Booz Allen Hamilton and the Economist Intelligence Unit, the research and analysis division of The Economist Group,has released a free analytics tool designed to help organizations estimate the potential financial impact resulting from cyberattacks, as well as determining the true cost of attacks already sustained.
“CyberTab is an anonymous, free tool that helps information-security and other senior executives understand the damage to companies inflicted by cyber crime and attacks,” the tool’s website says.
“It will calculate the costs of a specific cyber attack—based on your estimates of incident-response and business expenses and of lost sales and customers—and estimate your return on prevention.”
CyberTab has two main features, the Planning Mode which will “gauge the cost of potential attacks to better understand your risks and security-investment choices,” and the Reporting Mode which allows users to “discover the cost of specific attacks that your company has sustained and help enable benchmarking.”
The developers say the tool can be used to aid security teams in gathering critical data points that can be used to better relay risk factors to executives and boards of directors, as well as eventually providing cumulative benchmark analysis for comparing the impact of cyberattacks against that of other similar organizations.
“Today cyberattacks are ‘not if, but when’ for nearly all companies—and the financial fallout is severe and likely to get worse. Yet deep corporate fear about disclosure has led to a culture of secrecy that has hurt our ability to understand the size and shape of the problem we face. It also makes it harder for companies to learn from each other and devise more robust defence strategies,” said Riva Richmond, editor at The Economist Intelligence Unit.
“Executives can gain new insight into their own company’s risks by using CyberTab, and can do so anonymously and leave no trace of their data. But we want people to be part of the solution and take part in our research programme. By submitting data anonymously, they will be taking a step towards a broader understanding this complex problem.”
The creators of CyberTab say it is completely anonomized, and that “no data will be collected unless you submit it—anonymously—to the EIU when you complete the tool,” that no automated collection will occur, and that no identifiable data will be shared with any third parties, including Booz Allen.
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