Data Analytics in Cybersecurity: Challenges & Opportunities
Date: 20 March 2023
Data Analytics and Cybersecurity are different domains that can work hand-in-hand to achieve the overall goal of improved data security and better business decisions.
The transformation of the technology sector has dramatically contributed to the adoption of data analytics and cyber security for predictive analytics and enhanced information security.
According to researchers, approximately 80% of global companies recommend the application of data analytics across all business industries. This is due to the benefits and advantages that come with data analytics when it is implemented correctly. The application of data analytics in cybersecurity is tailored to enhance security against cyber threats.
When you generate large sets of data, it means that you also create a wide room for cybercriminals to attack you. This is why you need data analytics to help you evaluate the data sources and analyse the chances of a cyber attack on your organisation. There is a need for organisations to evaluate how their data flows from one point to another. This helps eliminate cases of attacks on critical infrastructure and sensitive information.
Descriptive analytics can also help you gauge how prone you are to be attacked. This may work as an eye-opener for many businesses. It can propel them to work on their Cyber Incident Response plans and strategies immediately.
Many may need help in creating or updating their existing, cybersecurity plans, cybersecurity policies and procedures. They can always opt for hiring cost-effective virtual cybersecurity experts to do this for them.
Data analytics in cyber security plays a central role in crawling through the datasets and unstructured data and identifying any anomalies. Hackers are always on the lookout to find new means that can enable them to penetrate into your company operations. The reality is that there are opportunities and challenges in data analytics in cybersecurity. It is essential for companies to evaluate all these aspects to be on the safe side.
This article discusses a fair share of the challenges and opportunities of data analytics in cyber security. Read on for more information!
Opportunities of Data Analytics in Cybersecurity
The opportunities of data Analytics in cybersecurity help business owners recognize some strategies they can use to limit cyber attacks and ransomware attacks on their businesses. Below are some of the major applications of data analytics in cyber security that business stakeholders can adopt.
- Keeping Targeted Marketing Safe
The number of companies using data analytics has dramatically increased over the past few years. However, there are concerns about the sanctity of customers’ sensitive data. Data analytics enables marketing businesses to streamline their endeavours and target their ads to specific market audiences. Some of the biggest companies worldwide, such as Google, use this approach to enhance the targeting of their ads.
The application of data analytics in cybersecurity helps to ensure that the consumer's personal data is not tampered with by hackers. Data analytics can give you access to vital data that can help improve your marketing efforts while keeping customer information and the reputation of your business safe.
- Enabling Better Decision-Making
The adoption of data Analytics across the globe has changed how businesses are conducted across industries. Most companies use this strategy to increase their market outreach and elevate their targeting methods.
In the past, companies were operating blindly, making decisions based on instincts and thoughts. This has dramatically changed following the application of data analytics to help business stakeholders understand their target audience better. Basically, data science has created massive opportunities thanks to the business intelligence it can lead to.
With data analytics in place, business stakeholders can collect real-time data from the respective target audiences and use it appropriately. Decision-makers get access to accurate information that can be used to guide them on the best solutions to existing problems.
This technology also helps in analysing large data sets to evaluate any suspicious trends and patterns that are likely to hinder the security status of the business. Moreover, technology has helped businesses to capture leads more effectively.
You can also use the strategy to predict more about the future of your business and the existing opportunities available across the industry. If you are planning to invest in any sector, you can use this approach to help you analyse possible profits over the long term.
- Elevating Security Standards
The increased adoption of technology and digital tools has, unfortunately, put privacy of consumers' data at perennial risk. Most customers never feel safe in sharing their personal information since they do not trust any company. Due to multiple data breaches across industries, companies have established different strategies to safeguard their consumers' data.
The application of data analytics offers a lasting solution that can help you limit cases of data breaches and safeguard your business reputation. When consumers share their personal information with your business, it is your responsibility to ensure that the data is safe and stored appropriately. Data analytics can crawl across large data sets and detect any unusual activities that can compromise your network security and/or sensitive data.
Challenges of Data Analytics in Cyber Security
Regardless of the number of opportunities and advantages that come with data analytics in cyber security, there is also a fair share of challenges across the industry. It is essential to understand these challenges to fathom how you can tackle such scenarios once you invest in data analytics.
One of the major challenges of data analytics is the lack of reliable data analysts within the industry. Given the high demand for data analysts who can help make sense of large data sets, there is a massive talent shortage. There are only a few professionals who understand how to visualise large data sets and extract meaningful information that can be used by decision-makers.
The lack of enough professionals to do this job has increased security challenges for companies requiring in-house data management.
Maintaining a safe business environment in the current threat landscape is difficult since hackers are acquiring more sophisticated attack mechanisms every day. The more data sets you generate, the more security challenges you create for yourself.
This is one of the major challenges for companies operating in the healthcare and finance sectors. There is an increase in the number of cases related to identity theft, credit card theft, breaches of physical security devices, and many others.
Any company that generates large volumes of data is in higher need of cyber security requirements. All organisations, large and small, are struggling with this challenge since they accumulate a lot of data on a daily basis which is not worked on correctly.
The application of data analytics in cybersecurity is a game changer that helps many businesses across the globe maintain a safe environment for their daily activities. Most companies struggle to find meaning even in quality data due to the lack of systems and professionals to help them get the job done.
Data visualisation helps companies to transform large volumes of data sets into actionable insights that can be utilised by business stakeholders during the decision-making process.
If you have an objective to create a favourable environment for your business, utilising data analytics in cybersecurity is one of the most promising solutions. However, when putting systems in place, you also need to be fully aware that there is a fair share of opportunities as well as challenges that you need to keep up with.