Published: 18 April 2022
Risk quantification is not new, but its adoption within cybersecurity is, as organizations want to better communicate the value of cybersecurity and improve decision making through more data-driven assessment. Product leaders can use the insights outlined here to capitalize on this opportunity.
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Upfront investment (both in terms of effort and cost) can be substantial for organizations considering cyber-risk quantification. As such, there is demand for improved defensibility and scalability of cyber-risk quantification, which can support a stronger business case for investing in it, including the procurement of cyber-risk quantification solutions.
The level of experience across organizations in cyber-risk quantification vastly differs. For more successful adoption and realization of the value delivered by cyber-risk quantification, organizations need guidance from cyber-risk quantification vendors beyond technology implementation.
Some IT risk management (ITRM) vendors have started to incorporate elements of cyber-risk quantification in their products natively.
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