Analytics company, Brinqa, puts a price on risk

The company said putting a value on data helps executives evaluate risk better

An analytics company is trying a novel approach to evaluating risk: by putting a price on it.

Companies know that losing credit card data in a hack can cost them a lot of money, not to mention diminish their customers' confidence in them. But risk is frequently described to executives in high-low, red-green scales, which "don't make any sense to business," said Amad Fida, Brinqa's CEO.

One part of Brinqa's software is attempting to bridge that gap, delivering estimations of what a data breach would cost, including aspects such as how much revenue the data generates and how much remediation would be.

The estimates, Fida said, aren't "100 percent perfect." But the approach has so far appealed to financial services companies, some of whom are running Brinqa's software. They understand a cost figure better than, for example, the number of unpatched hosts on a network, Fida said.

"We are saying you need to bring economics into technical risks and operations," he said.

To do this, Brinqa uses a framework that pulls data from a variety of business systems, such as databases, servers, security tools and applications. The data is stored in a Brinqa NoSQL database, where it is normalized and correlated in a graph-based model, Fida said.

Companies need to do a fair bit of preparation as well, such as creating a data inventory for different applications, calculating compliance costs and building revenue estimates.

Vivian Tero, a program director for governance, risk and compliance infrastructure with analyst IDC, said Brinqa's software would likely interest a company's board looking to quantify threats with a cost. But the devil is in the details.

Brinqa, Tero said, is attempting to solve a problem tackled by security information and event management vendors: expose relationships between physical machines, networks, business processes and data and present the risks and threats in context.

"At the end of the day, a successful implementation of any risk management solution is contingent on the enterprise's risk model and the ability to effectively identify the critical data sets needed to build these algorithms," Tero said via email. "Never forget the human element - i.e. the process, security, risk management managers, and data scientists who need to work together to architect this system."

Fida said a large German bank has been using Brinqa for more than three years to analyze 11 applications. Brinqa is also being used by some large technology companies and education institutions. The software is licensed on a per-user, per-month basis, Fida said.

Send news tips and comments to jeremy_kirk@idg.com. Follow me on Twitter: @jeremy_kirk

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags brinQarisk managementbusiness management

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jeremy Kirk

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?