In today’s dynamic cybersecurity landscape, businesses are grappling with the challenge of quantifying and managing cyber risks. At Zeron, we understand the critical need for a robust, data-driven approach to cybersecurity. This is why we have developed QBER (Quantified Business Exposure to Risks), India’s first comprehensive Cyber Risk Quantification (CRQ) model. In this blog, we will delve into the intricacies of QBER, exploring its parameters and the model’s framework to provide a clearer understanding of how it can revolutionize your cyber risk management strategy.
What is QBER?
QBER is a state-of-the-art CRQ model designed to provide a quantitative assessment of cyber risks. By leveraging advanced analytics and a comprehensive set of parameters, QBER translates complex cybersecurity metrics into clear, actionable insights. This allows businesses to make informed decisions, prioritize resources, and effectively mitigate potential threats.
Core Parameters of QBER
QBER’s effectiveness lies in its detailed and nuanced parameters, each carefully selected to provide a holistic view of an organization’s cyber risk posture.
Here are the core parameters that make QBER a game-changer:
- Industry Sector: The sector in which the organization operates, influencing the types and levels of cyber threats faced.
- Market Cap or Revenue: The financial size of the company, indicating its attractiveness as a target for cyberattacks.
- Workforce: The size of the workforce, affecting the organization’s attack surface and security requirements.
- Security Solutions: The variety and effectiveness of cybersecurity solutions deployed, impacting the organization’s overall security posture.
- Line of Business: The diversity of business units and operations, each presenting unique cyber risk profiles.
- Locations: The geographic spread of the company’s operations, influencing regulatory compliance and exposure to regional threats.
- Regulations: The regulatory frameworks applicable to the organization, dictating compliance requirements and security standards.
The QBER Model Framework
The QBER framework is designed to be flexible and adaptable, catering to the unique needs of different organizations.
Here is a step-by-step overview of how the QBER model operates:
- Data Collection: The process begins with collecting comprehensive and accurate data about the organization’s business units, assets, and operations. This may involve gathering data from internal sources, such as databases and network logs, as well as external sources, such as threat intelligence feeds and industry benchmarks.
- Risk Assessment Methodologies: Once the data has been collected, the next step is to assess cyber risks using the methodologies and techniques provided by the QBER model. This may involve conducting threat assessments, vulnerability scans, and scenario analysis to identify potential risks and their potential impacts on the organization.
- Decision-Making Frameworks: Finally, organizations must use the insights generated by the QBER model to inform decision-making and resource allocation. This may involve prioritizing risk mitigation strategies, allocating cybersecurity budgets, and implementing security controls to reduce the organization’s exposure to cyber threats.
Mathematical Calculations
QBER also includes several mathematical calculations to assess and quantify risk:
- Risk Assessment Score (RAS): A quantitative measure of the overall cyber risk exposure faced by the organization, considering both the likelihood and potential impact of cyber threats.
- Cost-Benefit Analysis (CBA): Comparing the costs associated with implementing security controls against the potential benefits of reducing cyber risk.
- Return on Security Investment (ROSI): A metric used to evaluate the effectiveness of cybersecurity investments in mitigating cyber risk.
- Expected Loss (EL): The anticipated financial loss resulting from potential cyber threats.
- Optimal Security Investments (OSI): Determines the optimal security investment by comparing the expected reduction in potential financial losses resulting from the implementation of security controls against the baseline expected loss, considering LOB-specific risk factors.
- Risk Mitigation Factor (RMF): Comparing the expected reduction in potential financial losses resulting from the implementation of security controls against the baseline expected loss.
- Real Cyber Value at Risk (Real CVaR): The potential financial loss an organization faces due to cyber threats, considering both the probability of occurrence and the magnitude of impact.
The Benefits of QBER
Implementing QBER offers several significant benefits to organizations:
- Enhanced Risk Visibility: QBER provides a clear and comprehensive view of the organization’s cyber risk posture, enabling better decision-making.
- Resource Optimization: By prioritizing risks, QBER ensures that resources are allocated effectively to address the most critical threats.
- Proactive Threat Management: With real-time threat intelligence integration, QBER helps organizations stay ahead of emerging threats.
- Improved Security Posture: QBER’s comprehensive assessment and tailored recommendations help organizations strengthen their overall security measures.
Conclusion
In a world where cyber threats are becoming increasingly sophisticated, traditional risk management approaches are no longer sufficient. QBER offers an evolving solution by quantifying cyber risks and providing actionable insights. At Zeron, we are committed to helping organizations enhance their cybersecurity posture through innovative solutions like QBER. Embrace QBER and take a proactive step towards safeguarding your business in the digital age.
For more information on QBER and how it can benefit your organization. Visit our website to know more.