Acuity mentioned in Gartner report for Cyber Risk Quantification
Acuity was listed a Sample Vendor in the Gartner® ‘Hype CycleTM for Cyber and IT Risk Management 2021’. In the recently published research, Acuity gets mentioned under the category of ‘Cyber-Risk Quantification’, an issue with a high benefit rating on the Gartner Priority Matrix for Risk Management, 2021. This means that cyber risk quantification is amongst the most “relevant concepts and technologies becoming best practices in their applicable areas”.
“Cyber-risk quantification in the context of a structured risk management program is an incremental shift toward a more data-driven approach to risk evaluation”, mentions the Gartner report. “It requires inputs from multiple systems and stakeholders, and seeks to replace subjective assessments with probability distributions. The near-future goal of quantification is to juxtapose opportunities and losses. This in turn will enable executives to begin treating cyberscenarios as business decisions.”
It comes as no surprise to Acuity that cyber risk quantification is slowly but surely rising to the top in terms of demand, particularly as we noticed a few years ago that with cyber security becoming a boardroom issue, there is an increasing need for cyber risk to be measured and reported in financial terms.
While quantitative techniques and statistical analysis are not new, innovation from vendors such as Acuity has come from modelling quantitative risk against the current state and from there quantifying the effect of change, whether from the introduction of new cyber security products and services, increasing or decreasing KPIs, or from new events such as cyber breaches, threat intelligence and vulnerabilities.
With enterprise-wide scalability, advanced data analytics and reporting organisations can now measure cyber risk and use this enhanced visibility to make informed decisions on priorities, budget allocation and investments in new products and services.
If you’d like to discuss cyber risk quantification or see STREAM in action, contact us now or request a demo.
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References: Gartner, Hype Cycle for Cyber and IT Risk Management, 2021, Jie Zhang, Deepti Gopal, Claude Mandy, 19 July 2021
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