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.
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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