Nowadays, there isn’t a single business that does not rely on the internet for some activity. The internet is used for delivering goods, marketing, placing orders, and interacting with customers. As a result of this reliance on the web, cyber attackers have gained an added incentive to target organizations, resulting in them getting a huge payday.
Malicious actors are using complex techniques to steal data, conduct data breaches, and lock entire enterprise systems, with a large ransom being demanded in return for restoring the database. Cyberattacks are likely to increase in the foreseeable future, and as a result, businesses should consider recruiting a cyber threat intelligence system.
What is Cyber Threat Intelligence?
Cyber Threat Intelligence (CTI) collects information about present and potential future cyberattacks and threat actors, which firms can use to improve their cybersecurity and weaken the probability and damage of future cyberattacks.
CTI compiles data from a variety of sources which the CTI team can then analyze to determine which threats at present are most concerning and which attacks will impact your organization the most. This allows the business to take steps to implement effective security solutions and mitigate the effects of any attack should it occur.
The neat thing about CTI is that it is constantly updated on new threats and exploits, which means that threat actors cannot use those vulnerabilities to target your organization.
The Six Benefits of Cyber Threat Intelligence
Despite feeling like this innovative technology could cost a fortune, CTI is actually cost-effective and will help your organization save millions in costs. The Ponemon Institute stated that, on average, a data breach results in an $8 million loss to the company from lawsuits, fines, fees, and a decrease in sales due to loss in reliability. CTI will save your organization from having to incur such heavy costs as it will help you develop a plan of action to prevent and minimize the damage from attacks.
Improves the Efficiency of Your Security Team
Cyber Threat Intelligence identifies potential threats to the organization and details which threats need immediate attention, thus aiding the security team in preparing adequately. The system will allow for increased efficiency amongst the team by identifying threats, resulting in the team being able to focus on priority security threats. The security team will just have to inspect if there weren’t any false positives, and the system will do the rest.
CTI informs the business of any potential vulnerabilities present in their cybersecurity systems which will prevent hackers from exploiting those weaknesses if prompt action is taken. Through this, the risk of data loss is minimized, and everyday operations can continue normally.
Prevents data breach
CTI prevents data breaches in an organization as it thoroughly checks for any suspicious links, domains, or IP addresses that are trying to access your enterprise. If the IP address is found to be cynical, the CTI system will bar it from entering your network, preventing any loss of data.
The Cyber Threat Intelligence system allows for sharing of cybersecurity practices and information of threats across organizations. With this collaboration, companies can learn of new threats that affected other firms and prepare accordingly. In addition to this, companies can also share tips and ways to prevent cyberattacks, ensuring that everyone is united against threat actors.
In-Depth Cyber Threat Analysis
CTI stores a multitude of information from previous attacks and thus can inform your company on the methods used to carry out such attacks. This analysis also helps in establishing ironclad security protocols which will prevent your enterprise from suffering from attacks.