Threat Analysis in Cybersecurity

It takes more than six months for most organizations to discover data breaches, including big names such as Facebook, Capital One and Equifax. However, more than 77% of organizations do not have any form of cybersecurity threat analysis or cybersecurity incident response plan in place, despite more than 54% of companies having been attacked in the past year.

So why is threat intelligence so important for your business in 2020? Let's try to understand this question and make recommendations as simple as possible. 

What Is Threat Analysis?

Threat intelligence refers to the practice of gathering data to inform an organization about potential security (cybersecurity) threats.

You can use threat analysis to collect information about online attacks that may have occurred in the past, are currently happening, or could happen to your company in the future. 

By leveraging threat analysis, you can better understand potential vulnerabilities and prioritize security measures to mitigate and reduce the impact of these threats.

Threat data can be divided into two groups: internal and external.

Internal threat intelligence involves analyzing data from a company's own network. This includes aspects such as event and application logs, DNS logs, and other sources. 

External threat intelligence focuses on finding information about threats from various external sources. These can be found in reports, blogs, public news, or even private and commercial information sources.

Why Is It So Important to Study Threat Analysis?

When it comes to digital security, threat analysis is one of the most critical elements. This is because it provides essential information needed to secure a company’s IT infrastructure.

According to Fundera, cybersecurity statistics highlight the importance of focusing on information security, which has become an everyday concern in 2020:

• 43% of cyberattacks target small businesses.
• 60% of small businesses that fall victim to cyberattacks shut down within six months.
• Cybercrime costs small and medium-sized businesses over $2.2 billion annually.
• Last year, the number of new computer breaches in small businesses increased by 424%.
• Healthcare is one of the industries most vulnerable to cyberattacks.
• 66% of small businesses are concerned or highly concerned about cybersecurity risks.
• 14% of small businesses rate their ability to mitigate cybersecurity risks and attacks as highly effective.
• 47% of small businesses do not understand how to protect themselves from cyberattacks.
• 66% of small businesses are most worried about customer data breaches and privacy concerns.
• 3 out of 4 small businesses say they lack staff to address information security issues, accounting for 75% of all companies.
• 22% of small businesses encrypt their databases.

The Human Factor and System Failures Account for 52% of Data Security Breaches

In other words, the main danger and the main risk is still a person — a user or an employee of the company. And also software, which often becomes unreliable in a very short time. Even if you have basic standard measures in place, this is unlikely to be enough to keep your security team up to date with the latest cybersecurity threats. With the nature of online threats constantly changing, monitoring threat intelligence is critical for any organization. That's why most information security professionals recommend connecting to a 24/7 monitoring and analysis service. 

The main reason for threat intelligence is that it allows security professionals to better understand an attacker's thought process. The data collected reveals the methods, tactics and procedures used to carry out an attack. Essentially, this leads to improved security measures, including monitoring, identification and response times.

Types of Threat Intelligence and Analysis in Cybersecurity

There are various types of threat intelligence, which we have categorized into three main types.

Tactical

This type of threat analysis focuses on what might happen in the near future. It helps security teams determine whether existing programmes are effective in detecting and preventing threats. When it comes to threat intelligence, tactical threat intelligence is the most basic form as it is automated and the simplest to generate. It allows companies to assess the likelihood of being attacked based on the methods hackers are currently using.

Strategic Cyber Threat Analysis

Strategic threat intelligence is based on open source data, meaning it is readily available to the public. This includes national and local media, reports, security ratings, online activity, articles, and official documents.

This type of analysis is typically aimed at non-technical audiences, including board members or stakeholders, and informs them about elements such as security assessments or the potential impact of business decisions.

Operational

Operational threat intelligence analyzes past attacks and answers critical questions such as who, how, what, and when. By studying past incidents, it becomes easier to predict how and when future attacks might occur.

Benefits of Threat Analysis

Threat analytics provide immense value to the security of companies and organizations, both large and small. Risk analysis, fraud prevention, and other high-level security measures are all enhanced through threat analysis. What do you think about this? If you have any suggestions or comments, join our Facebook page — we’re always happy to connect!

Yours, Datami.ua