Security will always be one of the most important concerns facing any business owner. This is particularly true in an age of digital transformation, where countless devices can provide access to private company data and resources.
Perhaps the biggest challenge facing most business leaders today is staying ahead of the ever-increasing number of threats in the digital market. According to studies conducted over the last couple of years, cyber attacks have increased by more than 50% year-over-year.
Managed Detection and Response, otherwise known as “MDR”, is one of the tools business leaders can leverage to get ahead of the growing number of attacks.
Defining Managed Detection and Response
Managed Detection and Response is a rapidly-growing market, accelerating at a rate of around 28% CAGR. This proactive approach to security and protection involves putting digital assets in place to monitor threats and attacks, then act on the data you collect.
MDR companies provide comprehensive 24/7 systems for monitoring your data and assets. In some cases, they can even help you to pinpoint threats which would otherwise elude common security controls like firewalls and malware detection.
Emerging as one of the most valuable security options on the market today, MDR is one of the few solutions companies can rely on to give them a fully-focused security service. Rather than just one form of security, you get multiple protection elements in one, such as advanced analytics, threat intelligence, and even incident investigation.
Most MDR solutions combine various components to deliver the best threat response, including:
· People: Specialist professionals can assess your security landscape and determine whether additional strategies need to be implemented to protect you from various attacks. These experts can also help with incident investigation and responding to attacks.
· Platform: A comprehensive platform gives you access to tools you can use to monitor your ecosystem, access in-depth reports, and achieve a higher level of cyberattack surface visibility. Most of these tools come with automation elements so companies can implement strategies for instantly responding to attacks at any time.
· Intelligence: The majority of leading MDR solutions come with access to artificial intelligence and machine learning tools which can help to track trends in the security landscape, and even predict when attacks are incoming. This can help you to deal with threats more proactively.
What Challenges Can Companies Overcome with MDR?
Managed Detection and Response is essentially a comprehensive solution designed to respond to the growing volume and variety of cybersecurity threats facing businesses in a modern world. As the sophistication of cybercriminals continues to evolve, so too must the security strategies companies use to protect against them.
Having your own cybersecurity expert in-house to monitor and respond to potential threats at all times simply wouldn’t be feasible for most companies. Not only would this strategy be expensive, but the cybersecurity skills gap is causing significant problems for many brands worldwide.
An MDR service can provide an alternative to hiring and onboarding your own cybersecurity skill professional. These companies can deliver cost-effective menus of extensive services to help minimize your risk without a significant upfront investment. With MDR services, companies can access high-level skilled analysts using cutting-edge security tools and global databases to help detect potential attacks before anyone else.
Essentially, MDR solutions mean companies of all sizes can access the expertise and specialist technology usually reserved for bigger brands in the fight against cybercrime. At the same time, MDR services can also eliminate manual processes which often slow down the response to attacks in the digital landscape through automation and the use of artificial intelligence.
With MDR, companies can unlock benefits like:
· 2/47 monitoring and analysis from expert analysts
· Insights and guidance from experienced security professionals
· Improved threat detection for endpoints and various devices
· Expert investigation of all alerts and incidents, with customised responses
· Improved threat intelligence for better long-term responses
· Improved vulnerability management and log management
· Reduced burden on day-to-day security requirements for internal staff
· Enhanced reporting and tracking for compliance purposes
· Reduced security investment with a higher return on investment
Is MDR Different to MSSP?
Notably, before you invest in a Managed Detection and Response solution for your business, it’s worth acknowledging the difference between this service and support from a Managed Security Services Provider (MSSP). Though there are similarities between both options, there are also some major differences.
An MDR solution is a proactive service designed to respond rapidly to, and prevent threats. MSSPs, on the other hand, are designed to focus on vulnerabilities, and react to threats. With an MDR service, you’ll have access to an expert team focused on detecting potential issues, threat hunting, and responding to issues before and when they occur.
Alternatively, MSSPs are more likely to recognise issues with security, without providing the same level of analytics, research and forensic investigation ass an MDR. While MSSPs use monitoring and log management, MDR solutions rely on a more in-depth approach to protecting your business from common security issues.
For companies hoping to upgrade their approach to security in an increasingly complex threat landscape, MDR solutions could be the ultimate investment.