Guest blog courtesy of CYRISMA.
Gartner defines cyber risk quantification (CRQ) as “a method for expressing risk exposure from interconnected digital environments to the organization in business terms.” The most straightforward of “business terms” to use in this context is currency. While risk scores and grades help, especially when comparing risk exposure across different time periods and digital environments, risk expressed in monetary terms speaks straight to the business bottom line. How can risk impact revenue, and what are the ways to minimize the likelihood of an incident that may hit company revenue over the long or the short term? These are some of the most important questions to answer to make better risk management decisions.
In the past, we’ve talked about the benefits of cyber risk quantification and the kind of financial impact data that helps.
Here, we revisit the topic with some new data about how organizations view CRQ, the benefits they’re seeing from assigning a monetary value to risk, and some roadblocks and challenges to adopting quantification systems and tools.
Cyber Risk Quantification Use Cases
In a peer insights survey conducted by Gartner in…
