?? The Untold Power of Cybersecurity Metrics: Unveiling Crucial Insights YOU cannot afford to miss if you are the Business Owner/CEO/CIO/CISO??

?? The Untold Power of Cybersecurity Metrics: Unveiling Crucial Insights YOU cannot afford to miss if you are the Business Owner/CEO/CIO/CISO for any organisation! ??

Hi there,

Welcome to the fourth Wednesday this month, with Cyber Matters newsletter.

I speak to several business leaders and most of them have a common issue, and that is ‘How to measure Cybersecurity? What are some of the metrics?”

So, this week’s Cyber Matters newsletter is Cyber Ethos’s is focussed on that.

In the ever-evolving landscape of cybersecurity, metrics have emerged as the compass guiding your strategic decisions. We understand that navigating this terrain can be overwhelming, especially when it comes to selecting the right metrics that truly reflect your organisation's cybersecurity posture. As a seasoned cybersecurity expert, I'm here to shed light on this crucial topic in a manner that even the non-technical minds can comprehend.

?? Why Metrics and Cybersecurity Go Hand in Hand ??

In your leadership and executive roles, you've undoubtedly become data-driven, using metrics to steer the ship. These metrics aren't just numbers; they are the foundation of your priorities, decisions, investments, and accountability. But here's the twist: the cybersecurity realm is vast, each area needing its own set of metrics. Today, let's deep dive into the domain of cybersecurity posture management and the metrics that matter most.

Understanding Cybersecurity Posture Management: Simply put, cybersecurity posture management is the ongoing process of minimising cyber risks by quantifying and mitigating potential breaches. It encompasses three core practices:

1. Asset Inventory: Keeping tabs on your digital assets.
2. Vulnerability Management: Identifying and mitigating risk factors like infrastructure, software vulnerabilities, misconfigurations, and weak passwords.
3. Cyber Risk Quantification: Expressing identified risks in monetary terms.

?? Making Sense of Cybersecurity Metrics for Leadership ??

Today, the spotlight on cybersecurity is brighter than ever. Executives (whether you are a Business Owner/CEO/CIO or a CISO) consistently rank cybersecurity as a top concern, often alongside digital transformation. The conversation is now boardroom-bound too, thanks to regulatory mandates like the SOCI Act, Mandatory data breach notification legislation and the 2023-2030 Australian Cybersecurity Strategy (currently out of consultation).

This surge in interest has led the business executives to develop fit for purpose cybersecurity posture metrics in a clear and comprehensible manner.

?? The Challenge of Presenting Cybersecurity Metrics: The business owner’s/CiO/CISO’s ?challenge arises from the diversity of data sources. Each business area may demand distinct reports, each with its language and metrics. Operational metrics are great, but they fall short of translating into financial terms, making it difficult to align them with business decisions. Not to forget the Chief Financial Officer (or your Accountant) may not understand and support the metric.

?? Shifting Focus to Business Outcomes: By focusing on business outcomes, The CIO/CISO’s can transform their role from risk manager to business enabler. This involves speaking the language of dollars and cents and how it supports the business outcomes in a secure manner. Connecting cybersecurity metrics to business goals empowers those incharge to communicate the impact of security investments on measurable risk reduction.

?? Operational or Business Metrics? It's Both. ??

The choice isn't between operational and business metrics—it's about bridging the two. Metrics must not only reflect security operations but also tie back to your organisation's strategy and business outcomes. The key lies in selecting metrics that showcase how organisation’s security goals align with the broader business objectives.

?? The Top 7 Cybersecurity Posture Metrics You Need ??

Asset Inventory Metrics:

• Technology Asset Inventory – a measure (such as number or %) of all organisational technology assets with all the attributes, such as category (on premise – infrastructure details, Cloud – Amazon Web Services (AWS), Microsoft Azure, Google Cloud), its location and which users have access to it.
• Software Inventory – a measure (number of %) of all software versions are used in the organisation with additional attributes such as what are they used for, and which asset inventory do they relate to.

Vulnerability Management Metrics:

• Vulnerability Assessment - a measure (number or %) that are covered by the organisational vulnerability scan system (e.g., Rapid 7, OpenVAS, Tenable – just to name a few)
• Mean Age of Open Vulnerabilities – a measure (number or %) that a vulnerability is open before its patched/remediated. This is highly recommended as a measure.
• Mean time to patch (MTTP) for Critical and High Vulnerabilities – a measure (number or %) for how long it takes to patch all critical and high vulnerabilities. This is highly recommended as a measure.

Cyber Risk Quantification Metrics:?

• Breach Likelihood – a measure (usually %) of a breach likelihood. This takes a measure from the Vulnerability Management metric as an input. Its safe to assume that if the Mean Age of Open Vulnerability and Mean time to patch is a high value, this metric will be a high likelihood.
• Breach Risk and associated Business Impact – a measure (usually qualitative) of what is the organisational risk and associated Business Impact Level (BIL). BIL can be a quantitative measure and this will then lead to other business risks such as

o??Financial Risk

o??Reputational Damage Risk

o??Legislative risks e.g., Breach of a privacy legislation and associated compensation etc.

Each metric chosen has a dual purpose: it enhances security outcomes while aligning with business objectives. Remember, your organisation is unique, so tailor these metrics to your context. Define service level agreements (SLAs) with the service partners and vendors such that it aligns with the organisational security posture's maturity and associated business's demands.

?? Take Action Today for a Secure Tomorrow ??

The era of cybersecurity metrics is here, and organisational choices can redefine its cyber-resilience. I encourage you to dig deeper into these metrics, to envision its impact on the organisational outcomes, and to engage in conversations that bridge the technical and business realms.

Let's Forge a Path to Cyber Resilience Together: ??? If you find yourself seeking guidance on implementing these metrics or need expert assistance in fortifying your business’s cybersecurity posture, reach out to us at Cyber Ethos. Our mission is to empower businesses like yours with the knowledge and tools to make informed decisions that safeguard your digital future.

?? Contact us today at 1800 CETHOS (1800 238 467) or visit https://cyberethos.com.au to embark on a transformative cybersecurity journey.

Remember, your cybersecurity is our top priority, and we're here to help you every step of the way.

Stay secure, stay protected.

Best regards,

Kiran Kewalramani

Founder & Managing Director

Cyber Ethos

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