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By Jayne Hallock

It really is a jungle out there.

Leading analysts predict that cybercrime costs will skyrocket to $2 trillion per year by 2019.  You know you have to protect your business and that’s why you likely have already invested in IAM solutions to protect your data from unauthorized access, while trying to stay one step ahead of governance issues.

Even so…if you have a nagging feeling that your business may still be vulnerable…you are right to be concerned.

Recent studies have shown that compromised credentials are still the cause of the majority of security breaches. Verizon’s 2017 Data Breach Investigations Report notes that a shocking 81% of breaches still result from weak or stolen passwords.

Even more alarming, according to Forrester, 80% of security breaches involve privileged credentials!

With password theft still causing 4 out of 5 security breaches, it is clear that solutions designed to simply detect and react to breaches have failed to protect far too many organizations. Fortunately, combining traditional IAM approaches with analytics allows your business to predict and counter threats before your systems are compromised.

3 Ways Analytics Supercharge Your IAM

Using analytics allows you to detect patterns and to classify important data relating to user behavior. It also allows you to make decisions about access to resources that increase security and improve end user experiences, and create automated processes that detect anomalies and take corrective action in real time.

Here are some examples of how analytics can improve your governance posture.

1. Group Users Using Actual Data. Without analytics, businesses struggle to understand user access needs and effectively group users when creating roles and access policies. Analytics allows you to base these decisions on data generated by actual user actions, rather than suppositions. By collecting and analyzing this data on an ongoing basis, you can refine your approach when conditions or requirements change.

2. Customize Access Based on Actual Needs. By providing accurate data on how your users interact with your systems, analytics enables you to customize access and improve the user experience. When users access your system, they can be grouped with similar users based on historical data. They can then be granted appropriate privileges allowing access to the applications and data they need while increasing security by limiting access to only what is required.

3. Detect Anomalies and Take Automatic Action. By analyzing user actions in real time, and then comparing those actions with historical data, analytics enables automatic detection of anomalous behavior — a great way to prevent data breaches. Once anomalous actors have been identified, access can be prevented before your data is compromised.

A New Approach To IAM

Your business can no longer afford the “close the barn door after the horse escapes” approach to security and governance.

Cybercriminals continually study businesses to find patterns of behavior and systematic weaknesses they can exploit. Strike back by using the power of analytics to obtain accurate event intelligence, and take action to counter cyber criminals…before they can damage your business.

With almost 20 years of writing and editing under her belt - including CNN and HomeDepot.com content - Jayne is currently immersed in cybersecurity, #AI and infosec trends. She's is the Editor in Chief of this blog and the Director of Content and Social for Simeio Solutions.