With a drastic shift towards remote working conditions this year, the companies have to tighten the leash using advanced cybersecurity methods to keep track of the performance. Objective measurement of technology risk, internal audit, and cybersecurity is extremely important especially since the modern threat landscape is constantly evolving. In order to try and implement a comprehensive security metrics program, one must first identify what metrics to measure followed by figuring out where to obtain the raw data. Let us understand what cybersecurity KPIs are and which ones should be monitored closely in the near future.
How KPIs Prove to Be Useful in Monitoring and Managing
Almost every business leader monitors Key Performance Indicators in all aspects of their business. Certain KPIs help monitor and manage overall performances, revenue generations, sales leads as well as process and operations by telling the story of what’s working and what needs attention. Here we discuss KPIs that can help you mitigate technology risks, internal audits, and cybersecurity by simultaneously measuring your performance against the preemptive goals. Signs of the most useful KPI include communicating internal cyber risks and aid everyone in making informed decisions revolving around the actions that need to be taken.
Amount of Incidents and Threats
The core of the cybersecurity KPIs is to be a measure of the threat environment the data face and how the number of incidents is increasing or decreasing. It can be considered as the most basic practice to keep a check on the number of reports as tracking these things provides the ultimate measure of whether the rest of the security protocols are effective. While collecting and recording these details, a couple of things should be kept in mind, first paying attention to all parts of your system, and second to avoid getting distracted by the latest or the largest threat and remember to sweat the small stuff as there are a huge number of small hacks that can easily outweigh the impact of a large data breach.
MTTI and MTTR
These acronyms stand for Mean Time To Identify (MTTI) and Mean Time To Resolve (MTTR) and can be considered as a major KPI to watch out for. Statistics indicate that poor performances in MTTI and MTTR are a huge contributor to breach costs. This KPI is also useful for CISOs to measure and show its Board for long-term improvement. Each and every individual on the information security team should prioritize enhancing these two KPIs.
Cost Per Incident
It is extremely essential to look at the cost per incident that the company has to pay for. Though this can get a little tricky as it involves measuring both human and technical resources that were utilized in hunting down the threat and addressing each incident and generating an estimate of the lost revenue caused by them. When measured aptly, this KPI turns out to be the most effective when one needs to justify the cost of alleviating the technology risks, internal audits, and cybersecurity measures. If you can demonstrate that the time spent in vulnerability scanning far outweighs the cost of addressing vulnerabilities after they are exploited, one can make a watertight business case for increased vulnerability vigilance.
Uptime and Downtime
Checking uptime and downtime is the basic practice of looking after how often your site or software is working (uptime) and for how long it’s not (downtime). Keeping a track of downtime due to security concerns needs to be addressed as that means you’re taking away an important tool for your organization or for your client. In addition to such hard costs, this also causes a case of lost productivity and potential revenue.
Creating awareness amongst the staff and users of your company about the various cybersecurity measures encourages them to report any mishaps or incidents at a quicker pace. Compliance is a KPI that goes beyond the above-mentioned technical features and hence measuring how compliant your current system against industry standards poses increased importance. It is generally measured on a slower scale and improving on this KPI is a long-term and continuous process.
The list includes some of the most essential KPI one needs to watch out for. Besides these, looking out for data leak prevention measures, looking closely at access management, virus infection monitoring, and non-human traffic include some other important KPIs related to technology risks, internal audits and cybersecurity that companies pay attention to and need to be in your focus in the year 2021.