Cybersecurity has become an enormous concern for many businesses. Eighty-four percent of businesses have been victims of at least one cyberattack in the past year, with phishing the most common type of attack. So now’s the time for these executives to crank up their security credentials.
Security information and event management (SIEM) could solve the ever-growing cybersecurity problem. It’s an approach that combines security information management (SIM) with security event management (SEM) to create a unified security management system.
But how does SIEM work? And how does it benefit businesses? To mark Cybersecurity Awareness Month, here’s a quick guide to SIEM systems.
What Is SIEM?
A SIEM system collects data from various sources and identifies potential cybersecurity threats that could put an organization at risk. It typically does this by learning relationships between event log entries and searching for security flaws in those relationships.
The system notifies the IT administrator when it detects a potential security risk and triggers specific security controls to prevent an attack or data breach.
Financial services became the first industry to use this technology, but now businesses across all sectors are investing in SIEM tools to protect data and counter cyberattacks.
No human can do the same work as a SIEM system and manage it. Even if you have it, it requires a lot of human power and time. Partnering with the right managed security group is the best option for companies, so they don’t have to hire and staff security talent. A managed security group also matures the business’ overall risk management posture and ability. This is something that you should not set out to do on your own.
Insurance carriers are now, in a lot of cases, assuming you have a SIEM in place to rebuild the history and anatomy of an attack. If there isn’t one available for insurance to reference, you should consult your insurance agent on whether or not claims might be at risk of being paid.
How Do SIEM Systems Work?
SIEM systems integrate with other security controls to prevent attacks. Advanced systems use artificial intelligence (AI) and machine learning to detect external threats and come with built-in reports that provide users with real-time insights into their security protocols.
Organizations access all this security data from one system, so there’s no need to track several applications. This means users can access their cybersecurity operations across various environments, which reduces the time to detect threats.
What Are the Benefits of SIEM Systems?
Here are some advantages of investing in a SIEM system:
- Prevent data breaches and cybersecurity attacks.
- Protect sensitive data.
- Reduce downtime.
- Improve logging, reporting, and data analysis.
- Have the ability to normalize security data for deeper insights.
- Comply with data governance frameworks.
Final Word
Security information and event management provides businesses with an extra layer of cybersecurity, helping organizations protect their most valuable data assets. A SIEM system saves businesses time and money by detecting security threats, improving compliance, and reducing downtime from one system.
Call Stasmayer at (843) 548-3952 today to implement a SIEM system and improve business cybersecurity!