The Risk Quantification Services quantify security risk in financial terms, IBM indicated. In doing so, they can help organizations weigh the pros and cons of security investments and determine the best way to maximize their return on investment (ROI).
The Risk Quantification Services allow organizations to quantify risk by calculating the probability of a security event occurring and provide a probable loss projection based on expected data loss, operational disruptions and business context, IBM stated. Furthermore, the services enable organizations to retrieve a cost benefit analysis that provides insights into the cost impact of risk and the possible ROI of security investments and strategies.
In addition, the Risk Quantification Services help business executives and security teams understand security risks in terms of potential brand reputation damage and regulatory liability, IBM said. The services also provide risk mitigation recommendations.
Security Risks Present in M&As
The Risk Quantification Services can help organizations plan ahead for mergers and acquisitions (M&As), too.
High-value data is often vulnerable during M&As, and cybercriminals are increasingly targeting this data in the midst of the coronavirus (COVID-19) pandemic, an IBM study indicated. Yet, the study also showed that 50 percent of companies wait until due diligence is completed to perform cybersecurity assessments to investigate and identify the cybersecurity and data privacy risks and liabilities posed by M&A transactions.
Comparatively, nearly 60 percent of organizations that use analytics and other tools to evaluate M&A security risks start assessing the cybersecurity posture of potential targets early in the M&A lifecycle, the IBM study revealed. Among these organizations, 32 percent have sophisticated M&A capabilities and achieve superior outcomes from their M&A activity.
A Closer Look at IBM and the Security Market
Along with the launch of its Risk Quantification Services, IBM recently has made several moves to extend its security market reach, including:
- IBM, Fortinet Announce Partnership: IBM integrated the Fortinet network security training platform into its digital skills-building program.
- IBM Introduces Fully Homomorphic Encryption for Apple macOS, iOS: IBM released a fully homomorphic encryption (FHE) toolkit designed to help organizations protect macOS and iOS data at rest, in transit and during computation.
- IBM Launches X-Force Threat Management Services for IoT, OT: IBM released its X-Force Threat Management (XFTM) services for Internet of Things (IoT) and operational technology (OT) environments.
IBM monitors 70 billion security events per day, the company noted. It also has been granted more than 10,000 security patents worldwide.