In the Information Age, we cannot emphasise enough how important robust cybersecurity measures are. Cyber threats evolve and become more sophisticated meaning organisations are under increasing pressure to protect data and digital assets. An effective cybersecurity policy isn’t a ‘nice to have’, it’s essential.
Once you have a cyber security plan in place, you need to measure how it’s performing and monitor key cyber security metrics. These metrics give you insights into how effective your defences against cyber threats really are. From threat metrics to mean time indicators, security ratings, and benchmarking, you will be able to protect your organisation’s data and that of your own customer base.
Key Performance Indicators (KPIs) in Cybersecurity
KPI’s are quantifiable measurements that provide insights into the effectiveness of an organisation’s security efforts. These metrics help to evaluate how robust your internal controls are and the impact of security best practices. Cybersecurity KPIs need to offer information about what you specifically need to measure to achieve to reach its long-term security objectives.
Importance of tracking KPIs
Tracking cybersecurity KPIs is important. It helps you identify weaknesses in your security posture and address them. Having structured KPIs helps demonstrate the value of cybersecurity investments to stakeholders, especially when communicating with non-security members of the organisation, such as board members or leadership. If you choose your performance indicators well, you will be able to effectively illustrate the cybersecurity landscape and justify the budget and resources allocated to security initiatives.
Monitoring KPIs enables data-driven decision-making. Without these metrics, any decisions about cybersecurity within your organisation become speculative rather than evidence-based. KPIs provide a historical perspective and help your teams to see trends and changes in your cybersecurity posture over time. Simply put, KPIs help monitor progress towards your security goals and compliance requirements – they are the evidence you need to demonstrate that you’re adhering to security policies and can be used to show compliance with standards that require proactive incident response.
Examples of cybersecurity KPIs
- Mean Time to Detect (MTTD): Tracking this metric shows how quickly cybersecurity systems and teams identify threats. A shorter MTTD implies quicker detection, allowing for faster response to mitigate risks.
- Mean Time to Resolve (MTTR): Measuring how long it takes to fully resolve and recover from a security incident after its initial detection can demonstrate efficiency. A shorter MTTR can often signify a more efficient response and recovery process.
- Vulnerability Patching Rate: This gauges the efficiency of patch management systems and processes in place.
- Preparedness Level: Monitoring your readiness against cyber incidents and attacks can help to make sure that your organisation is fully equipped to respond and recover from a security event.
- Number of Security Incidents: Being able to track how many security incidents have been detected and reported helps you understand the effectiveness of security controls and practices.
- Security Ratings: This KPI quantifies and objectively measures security maturity and cybersecurity posture.
Cybersecurity metrics need to measure what is important to your organisation but these KPIs help demonstrate your efforts to protect data and assets and help gain a clearer picture of your security situation so you can make better and more informed decisions about the overall security of their organisation.
Security Ratings and Benchmarking
Security ratings are quantifiable measurements of your organisation’s cybersecurity posture. They provide a clear, objective, and consistent way to evaluate an organisation’s enterprise risk and compare the cybersecurity health of different entities. Organisations can use security ratings to assess their own cybersecurity posture as well as that of external vendors, investment targets, or insurance applicants.
Benchmarking
Benchmarking against industry standards is more important than a generalised approach. It helps you to understand your cybersecurity performance relative to peers and identifies areas for improvement. This process involves comparing an organisation’s security practices and metrics against established frameworks and industry averages.
One way to approach benchmarking is using maturity assessments based on established standards such as ISO/IEC 27001.
To effectively benchmark against industry standards, you could:
- Carry out regular assessments to help you identify gaps in preparedness or capabilities.
- Monitor key security metrics in real-time (or as near to real time as possible).
- Compare your own performance to similar-sized organisations in your industry.
- Be involved with information sharing between industry peers.
- Utilise security ratings
Security ratings can have a significant impact on improving your organisation’s security posture. By providing a continuous and up-to-date assessment of potential attack surfaces, these ratings allow you to:
- Identify and prioritise vulnerabilities
- Track progress over time
- Compare security ratings with industry averages and competitors
- Better communicate the value of cybersecurity initiatives to executive leadership
- Assess and monitor the cybersecurity posture of your vendors so you can make informed decisions about supply chain risks.
Security ratings and benchmarking helps you to develop a more proactive approach to cybersecurity so you can implement a data-driven strategy that allows for continuous improvement and a more resilient security posture in the face of evolving cyber threats.
Contextualisation
As we’ve said, measuring quantifiable information is important, however, it doesn’t tell the whole picture. To get the most from this information we also need to look at it in context. 100% attendance at security awareness training may look great on paper but if the number of breaches of personal data, security, and compliance continue to occur, then the training is not effective and this should be identified.
Keeping on top of cyber security metrics
Measuring and improving your cybersecurity position has always been important but as cyber threats evolve, it has become necessary. KPIs, mean time indicators, and security ratings, give you a clear picture of how secure your organisation is in the current climate, how ready you are, and how effectively you respond. Being able to identify weaknesses, track progress, and make smart decisions will help you stay one step ahead of cyber threats and protect valuable data and assets.
The key to a strong cybersecurity programme is ongoing monitoring and improvement to protect against current threats to face future challenges. At Principle Defence, we can help you every step of the way whether that’s by providing the training required to upskill, the resources and tools you need, cybersecurity strategy and planning, or being the team you need. If you want to find out more, get in touch but we are sure that by monitoring these metrics, you will be able to influence change.