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The Ultimate Guide to Cyber Risk Data 2022
What is Cyber Risk Data?
Cyber risk is information about cyber attacks and data breaches which affect businesses and organizations, as well as individuals. Cyber risk data can be historical, which tells users about a business’ previous track record when if comes to cyber security and digital hygiene. Or, it can be predictive cyber risk data, which is used to calculate the likelihood of a future digital breach based on the cyber risks facing the organization or individual, and the security systems they have to defend their assets.
How is Cyber Risk Data collected?
Cyber risk data collection methods vary depending on whether the data supplies information about a business or an individual. Cyber risk data concerning individual internet users is usually collected automatically using web crawling and scraping services. This allows cyber risk data proivders to compile databases of compromised email addresses and personal details. For businesses and organizations, cyber data proivders consult documents like due diligence reports and technographic statements to evaluate the strength of the company’s cyber security. Underwriting process reports will also list any historical data breaches in detail, so cyber risk data providers use these to analyze the metrics and factors which affect a business’ risk profile.
What are the attributes of Cyber Risk Data?
A cyber risk dataset is comprised of a range of attributes. Here are some common cyber risk data attributes:
GRC (governance, risk, compliance) Rating - businesses and organizations can be assigned a GRC score based on how their level of compliance with industry regualtions and track record when it comes to coporate governance and risk management.
Threat Intelligence - forecasts and predictive models which anticipate the likeloohd of a cyber attach or attach breach.
Previously Compromised Profiles - for individual web users, this data attribute displays which individuals have already suffered a cyber attack or data breach and had their personal information leaked.
What is Cyber Risk Data used for?
Cyber risk data is useful for businesses and individual web users alike. It can protect both financial and personal assets, making it a valuable data type for a range of audiences and use cases. Some of these use cases include:
Enhanced Due Diligence - investors and business owners can optimize their due diligience procedures using cyber risk data. External cyber risk data can highlight risk areas which would’ve otherwise gone unnoticed, meaning investment and businesses are as well-informed and data-driven as possible.
Internal Risk Assessment - for businesses, hiring external consultants to carry out risk assessments is a costly use of resources. They can reduce their expenditute by buying cyber risk data directly from a data provider and conduct their own, interal audits to identify risk areas at a lower cost.
Investing - for investors, ESG and GRC are becoming more and more important as factors affecting stock price. Strong digital security is a core part of both, as data breaches can have a hugely negative impact on a comapny’s stock price. So investors use cyber risk data to ensure that they select portfolios which aren’t ESG or GRC-compromised when it comes to digital hygience.
Personal risk manangement - for individual web users, cyber risk data is important to keep their personal details private, and make them aware when they have been the victim of a data breach. Cyber risk data feeds can notify users immediately if this is the case.
How to assess the quality of Cyber Risk Data?
High-quality data providers for cyber risk data will be able to give testimonials or examples when their data has been effective in tracking and predicting future data breaches and cyber attacks. Also, cyber risk data providers shoould ensure that their data is updated in real-time, to ensure that it reflects the current global situation when it comes to digital hygiene, so that businesses and individuals affected by data breaches can respond immediately. Look out for proivders with certificates and badges from independent bodies, such as Certified Information Privacy Professional and Certified Information Security Manager. These indicate that the provider uses privacy-compliant collection methods and supplies ethically-sourced, accurate cyber risk data.
Where can I buy Cyber Risk Data?
How can I get Cyber Risk Data?
You can get Cyber Risk Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Cyber Risk Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Cyber Risk Data APIs, feeds and streams to download the most up-to-date intelligence.