Quantifying cyber efforts will help CISOs secure board support: Forrester

Even as cybersecurity ascends the list of board-level concerns, directors are already dealing with what Forrester describes as “a chronic case of cyber fatigue”. In a new report, “Transform Cyber Risk Management with Cyber Risk Quantification” (CRQ), the company looks at practical actions for those hoping to tap into the quantifiable certainty offered by CRQ.

Years of increasing spending without quantifiable results have soured board members on the topic. Chief information security officers (CISOs) are now turning to the emerging CRQ technologies to quantify cyber risk for the board,” says Forrester in the report, which examines how board cyber fatigue requires a fundamental rethink and revolution in cyber-risk management.

In 2021, boards of directors were consumed with cyber resilience and ransomware preparedness. According to the “Forrester Infographic: Global Security Budgets in 2022”, security accounted for 34% of the average IT budget in 2021, continuing the upward trajectory, evidenced by a 16% compounded annual growth rate (CAGR) of security budget increase since 2018.

However, Forrester believes that while detection and response as well as increased…