What is the Importance of Security Information and Event Management (SIEM) in Business?

Enterprise Security Magazine Europe | Monday, October 12, 2020

Businesses are applying Security Information and Event Management (SIEM) because it offers better security for sensitive data.

FREMONT, CA: The IT sector has numerous systems that are used for protecting the enterprise’s sensitive data. But the Security Information and Event Management (SIEM) software accumulates every security log and data in a centralized location. This is done so that the previously conducted breaches can be analyzed to detect the security weaknesses and authenticate the audit records to strengthen the regulation. The SIEM software is developed on robust data management processes, and it is becoming the enterprise security professionals.

However, SIEM is not a new concept, and it has already been there for a while. The primary form of SIEM is considered to do four important things.

Top 10 SIEM Consulting/Service Companies in Europe - 2020• Regularize and analyze the data

• Take better action by causing alerts or notifying other security controls so that they can prevent the offensive activities

• Accept the relevant data from various sources

• Recognize potential security problems

None of these tasks are minor, and a company’s SIEM solution is only as good as the data on which it is developed.

Why is SIEM Imperative?

Management of such a vast amount of data can be expensive, time-consuming, and requires enormous resources. Therefore, to maintain them, companies have to customize and plan. However, the value of these logs can be understood while analyzing them to refer to three essential features of a wide range of security strategy.

Incident Detection

When the SIEM system being managed accurately, then it can help the organizations to identify the security events that would have been ignored by the logging security events. But SIEM can detect them by analyzing the log entries for any sign of attack or malevolent activities from the sources all over the network. Moreover, SIEM can even utilize the data for restricting the events and distinguishing the type of attack.

Regulatory Compliance

The regulated industries are dependent on SIEM because if they fail in compliance audit them, the company might deal with having to deal with heavy losses. It will also damage their reputation, and they have to pay hefty fines. Therefore, the companies use the SIEM solution so that it protects their data and proves that they are doing it efficiently.

Incident Management

SIEM system can also augment the efficiency of incident handling by providing real-time observation and customized alerts. It also restrains the amount of security breach that will decrease the extent of damage it can cause.

See Also: Top Cyber Security Service/Consulting Companies

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