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Rein in Runaway Data Risks with New Enhanced Analytics Tools

BY SPIRION
March 28, 2023

Every day, the world generates roughly 2.5 quintillion bytes of data, a volume which is expected to double every two years. Organizations rely on this data to run every aspect of their business. However, these large, valuable troves of information also put organizations at greater risk, offering a larger attack surface and enhanced threat of data breaches. Securely managing that data throughout its lifecycle is critical to achieving positive business outcomes, making the need for robust attack surface management more important than ever before.

As a leader in the data security and privacy space, Spirion’s approach to proactive incident  response includes new identification and cyber risk reporting tools that can help organizations prioritize data protection efforts to limit the damages caused by a breach. Here’s what you need to know about our newest offerings.

The Benefits Of Quantifying Risk Through Analytics

Risk quantification is a process which analyzes the sensitive data risk of your organization. This analysis can be expressed in financial terms, allowing for better insight into where organizations need to invest their security resources most effectively.

According to the IBM-Ponemon Institute 2022 Cost of a Breach Report, companies that prioritized risks and threats saw multi-million-dollar cost savings compared to organizations that didn’t use risk quantification techniques. Further, risk quantification was associated with average breach costs averaging more than $1 million dollars lower than the global average of $4.35 million dollars.

These numbers illustrate how critical it is for organizations to effectively evaluate their threat surface. However, the same report also found that more than half of organizations included in the survey don’t prioritize their risks based on any risk quantification criteria. These organizations potentially face increased financial risks to the tune of tens or hundreds of thousands of dollars.

Identifying And Quantifying Risks With Spirion’s Sensitive Data Platform (SDP)

Spirion’s SDP can help protect your organization against data breaches as well as ever-changing privacy regulations. This comprehensive data discovery solution already offers 98% accuracy backed by 17 years of industry-leading experience, but the data security environment is always changing.

Here are a few recent enhancements to Spirion SDP.

Spirion SDV³ Risk Score and Dashboard

In August, we launched our innovative SDV³ Sensitive Data Risk Dashboard. With SDV³, improved data insights are now available at your fingertips. This tool highlights your riskiest data assets and allows for better attack surface management with a quantitative measure of risk.

The SDV³ measures your risk profile with a three-part equation:  Impact x Probability Loss = Risk

  • Impact is determined by multiplying the assigned value of various data types by the volume of that data type discovered.
  • Probability Loss is a percentage score assigned to data assets which can be reduced by mitigating controls.
  • Risk is your total score as a current snapshot across your data landscape. This number is a measure of three principles: Value, Volume and Vulnerability.
  • Value: How much the data is worth.
  • Volume: How much data is present.
  • Vulnerability: How likely is the data to be compromised based on location and posture?

The SDV³ Risk Score and Dashboard puts a measurable number on data risk and directly ties it to the information on your systems in near real-time. With quantifiable risk, your organization can take actionable steps to enact policies and procedures to achieve the greatest impact.

Spirion Enhanced Analytics (SEA)

Spirion Enhanced Analytics (SEA) goes a step further in delivering organizational insights into your sensitive data risk profile and attack surface. SEA provides a granular look at your data to give your security and privacy teams an efficient way to consolidate and analyze large volumes of information. SEA works in ways traditional databases cannot and can perform enterprise-grade data modeling across millions of records in seconds.

SEA can be customized to meet your organization’s needs by allowing data teams to build and run their own data models and visualizations. From these, key performance indicators that can provide a holistic view of your organizational security and privacy posture can be developed and measured over time. In addition to deep integration with SDP, SEA supports Microsoft Open Database Connectivity (ODBC), allowing for simple integration with BI tools like Power BI and Tableau as well as SIEMs like Splunk.

Executive Reporting

Executive Reporting continues to build on an already-impressive platform offering by translating data into actionable insights that can be relayed to key decision-makers. This functionality offers a “high-level” overview of risk posture, allowing CISOs and other leaders a way to deliver information in a way that makes sense for all stakeholders.

Get In-Depth Expert Insights On Cyber Risk Reporting

As security challenges related to data privacy and security continue to rise, it becomes increasingly important for businesses to take a proactive approach to attack surface management. However, this approach is only possible with hard data that stakeholders can trust.

We invite you to learn more about what it takes to manage security risks in your organization with quantifiable and actionable risk assessments. Sign up for our proactive response webinar and learn from security experts about how cyber reporting and sensitive data risk identification can help prioritize data protection efforts to limit the damages caused by a breach.