Can Data Analytics Be The Solution To Cybersecurity Problems?

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The problems of cybersecurity are of great concern to all stakeholders. This apprehension is justifiable as studies show that as of 2022, security breaches in businesses have increased by 27.4%. With data analytics, however, there seems to be a solution in view. Whether or not the solution is permanent or short-lived is yet to be determined. 

This article looks into the problems of cybersecurity and how they affect businesses and individuals.  It also holds a microscope on the solutions data analytics brings to the table.

Will these solutions be long term or will they blow over as soon as cyber criminals figure out how to bypass them? 

Top 8 cybersecurity problems

With the advancements of the internet, cybersecurity has become more important than ever. Cybersecurity has to do with defending systems, servers, networks, devices and programs from hostile cyberattacks. 

Can Data Analytics Be The Solution

However, cybersecurity has not been without challenges. Keeping data safe is now one of the most essential duties of organizations and this has not been an easy ride. It’s the reason companies compare database management systems to see which offers the best protection. Find below the top 7 cybersecurity problems facing businesses and individuals.

Ransomware attacks

Ransomware is a form of malware that converts information into a secret code in a bid to make it unavailable or useless. In other terms, this file becomes corrupt. This corrupt file is then used by the cyber criminals to demand a ransom with the promise to decrypt it when payment is made.

Ransomware attacks

Further, a threat is made by the hackers to sell or reveal the information in the file if the money demanded is not paid. 

Synthetic identity fraud

Synthetic identity fraud is well treated in this article by seon.io.  It is one of the top cybersecurity problems we have. It happens when a cyber criminal creates a fake identity, using fake or real (or a combination of both) data. This new identity is then used to commit fraud. This synthetic identity is also called Frankenstein  ID

Phishing attacks

Phishing attacks occur when hackers steal user information. This information may be credit card numbers and log in details, among others. After accessing sensitive user data, these hackers then go ahead and commit crimes like illegal money transfers or online shopping.

During phishing attacks, the criminal usually sends emails that look legitimate to an unsuspecting victim. When the victim clicks on the link, they become exposed to malware. 

Cloud attacks

Off-site service providers store many different forms of data, including sensitive information about customers or business operations in the cloud. This data can be breached or damaged by cyber criminals.

Therefore, a cloud cyber attack is any attack that targets off-site service providers that use their cloud infrastructure to provide hosting, computing, or storage services. Examples of cloud attacks are attacks on service platforms that use service delivery models like SaaS, IaaS, and PaaS paradigms.

Vulnerability of software

Due to the rapid and growing adoption of digital tools and gadgets, software have become more vulnerable and exposed to risks than ever. Individuals and businesses seldom do regular updates of their software, exposing their devices to cyber criminals.

The latest versions of software sometimes have improved security updates, therefore, not updating to the latest version might compromise devices.

Inside attacks

Even though the majority of cyber security risks for organizations are external, some are inside jobs. In such situations, workers with ulterior motives transfer or leak private information to business rivals or third parties for personal gains.

Inside attacks

Insider attacks could ruin the business’s reputation or cause severe financial loss. This has prompted businesses to seek different types of anti-fraud measures as a means of protection.

Blockchain attacks

Blockchain has come to stay. Unfortunately, so have cyber attacks on them. Hackers target obvious vulnerabilities in the blockchain infrastructure and exploit them. They carry out these attacks in several ways. 

One such way is through phishing. Wallet key owners receive emails supposedly from legitimate sources. These emails contain fake hyperlinks and ask for the victims’ credentials. These cyber criminals get access to sensitive information of the unsuspecting owners and use the data to defraud the owner and/or the blockchain network.

Another way blockchain attacks are carried out is through routing. This is possible due to the nature of blockchain; they depend on huge data transfers in real time. Hackers then intercept this data in the course of it being transferred to ISPs. To the blockchain members, nothing is amiss, however, these cyber thieves would have already stolen sensitive currencies or information.

Shortage of cybersecurity experts

The scarcity of professionals in the cybersecurity field is one of the challenges facing cybersecurity. To fight the advanced and refined threats being devised regularly by cyber criminals, cybersecurity experts are needed. However, there are few professionals available to tackle the massive attacks. This has made these cyber criminals get away with many of their crimes.

The data analytics solution

Data analytics is about managing data via its collection and storage. In addition, it has to do with the methods, procedures, and instruments that facilitate data analysis. Data analytics has been called to the rescue in the case of cybersecurity challenges. This solution is referred to as cybersecurity analytics.

Cybersecurity analytics is basically the application of data analytics in cybersecurity. It involves using mathematical models and data to track and manage cybersecurity data systems. It also helps spot gaps, leaks and risks in cybersecurity. This marriage of cybersecurity and data analytics aid in gaining insights that can be used to anticipate, recognize, and stop cyberattacks. 

Here are ways data analytics or cybersecurity analytics solves cybersecurity problems:

Automatic threat intel

Cybersecurity analytics enables the automation of threat intel. It makes data collection easier and quicker. This eliminates manual data gathering and frees cybersecurity experts to focus on more essential tasks. 

Enhanced forensic analysis

Enhanced forensic analysis

Data analytics produces better forensic investigation and analysis. This is done with the help of improved data. With cybersecurity analytics, it is easier to make the right decisions regarding issues like prioritizing vulnerabilities and the identification of potential threats.

Advance detection

Businesses are always looking for the best ways to manage fraud. Data analytics helps in this regard.  As mentioned earlier, cyber criminals take advantage of vulnerabilities in any data system and exploit them.

Cybersecurity analytics puts a stop to this or limits it to the barest minimum. With cybersecurity analytics, experts are able to foresee these loopholes and block them before hackers wreak havoc. 

Organized alerts and notifications

Data analytics in cybersecurity prioritizes alerts and notifications and determines which of them are more important so that actions can be taken regarding them. This function saves time and enables security professionals to work on activities that are valuable instead of attending to needless notifications.

Quicker response to threats

Cybersecurity analytics lets businesses respond to threats and potential ones faster. Conventional cybersecurity methods take longer to detect or act on threats. Data analytics, however, is faster. With it, it is possible to identify and act quickly and timely on potential cybersecurity risks.

Compliance with standards and regulations

With cybersecurity analytics, it is easier for businesses to comply with industry and government guidelines. Just like data virtualization, the processes involved in data analysis naturally let organizations follow regulations laid down by relevant bodies and the government. 

Steps in applying cybersecurity analytics

The following are steps to take in applying cybersecurity analytics to your business:

Data collection

Data collection

It is necessary to compile all necessary data in a business’s network and file it in a single document. The information must be kept in cloud-based archives and other storage facilities that cyber criminals would have difficulty accessing.

Data classification and sifting

Here, you normalize data with the use of traditional security taxonomy. Carry out grouping for fields that have common values and names. With this, you streamline search capabilities.

Enhancement of data

At this stage, proceed to boost and improve your data with data from both internal and external sources. For internal data, use data from business tools and websites, among others. For external sources, make use of data from open source feeds and machine data, among others. 

Process automation

Automation plays an essential role in achieving the objectives of both data analytics and cybersecurity. The reason for this is the necessity of real-time insight generation. With automation, you analyze faster and draw quicker and better data insights. This makes analysis easier. Automation is also used to deliver the right response in case there’s a threat. 

Identification and detection

Identification and detection

This is the stage where you apply various threat detection methods and procedures. Here, you research theories and execute research. Note that at this point, you must identify the right type of strategy for detection to get effective results.

Final thoughts 

Daily, cyber criminals devise ways to bypass technologies created to put an end to their activities. Businesses and other stakeholders in the internet space are however not relenting in coming up with counter-measures to tackle these hackers. 

The application of data analytics in cybersecurity has proven to be very effective. It gives automatic threat intelligence, improves forensic analysis, facilitates early detection of threats, prioritizes alerts, helps to respond to threats fast and ensures compliance with regulations and standards.

However, only time will tell how long data analytics will stay effective as a solution to cybersecurity problems.

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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