Benchmarks

1. Introduction

Discover the power of comparative analysis with RiskStudio's 'Benchmarks' feature, designed to measure and compare the cybersecurity ratings of both your own company and all other entities in your Cyber Chain against industry benchmarks. This section guides you through leveraging these insights to understand your cybersecurity positioning in relation to industry standards, providing a comprehensive view of your security landscape in comparison to peers and competitors.

2. Functionalities

2.1 Companies Tab

This tab features a dynamic circular diagram and a color-coded horizontal bar. The diagram illustrates the average Cyber Rating of your selected Cyber Chain Companies, categorized into different colors based on their rating range:

Grey: no rating
Red: rating 0-20
Orange: rating 21-40
Yellow: rating 41-60
Light green: rating 61-80
Dark green: rating 81-100

This visualization helps in quickly identifying the overall cybersecurity posture of your selected companies.

2.2 Benchmark Groups Tab

Here, you can select up to 10 different industry benchmark groups, such as Retail, Healthcare, and Technology, among others. This comparison enables you to evaluate how your Cyber Chain Companies' cybersecurity ratings stack up against specific industry standards, providing a sector-specific perspective on cybersecurity performance.

2.3 Countries Tab

The Countries Tab feature currently concentrates on geographic benchmarks, with existing data for the Netherlands. This tab enables comparisons of your Cyber Chain Companies' cybersecurity ratings against the national average in the Netherlands, offering a perspective on their cybersecurity status on a national scale. Looking ahead, the functionality is set to evolve, with plans to incorporate additional regions, continents, or clusters of countries, such as the European Union, further enriching the scope for broader international benchmark comparisons.

2.4 Operational Entities Tab

This tab lets you select and analyze the average Cyber Ratings of specific operational entities within your Cyber Chain. It offers a more granular look at how different parts of your organization or specific operational groups compare in terms of cybersecurity strength.

3. Maximizing the potential of 'Benchmarks'

Use 'Benchmarks' to strategically align your cybersecurity strategies with industry best practices, identify gaps in your security posture, and provide stakeholders with assurance about your cybersecurity robustness.

4. Frequently Asked Questions (FAQs)

Q. How does Benchmarks enhance my understanding of our cybersecurity positioning?
A. The Benchmarks feature in RiskStudio allows you to compare not only your own company's cybersecurity rating but also those of your Cyber Chain Companies against industry standards. This comparison offers a clear perspective on how your cybersecurity measures stack up both internally and within the broader industry context, aiding in strategic cybersecurity planning and improvement.

Q. What insights can I gain from the color-coded ratings in the Companies tab?
A. The color-coded system in the Companies tab visually represents the range of cybersecurity ratings for your company and the Cyber Chain Companies. By observing these ratings, you can quickly discern the overall cybersecurity health of your organization and its partners, identify areas requiring attention, and understand where you stand in relation to industry benchmarks.

Contribution to cybersecurity and Risk Management

The 'Benchmarks' feature significantly contributes to cybersecurity and risk management by providing a clear and comparative perspective of your company's and Cyber Chain Companies' cybersecurity standings against industry benchmarks. This comparison is instrumental in identifying potential vulnerabilities and strengths in your cybersecurity approach. It allows you to align your security practices with industry best practices, enhancing your overall cybersecurity resilience and risk mitigation strategies.

Requirements

To effectively utilize the 'Benchmarks' feature in RiskStudio, the following requirements are essential:

Comprehensive Cyber Chain Data: Ensure that your Cyber Chain is up-to-date with all relevant companies included for accurate benchmarking.
Knowledge of Industry Benchmarks: Familiarity with current cybersecurity standards and benchmarks within your industry will help in interpreting the comparative data more effectively.
Analytical Approach: An ability to analyze and interpret the benchmarking data to draw actionable insights for improving your cybersecurity posture.
Strategic Implementation: Be prepared to apply the insights gained from benchmarking into practical cybersecurity enhancements and strategic planning within your organization.