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According to IBM,����— when hackers steal sensitive business, employee or customer information — cost U.S. companies $9.44 million, on average, in 2022. Every firm has multiple vulnerabilities, as malware, stolen login credentials, phishing emails, poorly configured networks, or unsecured cloud systems leave databases open for attacks.��

There are also newer hacking trends like ransomware, which is a type of malware that shuts down a system or encrypts data so a company’s entire operation grinds to a halt. According to Verizon,����in the past year alone.��

While companies can establish a secure infrastructure and reduce security events with firewalls, multifactor authentication and other tools, they will still likely face problems from an��ever-evolving list of cybersecurity threats. Given the prevalent threat of costly security incidents, cybersecurity is a necessary investment in today’s digital business world.

What is SIEM in cybersecurity?

Security information and event management (SIEM) is an essential part of every organization’s cybersecurity strategy. These systems assess possible security issues in real time and help ensure that threats don’t evade detection.��

One strength of these tools is that they can help detect threats so that you can investigate them, prevent them from accessing other areas of your network, and respond quickly if necessary.��

Other cybersecurity tools can help with detection and prevention. But��if you obtain a cybersecurity degree, you will likely learn about SIEM systems because they offer more in-depth analysis and data collection than endpoint detection and response (EDR) systems, which only focus on the endpoints of a computer network and don’t offer analysis of the network as a whole.��

Here's a closer look at SIEM and how companies use it to respond to today’s cybersecurity challenges.��

What does SIEM stand for?

SIEM stands for “security information and event management.” These two different areas can also be used separately in a cybersecurity setting. Alone, they are referred to as security information management (SIM) and security event management (SEM). In addition to managing and visualizing security-related information, SIEM can detect suspicious activity (events). It can also log network and system data so an organization can use it for forensic investigations or proof of compliance with data privacy laws.��

What is SIEM in cybersecurity?

SIEM is a threat intelligence methodology executed through custom software platforms that combine security information management and security event management into one unified SIEM solution. They are available as out-of-the-box cybersecurity software or as managed services provided by third-party vendors.

One of many aspects of a complete cybersecurity strategy, a SIEM solution can help detect unusual activity so security teams can gauge the appropriate threat response. It can account for hacking activities that breach the first-line defenses, get in through a back door, or utilize new techniques that a business's original cybersecurity infrastructure may not be prepared to defeat.��

How does SIEM work?

SIEM solutions log data and organize it into categories to make it useful for threat detection. Unlike other cybersecurity tools, SIEM software pulls all the logged data from various sources and compiles it in one central dashboard. That way, any unusual activity detected can trigger an alert on the central dashboard, allowing the security team to assess the problem and quickly respond accordingly.��

Since any unusual activity can be a sign of a security threat, SIEM solutions use correlation protocols to look for patterns and similar functions across the network and combine activities with similar attributes into a category. This is especially useful for detecting threats and finding anomalies within the system. Plus, a SIEM system retains information for record-keeping to provide evidence of data privacy compliance and to conduct post-attack forensics.��

What are the benefits of SIEM?��

SIEM offers benefits over similar cybersecurity systems. It’s faster, more accurate and farther-reaching than other cybersecurity options. Here’s a closer look at the��benefits SIEM solutions offer��to companies and organizations.��

Efficiency

SIEM solutions quickly log vast amounts of data, so users get real-time analysis. This efficiency is essential when dealing with breaches and threats.��

Since the data is transmitted to one central dashboard, the security team can have everything at their fingertips. Other cybersecurity tools require users to find data in different places and interpret it independently. Though this is possible for skilled professionals, it can be more time-consuming than using the correlated information available via a SIEM solution.��

Visibility

SIEM tools cover all aspects of a network. Previous systemwide monitoring tools focused on endpoints. Users could detect threats only when they were already in a position to do damage. The whole-network view available through SIEM can help detect anomalies and unusual activity earlier, allowing for a better response.��

Hackers and malware often seek unused corners of the network, where they can sit undetected. Because SIEM covers these areas, hackers won’t be able to hide their activities.��

Compliance

SIEM can help with compliance because it collects and formats data for easy inspection. It offers a complete picture of employee activities and security measures throughout the system.��

The information can help with both internal and external audits, which assess compliance practices. This benefit is especially important for fields like healthcare and finance, where organizations are required by law to properly secure and encrypt clients’ personal data.��

Data

SIEM systems normalize data. Security information can come in many formats. For example, activity logs from email servers may be different from the data acquired from mobile device activity. SIEM transmits all this information to a central dashboard and puts it in the same form, making comparisons and correlations easier and allowing for quick assessments of incoming information.��

Why is SIEM important?

SIEM systems continue to improve, using artificial intelligence (AI) and machine learning to learn a company’s processes so that they can better spot anomalies and threats. The ability to adjust is essential for cybersecurity because the threats are constantly changing. For example, five years ago, ransomware was not a major concern, but it is now at the forefront of cybersecurity efforts.��

To help combat increasing cybersecurity threats, companies need��qualified cybersecurity professionals. As noted, security events are a common occurrence and are only projected to increase as we rely more and more on technology. SIEM can make the jobs of security teams easier, but in the end, this is only a tool that’s a part of evolving cybersecurity strategies.