2019 will be the year companies move beyond risk management as a standard measure

Cyber and other modern threats are becoming ever more complex, and companies need to analyse risk in a way that’s unique to their business, rather than as part of a standard profile that is…

2019 will be the year companies move beyond risk management as a standard measure

Cyber and other modern threats are becoming ever more complex, and companies need to analyse risk in a way that’s unique to their business, rather than as part of a standard profile that is seen across industries. To protect themselves, businesses will need to adopt a unique approach to risk management, for example, turning risk not only into a measurement metric, but an insight tool.

Businesses will need to ask themselves whether the insight gained from risk is actionable in the same way as traditional performance indicators (that is, by taking action) are. From that perspective, and looking at risk rather than product or service categories, businesses can start to build a greater understanding of their risk profile.

Risk management in its current form is an area of strength, and there is still a lot we can learn from it. At the end of the day, people focus on their own industry or business segments when it comes to risk. When looking at business security it often is. As a result, companies should be interested in assessing how they fit into the global community. In these scenarios, risk is often related to a product or service offering. That is a consequence of the social utility of a particular service, the co-ordination of service delivery, and the security environment within which that service operates. If a business has a strong reputation in a market where it delivers a highly differentiated service, then it stands to benefit from an adverse world outside that market. But if it doesn’t, then there is a risk to the brand if it becomes known as a company that is unresponsive to the vulnerabilities of that market.

Quick guide What is Project MD86? Show Hide Project MD86 is a storage management management suite (SMP) for organisations with high volumes of data, storage-intensive applications, and complex infrastructure. Developed by a consortium of nine large global businesses – Dell, Fujitsu, Fujifilm, HPE, IBM, Intel, Oracle and SAP – it is priced at $350,000 per seat.

SD-WAN (Software Defined Wide Area Network) technology is an important application in this software-defined data centre era for enabling business data to be securely shared across an enterprise through traditional and new connections. SD-WAN technology helps alleviate network constraints by delivering a network with seamless bandwidth, control and capacity.

By implementing traditional framework solutions, organisations are becoming increasingly dependent on the same vendors and applications for shared high-volume data across multiple data centres. We estimate that more than 55% of organisations surveyed are now using at least one vendor solution on which their business is focused. This fuels a competitive environment with data constantly moving from one location to another without maintenance checks. Using a leading data storage management suite for high-volume organisations, business data can be shared across multiple data centres from the same vendor in a way that is mobile, secure and manageable.

But the point of attack is continuously evolving. In the manufacturing industry for example, the web – and in turn automated manufacturing processes – has disrupted the supply chain and has accelerated the pace of change. This creates new vulnerabilities within manufacturing processes that businesses need to understand, be able to react to, and be able to prevent. Cybersecurity solutions focus on physical data. To mitigate this risk, manufacturers will need to protect data both physically and cyber. Agencies with a cyber mission that utilise digital and physical security solutions will also need to balance their cyber and physical mission responsibilities and measure their cyber and physical security performance in the same way.

Many users and organisations operate on a shoestring budget, which means companies are struggling to respond quickly to new threats. If they want to get ahead, they must do so quickly. Businesses should look at the data they use, and think about how they could be vulnerable to hacking, cyber, and physical attacks. If they use more than one vendor to address the security aspects of their data and their organisation’s safety and security, they will have more options, choices and insight.

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