The media coverage of the WannaCry ransomware worm has reinvigorated interest in learning more about cybersecurity companies. Individuals may be interested in investing in such companies. Enterprises may be interested in the services that cybersecurity companies offer. Small businesses may be overwhelmed with the choices of companies offering these services. As a technology attorney who works with cybersecurity companies of varying sizes and capabilities, I have noted a few considerations for anyone researching a cybersecurity company.
Today on the JP, Kathy and The Crew radio show that is broadcast on 620 AM KEXB, I discussed three factors for determining the long-term viability of a cybersecurity company. Threat actors can be anyone from an opportunistic hacker, to organized criminal gangs, to state sponsored actors all with the capability to cause serious technical damage and financial harm.
When researching enterprise-level cybersecurity companies, consider the following:
Integration of Big Data into the Solution
To keep the pace with the complex intrusion techniques, utilizing the advantages of big data is nearly imperative. Big data is used to provide insights by compiling an extensive variety of data and finding interesting ways to present the data. It takes a highly technical and sophisticated organization to collect and use big data in meaningful ways. Cybersecurity companies not utilizing big data likely cannot perform the analytics necessary to detect and prevent attacks.
Utilization of Artificial Intelligence
AI in cybersecurity is a about making automated decisions. Machine learning is a growing component of AI. AI can be used for predicting intrusions based on anomalies in network activity. When AI is coupled with big data and experienced human analysts, the result can be a significant amount of threat deterrence.
Performing Behavior Analytics
Behavior analytics is about profiling users, discovering patters, and detecting activities that mirror threat activities. Employing big data and AI as the foundation of behavior analytics can be a powerful combination. Cybersecurity companies that are committed to incorporating these concepts into their solutions appear to have the most viability for defending enterprises against sophisticated threat actors
Small businesses should not be discouraged by the complexity of the services offered to the extent that they avoid implementing solutions. There are managed service providers that offer cybersecurity services as part of their services, and some MSPs are solely dedicated to cybersecurity. MSPs are often small businesses that understand the needs and budgets of non-technical small business operations that need their cybersecurity services. MSPs can also offer a local contact and personal touch for customizing a solution to protect what is most important to the business. Additionally, some MSPs offer as a third-party reseller solutions that incorporate the enterprise-level concepts above.
Businesses considering utilizing the services of a cybersecurity company should consider consulting a cybersecurity lawyer with education and experience in the cybersecurity space to assist with executing agreements between the businesses and mitigating risks in adopting such solutions.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
