Overview
The economics of cybersecurity is a critical field that examines the financial aspects of protecting digital assets. It involves understanding the costs associated with cybersecurity measures, the potential benefits of investments, and the importance of risk management. Organizations must evaluate t...
Key Terms
Example: Before implementing a new security system, a company conducts a cost-benefit analysis.
Example: A business develops a risk management plan to address potential data breaches.
Example: The ROI of a cybersecurity training program is calculated by comparing the cost of the program to the savings from prevented breaches.
Example: A company purchases cyber insurance to cover potential losses from a data breach.
Example: The cost of repairing a compromised system is a direct cost of a cyber attack.
Example: Loss of customer trust after a data breach can lead to indirect costs.