1.01 ^365 = 37.8
We at Safe Security believe in consistently growing every day of the year. After our rebranding just a few weeks ago, we have more exciting news to share. Douglas W Hubbard, Founder of Hubbard Decision Research (HDR) and one of the global thought leaders in mathematical modelling, quantification and data science, is joining our advisory board! He has an unmatched expertise in decision and actuarial sciences and is famous for inventing a decision analysis method - Applied Information Economics (AIE). It has remained his speciality for the last 22 years of a management consulting career spanning over three decades. He is also the author of How to Measure Anything in Cybersecurity Risk amongst other publications. With his rich experience, we look forward to growing with Douglas by our side.
In How to Measure Anything, Douglas writes “Understanding how to measure uncertainty is key to measuring risk… Understanding the value of information tells us what to measure and how much effort we should put into measuring it.”
Here at Safe Security, we eat, drink, breath and sleep cybersecurity. Cybersecurity today, not only has an impact on the top and bottom line of businesses, but also impacts operations, brand reputation, customer retention, supplier relationships, legal engagements and more. Despite these consequences, cybersecurity remains siloed in technicalities and subjective assumptions. In fact, the 2021 World Economic Forum (WEF) Global Risk Report, has named “cybersecurity challenges” as the fourth most pressing danger to the global economy. Without any consistency between the security teams and business leaders, there is no common language to bring transparency and improve its understanding. There is a dire need to standardize cyber security, not only within an enterprise but also at a global scale.
"Cybersecurity today is one of the most critical business functions, and yet, businesses continue to use non-quantitative methods such as “risk matrices'' to understand their cyber risk posture. These qualitative, pseudo-mathematical methods are proven to be merely a kind of 'analysis placebo' - they make managers feel better without actually improving decisions. Yet, regardless of how much uncertainty enterprises have, they can adopt methods that have shown they can measurably improve decisions. They should start to build mathematically rational models based on what they do know and use measurements to reduce the uncertainty.” said Douglas.
He further goes on to say, “While there are a slew of new products emerging to help security & risk management leaders better understand their organization’s cyber risk, many are still based on dis-proven methods. Safe Security's sound approach, based on real quantitative risk management, gives it unique advantages to lead in this market.”
We are excited to work with Douglas as we enable enterprises around the world to measure and mitigate cyber risk in real-time across their hybrid environments. His in depth experience in risk modelling will help us enhance and scale SAFE in line with our vision of making the SAFE score a de-facto standard for measuring cyber risks by 2025.
Douglas Hubbard and Saket Modi had an interesting discussion on Quantifying Enterprise Cyber Risk to Enable Digital Businesses. You can watch it here: https://www.brighttalk.com/webcast/18742/470370