The Importance Of Decision Support Strategy

Principles of Information Security, Fourth Edition Michael E. Whitman and Herbert J. Mattord Vice President Editorial, Career Education & Training Solutions: Dave Garza Director of Learning Solutions: Matthew Kane Executive Editor: Steve Helba Managing Editor: Marah Bellegarde Product Manager: Natalie Pashoukos Development Editor: Lynne Raughley Editorial Assistant: Jennifer Wheaton Vice President Marketing, Career Education & Training Solutions: Jennifer Ann Baker Marketing Director: Deborah S. Yarnell Senior Marketing Manager: Erin Coffin Associate Marketing Manager: Shanna Gibbs Production Manager: Andrew Crouth Content Project Manager: Brooke Greenhouse Senior Art

In the academic world, numerous information security (InfoSec) and risk management (RM) models are present. The value of these models differs, particularly in respect to internal and external soundness. Appropriately, countless security researchers and specialists seek increased understanding on the convolutedness of information assurance (IA). To a degree, this need may be motivated by industry demand and application. InfoSec is an enduring matter for many businesses. Therefore, the aim of this research is to offer an assessment of InfoSec and RM theories and to identify the areas in need of further research.

Information security is vital in organizations; more so in this era where terrorism and hacking are the order of the day. The cost of ensuring a reliable information security is high (Gulati, p.2-3). However, cyber-attacks can vary in costs and outweigh the process of security measures in place to protect information (Manske, p.55). The cost of reputation after an attack can be a major blow to the running of an organization. For instance, if an attacker access credit card information the customers may withdraw from the company or refrain from its services. Court cases against the loss of confidential information may spoil the reputation of a company . When the computer systems have been accessed illegally, the systems must be inspected, fixed and re-secured. Hackers publicly expose the hacked information; clients, sellers and investors may avoid associating with the

Risk mitigation encompasses all actions taken after a cyber-attack to return to normality. While investigation costs and risk mitigation costs can be assessed without much difficulty, the lost value of a compromised asset can be a complicated number to arrive at quantitatively. The cost of stolen intellectual property (IP) is the most difficult to estimate, as part of the cost of cybercrime, but it is also the most important variable for determining loss. Along with the difficulty of valuing IP, other intangible losses are not easily measured. For example, the effects of cyber espionage on national security are significant, and the value of military technology taken cannot be assessed using standard commercial methods. Commercial endeavors to place a monetary number on the value lost after a cyber-attack focuses on several variables that do not translate easily into the public sector. Some of the variables include: fluctuations in stock prices, fair market value, return on investment, and ability to generate cash

Complete financial analysis on the $ cost / benefit investment needed to upgrade technology security. Technology is expensive; however, data breaches are even more expensive.

Decision making refers to the process of finding and selecting options according to the priorities and values of the person making the decision. Since there are many choices involved, it is important to identify as many options as possible so as to pick the option that best fits a company’s target, goals, values and vision. Due to the integral role of decision making in company growth and financial progress, many firms such as Amazon.com and EBay are pumping in huge investments in business intelligence systems, which are made up of certain technological tools and technological applications that are created for the purpose of facilitating improved decision making process in

When making a decision regarding an information security countermeasure, decision makers need to come up with the total cost of ownership of the countermeasure. In other words, the cost

The criticality principle defines the impact of loss in terms of dollars and it entails the direct and indirect costs. If a company executive uses the cost benefit analysis approach to justify the investment in security, it is likely that the cost of security will be greater than the benefit of protection against potential risk. Most company executive fail to take into consideration the overall costs involved in a security breach. Using the criticality principle, other costs such as replacement, including the temporary replacement costs, must be accounted for. Downtime is the cost of the inability to function as a result of the loss. Insurance costs are also likely to go higher if the loses are on the rise. The loss of the position of the company in the marketplace is very difficult to regain once it has been lost. This is due to the failure to deliver the demanded product to the consumers, who is likely to look for an alternative. These are some of the important factors that highlight the importance of security in the reduction of costs that are incurred as a result of loss. It is possible to merit and quantify security risks using data obtained from the criticality and probability principles and the creation of a vulnerability matrix (Robert and Gion 1998).

The survey used in this study was used to investigate whether or not organizations may need to reconsider the cost benefits opposed to the number of security breaches. The specific types of applications (e.g., HR applications, financial applications, Servers) and the specific types of security breaches (student biographical, personnel data, financial data) will be

Recommendation to plan and implement a security policy in order to protect our financial, intellectual and customer data from external threats. The rising number of cyber security attacks is a problem that is growing more advanced everyday. In 2014 cyber attacks against large corporation increase 40 percent from the previous year (Carey, 2015). Due to these threats small businesses through large multi-national corporations are under immense scrutiny as to how they are dealing with protecting their intellectual property and sensitive customer data from being lost, stolen or modified. Computer hackers are constantly finding more creative ways to exploit security holes in networks, computer systems and web e-commerce sites.

Because of tremendous information blasts experienced by gigantic endeavors in each industry, information security is the talk of the tech world. It has besides changed into a board-level subject. From a client's viewpoint, security improvement should ensure an attempt against anything that could physically impact it, for example, an enormous information break. It moreover ought to be anything but difficult to utilize, unnoticeable and not make a deterrent to efficiency or crucial exercises, for example, interfacing with partners, growing new applications or mechanizing new business outlines. From a client's point of view, security advancement should ensure an endeavor against anything that could

Cyber security as a vital element that should be addressed by business organizations, especially by the executive board as it has a great impact on business performance. Hence, the traditional approach used by the group to curb the menace is not adequate for the development of firewalls and anti-virus are embraced (Fugini et al., 2016). Therefore, it is imperative to appreciate that a better approach should be employed that guarantees the management of efficient organizational structure among other critical issues.

The role of computers in business operations is growing with each wake. Computers have helped entities boost efficiency, speed up service and product delivery and take consumer interaction to another level. However, this new wave has not come without its challenges. Cybercrimes pose a threat to information security and privacy, which is a concern for private and public institutions alike. The United States has developed laws that seek to regulate and improve cyber security across public and private institutions, in an endeavor to ensure national security. Therefore, managers have a new task during the process of decision making as they no longer need to look at their own

With the quick growth rate of technology, cyber security is being utilized by millions of people every day. Furthermore, this industry will never die and will always have a constant stream of demand. The appealing sector of cyber security is demonstrated on what the value of a 10,000-dollar investment is now worth (see Exhibit A). From my perspective, cyber security is one of the few durable trends that investors can benefit from due to the booming technology industry. Moreover, with the increase of hacking incidents in the past years, the importance of cyber security is becoming vital for businesses and households (see Exhibit B). Thus, cyber security seemed like a logical and safe place to invest my funds.

The internet is an integral way of conducting daily business from government agencies to entertainers. Protection of attack, damage, or unauthorized access is necessary with the increase of mobile users, digital applications and data networks. A cyber-security problem can be viewed as a conflict-resolution scenario that typically consists of a security system and at least two decision makers (e.g. attacker and defender) that can each have competing objectives. For instance, the defender may be interested in ensuring that the system performs at or above a certain acceptable level. The attacker’s objective may be to disrupt the system and degrade it. Game theory is a well-established tool that can be used to analyze such problems. In this work, we present a brief survey of how game theory can be used to find appropriate strategies for both the attacker and the administrator (defender). We model the interactions between them as a stochastic game. Various formulations of game theory will be presented to deal with different cyber security situations. We will present mathematical models of security systems to analyze the system’s performance and to predict the likely behavior of key decision makers that influence/control the system.