A Novel Model for Cybersecurity Economics and Analysis
Rathod, P., & Hämäläinen, T. (2017). A Novel Model for Cybersecurity Economics and Analysis. In CIT 2017 : 17th IEEE International Conference on Computer and Information Technology (pp. 274-279). IEEE. https://doi.org/10.1109/CIT.2017.65
© 2017 IEEE. This is an author's final draft version of an article whose final and definitive form has been published by IEEE. Published in this repository with the kind permission of the publisher.
In recent times, major cybersecurity breaches and cyber fraud had huge negative impact on victim organisations. The biggest impact made on major areas of business activities. Majority of organisations facing cybersecurity adversity and advanced threats suffers from huge financial and reputation loss. The current security technologies, policies and processes are providing necessary capabilities and cybersecurity mechanism to solve cyber threats and risks. However, current solutions are not providing required mechanism for decision making on impact of cybersecurity breaches and fraud. In this paper, we are reporting initial findings and proposing conceptual solution. The paper is aiming to provide a novel model for Cybersecurity Economics and Analysis (CEA). We propose an innovative model for an optimal cybersecurity cost-benefit framework to help decision-making based on a combination of qualitative and quantitative analysis of the cybersecurity risks and their impact on organizational tangible and intangible assets. Cybersecurity Economics and Analysis utilizes a holistic approach to cybersecurity, proposing a model based on a deep and comprehensive analysis of organisations’ security – considering not only technological perspectives, but institutional, economic, governance and human dimensions – taking forward existing ‘best’ and effective practices from national audit frameworks, sectoral guidelines and organisational policies. This new solution will account for the wants and needs of various stakeholder groups and existing sectoral requirements. We will contribute to increasing harmonization of European cybersecurity initiatives and reducing fragmented practices of cybersecurity solutions and also helping to reach EU Digital Single Market goal. By introducing Cybersecurity Readiness Level Metrics the project will measure and increase effectiveness of cybersecurity programs, while the cost-benefit framework will help to increase the economic and financial viability, effectiveness and value generation of cybersecurity solutions for organisation’s strategic, tactical and operational imperative. The ambition of the research development and innovation (RDI) is to increase and re-establish the trust of the European citizens in European digital environments through practical solutions. ...
Parent publication ISBN978-1-5386-0958-3
ConferenceIEEE International Conference on Computer and Information Technology
Is part of publicationCIT 2017 : 17th IEEE International Conference on Computer and Information Technology
Publication in research information system
MetadataShow full item record
Showing items with similar title or keywords.
Value-added bioproducts or renewable energy derived from lignin? : comparative regional economic and environmental impact assessment : case Metsä Group's bioproduct mill in Äänekoski Rannisto, Anna (2016)Metsä Group’s next-generation bioproduct mill in Äänekoski will be operational within Q3/2017 and it will have significant regional economic impact on Central Finland. The mill will operate applying principles of circular ...
Leveraging the benefits of big data with fast data for effective and efficient cybersecurity analytics systems : A robust optimisation approach Rathod, Paresh; Hämäläinen, Timo (Academic Conferences International, 2020)In recent times, major cybersecurity breaches and cyber fraud within the public and private sectors are making international headlines. Majority of organisations are facing cybersecurity adversity and advanced threats. On ...
Simola, Jussi; Lehto, Martti (Academic Conferences International, 2020)The research will find out feature-based functionalities concerning the national cybersecurity system HAVARO and how the system is possible to implement to the EU level early warning system. The research based on interviews, ...
Tohmo, Timo (University of Jyväskylä, 2007)This dissertation consists of nine empirical studies which seek to broaden understanding of Finnish regional economic structures. These studies are divided between two topics: 1) regional specialization and industrial ...
Quantifying trade-offs between ecological gains, economic costs, and landowners’ preferences in boreal mire protection Nieminen, Eini; Kareksela, Santtu; Halme, Panu; Kotiaho, Janne Sakari (Springer, 2021)Private land often encompasses biodiversity features of high conservation value, but its protection is not straightforward. Commonly, landowners’ perspectives are rightfully allowed to influence conservation actions. This ...