Thinking of a SecOps Platform? Showing ROI Just Got EasierNoor Boulos
As threats have continued to evolve, enterprises have made significant investments in security infrastructure and security operations is maturing. C-Suites and Boards are increasingly involved in security decision making and studies show that they are doubling down on security investments, which are expected to grow from $262.4 billion in 2021 to $458.9 billion in 2025.
One category that many security teams are turning to as a way to combat the challenges they face when protecting their organization from cyber attacks, are Security Operations Platforms. Investing in a Security Operations Platform is a highly strategic decision. Choosing the right platform for a Security Operation Center (SOC) is arguably more important than choosing any point security product, as it will become a central part of the security infrastructure, effectively acting as the operating system and data translation layer for all security investments.
The rise in budgets is good news, but with increased investment comes scrutiny and rigorous competition across IT and security teams for dollars. A highly effective way to justify the investment in a Security Operations Platform is to analyze the wide range of use cases the platform supports and quantify the economic benefits it delivers as it helps SOC teams work more efficiently.
Based on industry research and our experience working with multiple clients, we calculated the ROI of the ThreatQ Platform for six of the most common use cases it supports: Spear Phishing, Threat Hunting, Alert Triage, Incident Response, Vulnerability Prioritization and Threat Intelligence Management. We found that annual savings realized ranges from $279,552 to $142,128 depending on the use case and, in each use case, savings is enough to produce a positive ROI and short payback period after factoring in the cost of a ThreatQ license.
Data is the common thread that runs through each of these use cases, and most others that security teams face. ThreatQ’s data-driven approach to security operations, powered by the ThreatQ DataLinq Engine, sets our platform apart with unique approach to make sense of data in order to accelerate detection, investigation and response. Our data-driven security operations platform helps teams prioritize, automate and collaborate on security incidents; enables more focused decision making; and maximizes limited resources by integrating existing processes and technologies into a unified workspace.
The battle against threats continues to wage on while staffing shortages plus siloed organizations and disparate technologies limit security teams’ ability to defend against attacks. In today’s constantly changing landscape, a use case-based approach to ROI analysis will help you choose the right platform and combat the challenges you face when protecting your organization from cyber attacks.
For a deep dive into our analysis, including the steps we considered in each use case, the activities ThreatQ is able to automate entirely or simplify for analysts and the resulting cost savings calculations, download our new whitepaper, “Security Operations Platforms: An Assessment of the Economic Benefits of Six Common Use Cases.”