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How To Select A SIEM Solution For Your Business?

  • deepti

  • March 23, 2021, 1:28 p.m.

What is SIEM?

SIEM stands for Security Information and Event Management that collects, aggregates, and analyses activity from different resources across the entire IT infrastructure of the organization. It collects security data from network devices, servers, domain controllers and more. It provides organizations with next-generation detection, analytics, and response.

It provides information of utmost importance but the critical decision lies in how to choose the right SIEM solution for you. Several factors are involved in deciding the ideal SIEM solution for your business.

How SIEM helps to address cybersecurity?

Information security threats are one of the most challenging issues in today’s era of information overload. Here are some eye-opening facts about cybersecurity threats-

  • Around 95% of cybersecurity breaches are caused due to human errors. (Cybint)
  • The worldwide information security market is expected to reach $170.4 billion in 2022. (Gartner)
  • In 2019, approximately 88% of organizations worldwide experienced spear-phishing attempts. (Proofpoint)
  • Around 68% of business leaders feel that cybersecurity risks are increasing. (Accenture)
  • On average, only 5% of companies’ folders are protected properly. (Varonis)
  • The data breaches exposed 36 billion records in the first half of 2020. (RiskBasedSecurity)
  • 86% of breaches were financially motivated and 10% were motivated by espionage. (DigitalGuardian)
  • 45% of breaches involved hacking, 17% involved malware and 22% involved phishing. (Verizon)
  • Between January 1, 2005, and May 31, 2020, there have been around 11,762 recorded breaches. (ID Theft Resource Center)
  • The top malicious email attachment types are .doc and .dot that account for 37%, the next highest is .exe at 19.5%. (Symantec)
  • An estimated 300 billion passwords are used by humans and machines worldwide. (Cybersecurity Media)

In this context, it becomes crucial to invest in the right SIEM solutions for continuous data protection and uninterrupted business success.

“Prevention is better than cure”. When the right solution is in place, the organizations can only identify and protect themselves from cyber attacks but also mitigate threats attached to them before any major data leak happens.

So, it is important to employ SIEM security solutions for your business.

How to select the right SIEM solution for your business?

Here are some factors that the organization should consider while choosing the right SIEM solution for your business-

Threat Reporting, Intelligence, and Analytics

You should consider how the SIEM tools combine data with security operations and apply ML and AI to the data generated. It can enhance the process through its ability to learn from the environment. It gives organizations an edge in performing specialized tasks.

Manage Logs

A good SIEM tool should collect various logs from different sources, store them in a centralized location and manage the collected information according to the requirement of the security team. Every log generated should be analyzed.

Correlation of Security Incidents

The SIEM security tool should have the capability to correlate security events and detect threats based on the correlation equations given. For instance, if there is a serious attack then the tool has to detect it at an early stage, fetch the logs and make a record of the series of events and stamps with the generation of high alerts.

On-time Detection

Time is of the essence when it comes to cybersecurity. For example, when a DDoS attack brings down the websites and systems of the organizations, organizations should be able to recover in the shortest time possible. If the downtime is longer then it would cause greater damage to the reputation of the company and its revenue.

Track All the Events and Activities

An ideal SIEM security solution identifies addresses, behavior, IPs, and websites that are related to malicious attacks and dangerous third parties. A part of cybersecurity requires the latest data to prevent attacks and the potential damage it causes to the organization's system. This should be an integral quality of this application.

Additional Data

The cloud SIEM should be able to acquire additional data about the security events beyond only log compilation. Any kind of additional data provided will be useful to detect the source of the attack. The additional details such as the origin of the said traffic, how this traffic was created, what it did to help mitigate the risk attached to the security threat are crucial.

User Friendly

It should be noted that the SIEM solution should have a convenient interface. Ease of use is a crucial advantage that allows IT companies to access SIEM tools without navigating a clunky UI. Cybersecurity works on timely and accurate responses so it is crucial to navigating program tools as efficiently and quickly as possible.

Budget-Friendly

SIEM cloud solutions work based on the size of the organization. An ideal SIEM solution should also fit your budget. It is important to determine your solution needs before selecting a solution. You can consider factors such as whether they offer multiple servers for different data storages, flexible pricing plans, etc., and make the best use of them.

Final Thoughts

In today’s business era, cybersecurity determines a great deal of success for the organization. There are plenty of tools, software, and services to assist you with this but SIEM is one of the most important and effective tools. It helps generate accessible logs and comprehensive reports that are created to prepare organizations to defend themselves effectively against cyber-attacks. In cybersecurity, it is always better to remain prepared while facing cyber threats, and SIEM – either through software management or third-party – allows you to achieve this proactivity.

Anlyz’s SIEM tool CYBERAL provides real-time intelligence to help security teams scrutinize threats proactively with contextual insights to detect and identify inside or outside threat attackers. You get unparalleled analytics capability without any parametric constraints and a highly scalable, unlimited data lake. This enables analysts to easily zoom into and protect organizations against threats based on priority and policy.

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