When it comes to security, education or technology-based solutions, we can potentially save organizations a significant amount of money.
What is the value of education, or more technology? These questions at times occupy the minds of people especially when they’re getting ready to make an investment of time or money in one of the two. In regards to security, education or technology based solutions can potentially save organizations a significant amount of money.
Defining ROI in security
The strength of an investment is normally measured by the certainty and size of return it will provide. The proposals with the most profitability potential usually win; which is what makes cyber security proposals such a hard-won investment. When pitching for an investment almost every department will emphasize the urgency of their need for funds, and often they can prove profitability.
However, in security an investment does not provide more revenue normally, but it does provide savings during the inevitable cyber attack. In the security discipline we usually call this loss prevention, while in business this falls under the category of opportunity cost. When executives talk about opportunity cost, they are attempting to measure the value of one investment option against another one. >> Click to Continue Reading on CSOOnline.