Cybersecurity Investments Decision Support Under Economic Aspects
This book offers readers essential orientation on cybersecurity safeguards, and first and foremost helps them find the right balance between financial expenditures and risk mitigation. This is achieved by pursuing a multi-disciplinary approach that combin
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Stefan Beissel
Cybersecurity Investments Decision Support Under Economic Aspects
Progress in IS
More information about this series at http://www.springer.com/series/10440
Stefan Beissel
Cybersecurity Investments Decision Support Under Economic Aspects
123
Stefan Beissel Bergisch Gladbach Germany
ISSN 2196-8705 Progress in IS ISBN 978-3-319-30458-8 DOI 10.1007/978-3-319-30460-1
ISSN 2196-8713
(electronic)
ISBN 978-3-319-30460-1
(eBook)
Library of Congress Control Number: 2016932509 © Springer International Publishing Switzerland 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by SpringerNature The registered company is Springer International Publishing AG Switzerland
Preface
Today, nearly every company uses the benefits of information technology and the Internet. Therefore, many companies are required to cope with cyberthreats. Only adequate cybersecurity safeguards can protect companies properly. Inadequate safeguards and subsequent breaches or outages can lead to tremendous financial losses and serious reputational damages. The current big challenge is not the basic decision if a company should invest in safeguards, but, foremost, how much capital it should invest in safeguards. The priority should be to conduct the business safely without impairing the value creation of the company severely. Only the right balance between financial expenditures and risk mitigation helps a company to be solid and competitive in the long term. In order to identify this balance, it is necessary to apply a multi-disciplinary approach that is located between computer sciences and economics. Only the skillful application and combination of knowledge from both fields can fully support the decision making for the selection of adequate safeguards. On the one hand, the background and provenance of cybersecurity is of great importance. A thorough understanding of information quality and value as well as related cybersecur
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