5 Points when Talking to Your Board and Executives about Threat Intelligence

The boardroom is often the hub of strategic direction – it is where many critical investment decisions are made. Since threat intelligence is a rising area of investment, it is not a matter of speculation that threat intelligence will be a reoccurring boardroom discussion over the course of the next few years. Transforming threat intelligence from a mere topic of conversation around the boardroom table to a vital tool within the company’s cybersecurity arsenal requires attention to how its value is communicated in the boardroom.

When communicating value, one should tell a story that is concise, impactful, and data-driven; in this case, that story is how threat intelligence is an indispensable part of any well-crafted cybersecurity strategy. Cyber threat intelligence is a reliable, current, and actionable repository of knowledge on adversaries’ motives, tactics, and techniques. Armed with this knowledge, security professionals can proactively anticipate, mitigate, and swiftly counter threats. This is the story that should be communicated around the boardroom and narrated with statistics, use-cases, and compelling visuals. Below are five key plot points to include when telling the story of why threat intelligence is a vital tool to add to the company’s arsenal.

1. High Return on Investment:

A threat intelligence program has tangible financial benefits, such as reduced incident response costs and improved operational efficiency. According to IBM’s 2023 Cost of a Data Breach, organizations with threat intelligence capabilities detect breaches more rapidly, limiting both damages and expenses. The report also explicitly highlights threat intelligence as one of the top ten cost mitigators for data breaches; organizations with threat intelligence programs spend $196,936 less on a data breach. Furthermore, integrating threat intelligence into a Security Information and Event Manager (SIEM) solution streamlines security operations by reducing excessive security alerts, enabling faster breach detection, and freeing security personnel to focus on other tasks. Acquiring threat intelligence is thus a cost-effective decision that not only mitigates the expenses associated with data breaches and operational inefficiencies, but also enhances the swift detection of malicious activity.

2. Meet Compliance Requirements:

Investing in threat intelligence helps organizations comply with key cybersecurity frameworks, such as the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF) and ISO 27001:2022. In the recent publication of NIST CSF version 2.0, there is a greater emphasis on incorporating threat intelligence feeds into an organization’s monitoring and analysis strategy. Similarly, ISO 27001:2022 also puts more focus on threat intelligence, compared to its predecessor, by including a threat intelligence control (Annex A Control 5.7). This increased attention on threat intelligence in key cybersecurity frameworks underscores the growing realization that threat intelligence is vital for developing a robust cybersecurity strategy that proactively protects the organization and mitigates threats.

3. Enrich Risk Management and Mitigation:

Threat intelligence equips organizations with critical insights into the threat landscape, enhancing the risk identification and prioritization process. Risk stems from the intersection of threats and vulnerabilities. By understanding adversaries’ tools and capabilities, organizations can more effectively identify threats and risks. Additionally, recognizing who is prone to target your industry and their methods of initial access helps illuminate vulnerabilities that are most critical, thereby enhancing the risk prioritization process. Ultimately, threat intelligence ensures that organizations focus their resources on proactively mitigating the most pertinent risks.

4. Safeguard Reputation:

Organizations with threat intelligence are in a better position to detect and respond to a cyberattack. One reason for this advantage is that security analysts have more insight into known attack patterns and indicators of compromise, which aid in incident detection. This is corroborated by IBM’s "Cost of a Data Breach" report which found that companies with threat intelligence identify breaches, on average, 28 days faster. Quicker incident detection allows for a swifter response, enabling the organization to contain the threat, mitigate adverse impacts, and thus safeguard reputation. Furthermore, threat intelligence helps organizations accurately identify threat actors’ tactics and techniques, aiding in attribution and the development of effective incident response strategies. Evidence suggests that the way companies respond to cyberattacks affects their reputation and investor perception. By using threat intelligence to strengthen response capabilities, organizations are minimizing potential reputational harm.

5. Effective Decision-Making:

Threat intelligence provides actionable insights into current and emerging threats, attack trends and adversary capabilities. There are four types of threat intelligence: strategic, tactical, technical, and operational. A robust threat intelligence program provides all four types. Key stakeholders, ranging from analysts to executives, can utilize this intelligence for effective decision-making. Security analysts can leverage technical and operational threat intelligence to better detect attacks and filter through security alerts. Architects and sysadmins can utilize tactical threat intelligence to fortify defenses. Executives can rely on strategic threat intelligence to develop a better understanding of cybersecurity risks, and thus, make sounder resource allocation and investment decisions. Overall, a threat intelligence program empowers key cybersecurity personnel to make decisions that account for and stay ahead of current and emerging threats.

Threat intelligence is a vital pillar of a cybersecurity program, helping to fortify against, anticipate, and respond to threats. As shown, threat intelligence has a high return on investment. This is further corroborated in S-RM’s 2023 Cyber Security Insights report which found that 46% of respondents (600 C-suite business leaders and senior IT professionals) cited threat intelligence as a “high value for money.” Further demonstrating its value, threat intelligence aids in critical decision-making processes related to strategy development, resource allocation, defense fortification and incident response. All these benefits are why it is important to invest in a robust threat intelligence program.

K logix can help organizations craft a compelling narrative for why threat intelligence is a worthwhile investment to the boardroom. For more information, please contact one of our experts: info@klogixsecurity.com.