The Continuum of Cyber Risk Analysis
As senior business leaders are becoming more engaged on the topic of cybersecurity, the need for a more practical and informed cybersecurity risk management capability is mounting.
As cyber threats evolve, so too must your cyber threat protection – thus the Continuum of Cyber Risk Analysis. Executives responsible for cyber security face increasingly difficult choices about what systems to invest in and where to allocate resources to best protect the enterprise. Typically, this falls to the IT executive, who is also challenged to communicate, and worst case, defend these decisions to their peers, the board, or regulators. Risk assessment is a critical tool in making these choices. With digital transformation, involving the collection and wider use of valuable data across broader, inter-connected networks, these challenges will only increase.
The assessment of business risk itself exists along a continuum, from rules-based, compliance
models to qualitative, experiential based judgement assessments, to mathematically
quantifiable calculations. As the successful enterprise has become reliant on extensive, inter-
connected networks – and the target of sophisticated cyber criminals – IT in particular, requires the capability to better assess, quantify and communicate their decisions regarding cyber risk.