Why Every Business Should Run Cybersecurity Monitoring?

SIEM vs cybersecurity monitoring

Security Information and Event Management (SIEM) and cybersecurity monitoring are closely related concepts in the field of information security. SIEM tool is a type of software used to manage and analyze security-related data from multiple sources. SIEM tools are designed to provide real-time visibility into security events, allowing organizations to detect, respond to, and prevent security threats. 

Cybersecurity monitoring, on the other hand, refers to the process of monitoring a network or system for security-related events and potential threats. This can be done using a variety of tools, including SIEM tools, intrusion detection systems (IDS), intrusion prevention systems (IPS), and firewalls.

Common ways business adopt to detect risks

One of the most commonly used security tools is a firewall. A firewall is a software program that helps protect your network by controlling incoming and outgoing network traffic. It acts as a barrier between a trusted internal network and an untrusted external network, such as the internet. By configuring the firewall, you can block incoming traffic from known threats and allow only trusted traffic to enter your network.

Another tool that is commonly used for threat detection is an antivirus program. Antivirus software is designed to detect and remove malicious software, such as viruses and malware, from your computer. Some antivirus programs also include real-time protection, which can scan your computer and alert you when it detects any potential threats.

Other ways include:

• Keeping software and operating systems up to date with the latest security patches and updates.
• Implementing strong passwords and two-factor authentication to help protect against password-based attacks.
• Regularly backing up important data to prevent data loss in the event of a cyberattack.
• Educating employees about safe internet practices, including avoiding phishing scams and suspicious email attachments.

Cybersecurity monitoring: a systematic and scalable way to run threat detection for your business

If you have not heard of cybersecurity monitoring or threat detection, it is the process of continuously monitoring your network and systems for signs of a potential cyber attack. What does it do exactly?

Protect sensitive data – Your business likely holds a significant amount of sensitive data, including customer information, financial data, and trade secrets. By running cybersecurity monitoring, you can detect and respond to potential threats before sensitive data is compromised.

Comply with regulations – Many industries have strict regulations regarding the protection of sensitive data, such as HIPAA for healthcare organizations and PCI DSS for businesses that accept credit card payments. With cybersecurity monitoring, you can ensure that you are in compliance with these regulations and avoid costly fines.

Prevent data breaches – Data breaches can have serious consequences, including loss of customer trust, damage to reputation, and financial losses. Cybersecurity monitoring empowers you to detect and respond to potential data breaches before they occur, minimizing the risk of harm to your business operation, reputation and more.

Improve incident response time – If a cyberattack occurs, time is of the essence. By running cybersecurity monitoring, you can detect potential threats quickly, allowing you to respond faster and effectively.

Stay ahead of emerging threats – Cyber threats are constantly evolving, and it can be difficult for businesses to stay ahead of the latest threats. By running cybersecurity monitoring, you can receive real-time alerts about emerging threats, allowing you to take proactive measures to protect against them. Oftentimes, it is not just about the abnormal data the platform identifies but also the pattern that it highlights. This is achieved by managing data logs and running analytics. 

How does cybersecurity monitoring work?

Here is a general overview of how cybersecurity monitoring works:

Data Collection: Cybersecurity monitoring starts with the collection of data from various sources, such as network devices, servers, and endpoints. This data can include network activity logs, system logs, security alerts, and other information that can be used to identify potential threats.

Data Analysis: The collected data is then analyzed using a variety of techniques, including statistical analysis, machine learning, and behavioral analysis. The goal of this analysis is to identify any anomalies or suspicious activity that could indicate a potential threat.

Threat Detection: Based on the results of the data analysis, the cybersecurity monitoring system will generate alerts or notifications when it detects potential threats. These alerts can be in the form of email notifications, SMS alerts, or notifications within the monitoring platform itself.

Response and Mitigation: Once a threat is detected, the cybersecurity monitoring system will prompt you to take actions to mitigate the threat, such as blocking network traffic or quarantining a compromised device. The security team can then review the alert and take further action, such as conducting a full investigation and remediation.

Continuous Monitoring: The process of cybersecurity monitoring is continuous, with the system constantly monitoring and analyzing data from various sources to identify potential threats. This allows businesses to respond to threats quickly and effectively, minimizing the impact of a potential attack.

What threats can cybersecurity threat detection solutions identify?

Cybersecurity threat detection solutions use a variety of techniques, including behavioral analysis, machine learning, and signature-based detection, to detect and respond to threats in real-time. Here are a few of the most common types of threats that cybersecurity threat detection solutions can identify:

Malware – Malware is a type of software that is designed to harm or exploit a computer system. Cybersecurity threat detection solutions can identify and respond to different types of malware, including viruses, Trojans, and ransomware.

Network intrusions – Network intrusions occur when an unauthorized individual gains access to a network or system. 

Phishing attacks – Phishing attacks are designed to trick individuals into revealing sensitive information, such as passwords or financial data. 

Insider threats – Insider threats occur when an employee, contractor, or vendor with access to sensitive information intentionally or unintentionally causes harm to an organization. 

Advanced persistent threats (APTs) – APTs are targeted attacks that are designed to remain undetected for an extended period of time.

Denial-of-service (DoS) attacks – DoS attacks are designed to overload a network or system, rendering it unavailable to users.

How SIEM addresses SOC operational challenges

Many Security Operations Centers (SOCs) are struggling to keep up with the latest technology advancements and evolving threat landscape. The growing complexity of technology has led to a shortage in SOC teams and limited their ability to fully understand their organization’s security posture. 

Alert Fatigue –  SOC teams who are overwhelmed by the large number of alerts they receive, leading to missed signals or delayed responses. The high volume of notifications can cause SOC analysts to become desensitized, making it easier to overlook critical alerts amidst the clutter. 

The “Cry Wolf” Effect – Not only are SOC teams inundated with alerts, but many of these alerts are false positives. This leads to a waste of time for security analysts, who are bogged down by attending to a high volume of false alerts. A report by Enterprise Security Group (ESG) showed that 75% of companies spend an equal amount of time or more on false positives than actual alerts. To overcome this issue, SOC analysts must quickly evaluate alerts to determine if they are true or false, and escalate the genuine alerts to the appropriate stakeholders.

The People Problem – This can be broken down into: staff shortage, skill shortage, and knowledge shortage. With 70% of IT security leaders claiming that it’s difficult to hire qualified SOC staff, staff shortage is the biggest hurdle in the cybersecurity industry. The shortage of skilled talent is compounded by the increasing demand for cloud migration expertise. If the SOC team lacks the necessary skills to effectively use their monitoring and security management tools, they will be less effective and slower to respond.Knowledge shortage also plays a role, as employees with limited knowledge are more likely to fail to recognize problems and respond to real attacks.

Tracking KPIs and Monitoring SOC Efficiency – To keep up with the evolving threat landscape, effective security programs require actionable information to make informed decisions. SOC Key Performance Indicators (KPIs) help improve the overall security program and drive improvement, but there are no set benchmarks for these KPIs. Determining meaningful benchmarks requires organizations to understand what they aim to achieve with the program. Monitoring specific cybersecurity KPIs is crucial for measuring security and improving SOC efficiency.

Challenges for small businesses

Small businesses often have limited resources, both in terms of budget and manpower. Running a SOC team or a SIEM system requires a significant investment in both money and personnel.

Small businesses may not have the financial resources to hire a team of trained and experienced security professionals, purchase the necessary hardware and software, and establish the physical infrastructure necessary to run an effective SOC or SIEM system. Additionally, small businesses may not have the personnel to manage, monitor, and maintain these systems, leaving their security posture at risk.

With cyber threats constantly evolving, it is difficult for small businesses to keep up with the latest threats and protect their networks from attacks. Small businesses often lack the technical expertise to effectively implement and manage the latest security technologies, leaving you vulnerable to cyberattacks.

At Kobalt.io, we can implement threat detection for you cost-effectively. We can tailor the solution for your needs, sizes and budget. Once it is in place, we will run managed threat detection 24/7 at a fraction of cost to meet your ongoing security and compliance needs. By empowering organizations with the ability to monitor, analyze, and respond to security incidents in real-time, cybersecurity threat detection helps you stay protected against cyber threats, keep sensitive information safe, and achieve compliance.