What Is Cyber Security Monitoring And Why Is It Important?

Everyone in today’s world is turning digital to stay up with society and technology. However, there have been incidents of data breaches at various businesses that have resulted in significant losses. Cyber security monitoring is now a major concern for every company, especially in today’s environment when remote working is becoming more popular. Besides investing in the correct technology, establishing a cyber security strategy, and educating employees, monitoring your IT infrastructure allows you to protect yourself against cybercrime. Continuous monitoring will assist in reducing the dangers that your company faces. But what exactly is cyber security monitoring, and why does it matter?

What is Cyber Security Monitoring?

Cybersecurity monitoring is the continuous process of observing and analyzing an organization’s network and systems to detect and respond to potential cyber threats. Its importance can be summarized as follows:

1. Continuous Observation: This involves the automated tracking of network traffic and system activities to identify suspicious behavior or unauthorized access attempts.
2. Threat Detection: The primary goal is to detect cyber threats that may have bypassed existing security measures, allowing for timely intervention.
3. Alert System: When a potential threat is identified, alerts are sent to the Security Incident and Event Management (SIEM) system for further analysis and action.

Learning about The Role of Cybersecurity Analytics In Your Organization’s Growth is equally important too.

Benefits Of Cyber Security Monitoring?

Cyber security monitoring is critical to ensuring that your system is constantly online and functioning properly. Failure to monitor a network exposes your company to severe security risks and raises the likelihood of several technical faults in the workplace. Cyber security monitoring benefits include:

Reduced Downtime

One of the primary benefits of cyber security monitoring services is that they are an effective method to prevent downtime for your business. A fully functional network is critical for day-to-day corporate activities. A managed security services provider will guarantee that everything is operating at peak performance by testing it regularly. These preventative monitoring services will also repair and upgrade your network to reduce the possibility of downtime, which may result in major financial consequences for your firm.

Reading about How to implement continuous cyber security monitoring can prove useful for you too.

Increased Employee Productivity

Another advantage of cyber security monitoring services is that it is an excellent technique to boost each employee’s productivity levels. A managed security service provider, for example, will handle all technical chores regarding a network, allowing staff to focus on their primary job activities. Improving network speed is a primary objective for an IT service provider since it allows employees to execute their job obligations more quickly and efficiently.

Reduced Cyber Attack

Cyber attacks may create massive data leaks and destroy the business’s brand. Many of these cyber attacks are aimed at breaking into networks to steal vital information. The impact of cyber assaults can be controlled by collaborating with a managed service provider that provides cyber security monitoring services like Intone. Any strange activity within your network can be identified early and can prevent a cyber attack from spreading to other regions and creating significant damage.

You might also be interested in reading about Everything You Need To Know About Cybersecurity Framework.

Real-world examples

1. Target (2013 Data Breach)

In 2013, Target suffered a massive data breach that compromised the credit card information of approximately 40 million customers. The total cost of the breach reached about 292 million including settlements, legal fees, and recovery efforts. Target settled for 18.5 million with 47 states and faced numerous lawsuits, which further strained its finances. The breach also led to a nearly 50% drop in profits during the fourth quarter of 2013 compared to the previous year.

2. Sony Pictures (2014 Cyber Attack)

In 2014, Sony Pictures experienced a cyber attack that resulted in the leak of sensitive employee data and unreleased films. The estimated financial impact of this breach was around $100 million, factoring in costs related to system repairs, legal fees, and reputational damage. The incident prompted Sony to improve its cybersecurity measures significantly to prevent future attacks.

These examples highlight the substantial financial repercussions organizations can face due to cybersecurity breaches and the importance of effective monitoring and protection strategies.

Why Choose Intone Continuous Control Monitoring (iCCM)?

Cyberattacks have become a major threat, with cybercrime increasing by 600% due to the COVID-19 pandemic, highlighting the urgent need for secure IT infrastructure and effective data management. Intone addresses this need with a comprehensive continuous control monitoring plan that offers an end-to-end enterprise platform integrating security, risk management, incident management, and compliance into one solution. Our platform connects with over 240 industry-standard data sources and features a low-code/no-code interface for ease of use. It includes automated systems for risk management and incident resolution, real-time reporting, SSL and AES 256-bit encryption for data protection, and strong cybersecurity infrastructure. We provide extensive regulatory compliance solutions to ensure adherence to current requirements while protecting sensitive data through robotic process automation.