IBM’s security wing announced a new risk-based service that is built to help companies apply analytics used for making businesses decisions pertaining to cybersecurity spending. The service is being called Risk Quantification Services.
IBM’s Risk Quantification Services will help organizations identify, prioritize and quantify security risk to make risk assessments. The assessment will give organizations the information they need to make investments and deploy technologies that can help their business. Julian Meyrick, Vice President, IBM Security said, “Our Risk Quantification Services not only enables security leaders to articulate risks and potential exposure in terms of financial loss, it empowers them to measure the actual efficacy of existing security protocols, based on our analysis of their business environment, assets, security architecture and the potential threats to their organization.”
This new service will help CISOs gather financial data that indicates the potential of business impact of security vulnerabilities. This could help the C-suite make informed cybersecurity decisions.
The new service will be crucial in these times where corporate directors often complain of their board having an underwhelming understanding of the risks and opportunities. Using IBM’s Risk Quantification Services will help organizations with executive buy-in, informed decision-making, and gaining a strategic view of risk management.