what is SIEM?

As technology changes, your business needs simple solutions to protect sensitive data. With the average cost of a malware attack reaching millions of dollars, your business can’t afford downtime or lost revenue.

At the same time, you’re not a tech expert, and maybe you don’t have one on your team. But cybersecurity is necessary for any modern business with operations touching the internet and cloud services. So, what do you do?

No matter the size of your business, SIEM solutions are highly effective, affordable, and scalable. Let’s look at what SIEM means and why you should consider a solution for your business.

What is SIEM?

SIEM (pronounced SIM) stands for Security Information and Event Management and has been around since the mid-2000s. The tool evolved from simple log management solutions. SIEM was created to combine SEM, which provided threat monitoring and incident response, with SIM, which collected, analyzed, and reported on log data.

This combination of tools was needed because it could take several days to months to identify a data compromise. The security tools would generate millions of security alerts over the course of a day. Your company was vulnerable to attacks without any way to categorize and streamline those alerts. A SIEM solution filters out the noise, so the real threats get immediate attention.

A SIEM solution identifies activities outside the normal activities on your company’s network and then acts. An example would be a user account on your network that generates 25 failed login attempts in 25 minutes. A SIEM would flag this activity as suspicious and then report it to prevent harm to your business.

Did You Know?

It can take several days, even months, to identify a data compromise. Modern security tools can generate millions of security alerts over the course of a day. A SIEM solution filters out the noise, so the real threats get immediate attention!

Why a SIEM is Good for Business

With today’s ever-evolving cybersecurity landscape, a SIEM solution is critical in staying ahead of the latest threats. And while every business can benefit from a SIEM, those that must comply with industry and government regulations and those looking to qualify for cybersecurity insurance will find it essential.

Implementing a SIEM solution will help your business get better visibility across your entire network, identify malicious activity quickly, then notify your support staff for fast remediation. SIEM improves incident management by helping uncover the route an attack takes across the network, identifying the compromised sources, and providing tools to prevent the progress of the attack.

A SIEM platform will also help your business with compliance. Compliance with regulations requires documentation and reporting. A SIEM solution provides centralized, built-in, easy-to-use, real-time log collection, alerting, and reporting features. It can’t get any simpler than that.

How Does it Work?

Check out this short clip on how SIEM works!

Common Features 

Some solutions may include tools like AI, Forensic Capabilities, and Threat Intelligence Feeds. However, the foundation of all SIEM platforms should consist of the following.

  • Data aggregation: data is collected and monitored across your company’s network, including applications, servers, and databases.
  • Correlation: refers to the tool finding similar attributes between different events.
  • Dashboards: these are where you can view the collected and aggregated data. This data is displayed in charts to help you find patterns and to avoid missing critical events.
  • Alerting: SIEM tools will notify users when a security incident is detected.
  • Automation: may be included within your SIEM solution, such as automated security incident analysis and incident responses.

Risks of Not Using SIEM

Any business leveraging the internet or cloud services is vulnerable to cybersecurity threats. Protecting your business from today’s frequent, costly threats requires a dedicated resource focused solely on safeguarding sensitive data and critical business systems. But what happens if you don’t have something like a SIEM?

Operating a modern business without a SIEM solution puts your company in a direct line of cyberattacks. These cyberattacks can lead to downtime and lost revenue. Accenture says, “The average cost of a malware attack on a company is $2.6 million.”

And if you think we’re a smaller business, no one would want to steal our sensitive data. You’d be incorrect. Verizon reported that “46% of all cyber breaches impacted businesses with fewer than 1,000 employees.”

Did You Know?

The average cost of a malware attack on a company is $2.6 million and that 46% of all cyber breaches impacted businesses with fewer than 1,000 employees!

Benefits of SIEM

At a glance, the benefits include aggregate logs, meeting compliance regulations with less investment, and you can see all your network, log data, and threat activity in a single area. You can also outsource your SIEM using a Security Operations Center or SOC.

When working with a SOC, your business experiences a level of cybersecurity protection that you never experienced before due to the subscription-based model. Using the SIEM/SOC approach makes cybersecurity for your business affordable and scalable.

The combination of SIEM SOC provides:

  • Intelligent threat hunting, detection, and response
  • 24/7/365 expert threat analysis and remediation
  • Industry compliance and audit reporting standards
  • Cybersecurity insurance coverage criteria

Common Misconceptions about SIEM

Even though SIEM is a powerful solution to help fight against cyberattacks, you should understand the following.

SIEM is just a tool: SIEM is often associated with a single piece of technology that will solve all your problems. However, SIEM is meant to strengthen your company’s security intelligence capabilities. 

SIEM is only for audit and compliance: The solution empowers organizations to detect threats before they cause serious harm, but it doesn’t just happen when implemented. It requires a shift from compliance-centric views of security to a risk-aware culture.

It will prevent attacks: Yes, it will help to prevent attacks, but the primary purpose is to detect unusual activities and then report that suspicious activity to a security analyst.

SIEM is a silver bullet: There’s no magic bullet to stop attacks. SIEM requires ongoing tuning to work effectively. Data needs to be continuously collected and defined, and the appropriate correlation rules applied.

We Make it SIEM-ple

ONE 2 ONE is a Co-Managed Threat Detection and Response Platform. ONE 2 ONE detects, while our Security Operations Center (SOC) responds. You have full access to view your alert data and can even have your team analyze it alongside us.

We baked our customers’ most-requested SIEM features into the ONE 2 ONE platform. Now you can access these features directly within ONE 2 ONE:

Collect – ONE 2 ONE brings all your logs into a single pane of glass right next to the network data you’re already sending us.

Detect – Add log metadata to reveal behavior patterns and identify potential brute force and other attacks.

Respond – Search for anomalous events, and generate reports and charts to share with clients.

Still, have questions about SIEM?

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