive team is comfortable with. Learn the five steps to measuring cybersecurity ROI in our eBook.
The role of data analytics in cybersecurity investments
As your digital ecosystem expands – and threats against it evolve – data analytics can have a critical impact on measuring cyber risks and improving cybersecurity performance management. Complex enterprises often have multiple distinct business units and subsidiaries, with mergers and acquisitions leading to organizational groups in disparate geolocations. The unique structure, function, and digital exposure of each group makes it difficult for security and risk leaders to get a read on risk and identify the likelihood of a cybersecurity attack.
Data analytics and cybersecurity reports from BitSight provide clear visibility into the security performance of distributed enterprise groups. Based on BitSight’s trusted insights, BitSight data analytics takes the guesswork out of identifying concentrations of risk and helps security and risk leaders monitor security programs and allocate limited resources most effectively.
BitSight cybersecurity data analytics
BitSight Security Ratings empower businesses with data analytics and cybersecurity reporting, providing the insight required to seamlessly identify and measure cyber risk. Much like credit ratings, BitSight Security Ratings are generated by analyzing externally observable data and are produced without any information or input from the rated entity.
Our security ratings range from 250 to 900; the higher the rating, the more effective the company is at implementing effective security practices. Ratings are based on four classes of data: compromised systems, security diligence, user behavior, and data breaches.
We collect and analyze 100 billion new events each day, resulting in ratings for over 40 million organizations worldwide. Our ratings have been independently verified to correlate with an organization’s risk of a data breach. Cyber risk managers rely on BitSight data analytics and cybersecurity reporting to accurately summarize an organization’s breach risk and prioritize cyber risk mitigation efforts with clear visibility into where the greatest risks exist.
Improving cybersecurity performance with BitSight ratings
BitSight Security Ratings leverage an unparalleled dataset to deliver differentiated insights. Our data analytics deliver unique visibility that help your organization make better, smarter decisions around cyber risk strategy and third-party risk management.
With BitSight, you can access real-time, meaningful, and objective data and metrics on cybersecurity performance in each area of your organization. With visibility into risk throughout your digital footprint, you can easily assess exposure for individual units as well as your organization as a whole. BitSight provides data analytics and cybersecurity reporting on security performance for each endpoint, enabling you to focus remediation efforts on the areas that will deliver the greatest risk reduction in the shortest period of time.
With BitSight data analytics and cybersecurity reporting, security teams:
- Align security programs. BitSight analytics make it easy to align business units, geographies, and subsidiaries into a cohesive and effective security program.
- Visualize areas of disproportionate risk. BitSight’s ecosystem-wide views of your digital footprint make it easy to assess cyber risk based on areas of highest exposure as well as the security of individual assets.
- Monitor security performance across complex organizations. BitSight provides an at-a-glance view of the relative security performance of multiple groups within your organization.
- Uncover group-based performance deficiencies. Identify the factors within each area that most significantly impact or detract from overall security performance, including unpatched systems, existing malware infections, and insecure access points.
- Consistently enforce security controls. Automatically create cybersecurity action plans for subsidiaries and measure the impact on parent groups from improvements to subsidiary security performance.
- Benchmark security programs. With daily security ratings for over 140,000 organizations, BitSight makes it easy to benchmark the relative performance of security programs against the performance of peers and competitors.
- Allocate resources. Prioritize investments and allocate limited resources to the actions that can most effectively move the needle on cybersecurity performance.
- Create improvement plans. Set performance targets and create improvement plans for each enterprise group.
- Deliver effective reports. Confidently measure, manage, and report to the board about the security performance of different units.
Integrating BitSight cybersecurity data analytics
The BitSight platform offers intuitive integration with leading vendor risk management (VRM) and governance, risk and compliance (GRC) solutions. By integrating BitSight’s best in-class data analytics and cybersecurity reporting with VRM and GRC partners, you can streamline your vendor assessment process and gain increased confidence in your security programs and controls.
Our VRM and GRC partners include:
- ServiceNow. Get continuous monitoring and real-time updates on risk within your vendor pool to achieve efficient, technology-based risk reduction.
- Venminder. Confidently assess vendor risk during onboarding.
- ThirdPartyTrust. Drive automated risk reduction with cybersecurity information and data surrounding all vendor relationships, centralized in one encompassing view.
- ProcessUnity. Make quicker, more accurate remediation decisions.
- Archer. Improve workflow efficiency in third-party risk management.
- OneTrust. Implement a consistent third-party risk management program.
- Prevalent. Gain a complete and consistent view of vendor risk intelligence.
- Riskmethods. Improve cyber resilience with an AI-powered platform backed by BitSight data.
- Coupa. Manage transactions across procurement, payments, and supply chain.
- Interos. Bring visibility to the operational resilience cloud.
Why customers choose BitSight
Founded in 2011, BitSight has transformed how companies manage cybersecurity performance and third-party risk management. Today, 20% of Fortune 1000 companies, 4 of the top 5 investment banks, and all of the Big 4 accounting firms choose BitSight technology to help manage cyber risk.
- Superior analytics. BitSight analytics address cybersecurity program performance, peer comparison, digital risk exposure, future performance, and other important cyber risk metrics.
- Greater visibility. BitSight's technology provides clear visibility into existing and emerging areas of risk, including areas of cyber risk that are correlated to breaches.
- Quantifiable outcomes. BitSight drives proven ROI with significant operational efficiency and risk reduction outcomes.
- Wide industry adoption. BitSight is the choice of more corporations, governments, banks, regulators, and insurers than any other security ratings solution.
FAQs: What’s the role of data analytics in cybersecurity?
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