Rising risk, long incident remediation times and high security costs — these things keep security professionals up at night. But SIEM can make a positive difference in all three, according to a recent report.
Security information and event management (SIEM) frameworks help enterprises monitor, manage and mitigate the impact of cyberattacks. With the rising number of threats and the serious financial implications, SIEM has gained the attention of security teams worldwide.
In fact, the global SIEM market size reached $5.2 billion in 2022. Looking forward, the market is expected to reach $ 8.5 billion by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.
But how well does SIEM really work? Are the frameworks really worth the cost?
QRadar SIEM improves security with high ROI
Forrester Consulting recently conducted a Total Economic Impact™ (TEI) study to examine the potential return on investment (ROI) enterprises may realize by deploying the IBM QRadar SIEM framework. The purpose of the study was to evaluate the potential financial impact of SIEM on their organizations. And the study results were impressive.
For example, after implementing QRadar SIEM:
Analysts investigating incidents save over 90% of time
The return on investment (ROI) was 239%
Net present value (NPV) was calculated to be $4.3 million.
Life before QRadar SIEM
Before using QRadar SIEM, some organizations in the study manually monitored security alerts and evaluated log data with no structured log collection, analysis and correlation. Others used another security information and ..
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