What is Threat Intelligence Solutions and Why Do You Need It

We often read about cyberattacks in the newspaper or on social media platforms. We don’t take them seriously until it happens to us. This is a sad reality. Cyberattacks are more prevalent than you imagine. A report by IBM suggests that companies lost business by $1.52 million due to cyber-attacks. As per the Cisco Cybersecurity report, 50% of the large organizations have started to spend more than $1 million on security every year. A by Cybercrime Magazine gives us a glimpse of a darker future by projecting that the cost of cybercrime is likely to reach 6 trillion dollars worldwide in the near future, out of which only the ransomware damages will cost up to $20 billion.  

All these statistics beckon that cyber threat intelligence has become the need of the hour. The businesses moving to digital and cloud infrastructure are more vulnerable to cyberattacks than ever. They need to have adequate threat intelligence solutions to prevent and detect cyber threats before they get into the digital ecosystem and cause damage.  

What is Threat Intelligence? 

Threat intelligence software is a well-placed digital system to provide information about current or emerging threats that may disrupt the digital ecosystem of an organization. This information then prepares the organization to identify and prevent cyber threats that can benefit from the company’s valuable data resources. Using the intel, organizations can build a robust defense mechanism and mitigate the risk of a data breach. To get the optimum benefit of this well-developed system, it is important to choose the right threat intelligence solutions.  

Why is it important?

In this digital era, data is the new gold. Companies are gathering data to get a competitive advantage, prepare a focused marketing strategy and prepare a future roadmap of the company’s growth. Each and every company might have a different agenda for storing and collecting data. This data is precious and when it is stolen or publicly released, it may cost exorbitantly to the company. In some cases, the company might lose face or reputation due to the nature of the data. Losing internal data might damage the company’s position in the market.  

 Threat intelligence platforms can help companies secure their digital assets from theft and cyberattacks.  

How does it do it?

Threat intelligence solutions collect raw data from a wide variety of sources. Analyzing the data, it finds emerging or existing threats within the digital environment. After that, it filters the data and sends genuine data to threat intel feeds and management reports. The data is then utilized by security control solutions for preparing defense mechanisms and risk mitigation.   

Threat intelligence solutions can help an organization in-

• Developing cyber resilience by becoming more proactive towards cybersecurity threats.

• Staying up to date with threat intel including methods, vulnerabilities, targets, and bad actors.
• Keeping leaders, users, and stakeholders on the same page about cyber security by providing the latest updates.
• Updating the company about the potential damage the threat can make and its repercussions on the business.

When should you be alert?

The digital world is constantly evolving, so is the cyber security landscape. Being vigilant is the prerequisite to cyber security. Threat intelligence feeds can help you identify indicators of compromise (IOC) that can be the doorway to malware or cyberattack. A good threat intelligence software also recommends necessary action to prevent the attack. You should be vigilant while 

You are in touch with IP addresses, URLs, domain names that are communicating with a known threat actor. It can be malware targeting an internal host.  

Checking email addresses, email subjects, links, and attachments. It can be a phishing attempt. If you click on a link or attachment, it would initiate a malicious command. 

Dealing with registry keys, file names, file hashes, and DLLs. It can be an attack from an external host that has already been identified and flagged. 

How to optimally utilize threat intelligence solutions?

If you have integrated threat intelligence solutions in your digital environment, you need not worry. It is smartly designed to target threats. The process of threat detection is automated and requires no human intervention. Ensure you choose a threat intelligence platform that allows you to remain dynamic to address the changing requirements of the industries. The threat intelligence platform will help you constantly monitor the emerging threats and nullify them before they can disrupt.  All you have to do is to invest in a good threat intelligence tool.  

How many devices can it cover?

We are living in the era of a hyperconnected digital ecosystem that allows us to work, have fun and socialize from the same devices. It has its fair share of pros and cons. It also means that only protecting the CEO or the top management’s computers is not enough. The threat can enter from any point left open.  

A robust threat intelligence platform covers all endpoint devices including smartphones and laptops. Every employee contributing to the organization’s digital ecosystem is checked to ensure the safety of the digital environment.  

Does it provide security from third-party vendors?

It is well-established fact that most cyberattacks are initiated from third-party sources. Threat intelligence solutions do not cover third-party devices. However, while communicating with an external entity, you can ensure if their digital environment is secure or not.  

Is this solution dynamic?

As mentioned, the cybersecurity landscape is constantly evolving. Threat intelligence solutions too evolve with time. They are capable of dealing with new types of threats. It evolves with industry best practices. You have to be proactive in constantly updating your threat intelligence solutions. Also, constant learning is a key to staying safe. If you run your business on a digital platform or utilize cloud space for data storage, keep learning about different types of breaches that can put your data at stake. After all, prevention is better than the cure. 

Can it be customized?

Threat intelligence solutions can be customized as per your requirement. For example, the data security needs of a bank and a shopping mall would be completely different. Customized threat intelligence platforms can cater to the diverse needs of different industries. You should evaluate your options and identify your cybersecurity needs before finalizing the solution. 

Can it be easily integrated?

These are open-source solutions and can be integrated easily within the digital ecosystem. You need not change IT infrastructure to integrate it with the existing system. It automatically detects and addresses problems that may potentially disrupt your digital environment. 

The world is going digital with an increasing number of threats. The market has a plethora of threat intelligence tools but you should carefully choose the right one. The tool must perform its task well round the clock, without missing a single alert to ensure optimum digital safety. Therefore, it is best to choose the threat intelligence tool developed by an industry leader.