What is Security Information and Event Management(SIEM) and How does it Work?

Event organizers hold the accountability to shield the private data consigned to them by their audience and shareholders by assuring it doesn’t come into deceptive hands. But, as we’ve observed from the recent uptick in online events, there is indeed a concerning need related to the security of the virtual event platform.

What does SIEM stand for?

SIEM stands for security information and event management and helps companies with next-generation exposure, analytics and response.

What is a SIEM?

SIEM software is a mixture of security information management (SIM) and security event management (SEM). They are fused to offer a real-time review of security alerts produced by multiple applications and network hardware.

With the help of gathered intelligence, SIEM solutions combine events against precepts, and analytics discover and analyze potent threats.

It provides relevant insights and a complete record to the security teams regarding their IT surroundings. It includes data review, event accord, gathering, reporting, and log supervision.

The fundamentals of every SIEM system are to gather appropriate data from various sources, recognize variations from the model and take a suitable measure. For example, after a likely issue is identified, a SIEM system may log further information, create an alert, and direct other security regulators to check an activity’s progress.

How Does SIEM Work?

SIEM solutions offer an appropriate level of data collection, solidification, and classifying functions. It is an effective strategy to recognize threats and hold to data compliance necessities. While few solutions differ in ability, most of them deliver the same set of specialties:

  • Log Management: SIEM solution collects data from various networks and sources of the company. Logs and crucial data from several users, applications, cloud environments are gathered, saved, and examined in real-time. It helps the IT and security team to maintain their network’s event log and data in one prime location.
  • Event Correlation & Analytics: Event correlation is a vital element of any SIEM solution. They make use of advanced analytics to recognize and comprehend complex data patterns. Then, they present insights to discover and alleviate potential alerts to business security. They help enhance mean time to detect (MTTD) and mean time to respond (MTTR) for IT teams of any company. It is done by eliminating the manual workflows related to the in-depth examination of security events.
  • Incident Monitoring and Security Alerts: The management of cloud-based and on-premise data helps SIEM recognize the actualities of the IT ecosystem. It enables SIEM technology to observe security events across multiple users, applications, and devices. Officials are informed promptly to take suitable actions to reduce potential threats before it affects the security teams. The administrators receive these alerts using customizable and predefined correlation rules.
  • Compliance Management and Reporting: They are a convenient option for companies subject to various types of regulatory agreements. SIEM is a helpful tool for collecting and validating compliance data in the complete business infrastructure. It helps provide real-time compliance reports related to PCI-DSS, GDPR, SOX, and other notable compliance standards. It reduces the hassle of security management and identifying potential breaches early that need to be addressed.

Benefits of SIEM

Irrespective of how big or small your company may be, taking essential steps to observe and moderate IT security risks is crucial. SIEM solutions play a vital role in streamlining security workflows. Here are a few benefits of the same;

Identification of the threat in real-time

SIEM monitoring solutions help decrease the lead time expected to recognize and respond to likely network threats. Moreover, it helps organizations to reinforce their security aspect.

Regulatory compliance checking

SIEM solutions facilitate centralized compliance auditing across the business’s complete infrastructure. High-level automation streamlines the gathering and examination of system logs and security functions. It helps decrease internal resource utilization while adhering to stringent compliance reporting measures.

AI-driven automation

Advanced SIEM solutions can easily combine with robust SOAR abilities. It helps preserve time and energy for IT teams as they handle business security. Using extensive machine learning that significantly accommodates network operation, these solutions can identify tricky threat problems. Post identification, they also release response protocols quickly and efficiently.

Increased organizational efficiency

SIEM is a vital element for enhancing interdepartmental performances. The consolidated picture of system data and combined SOAR allows security teams can interact and collaborate efficiently regarding security threats.

SIEM use cases

SIEM has distinguished use cases regarding detection and prevention of potential threats and customary compliance standards.

IoT security

The Internet of Things (IoT) industry is expanding. But with development comes uncertainty as it includes multiple devices using the network. Most IoT solution services offer API that can be readily combined with SIEM solutions. It makes SIEM software a crucial part of every business’s cyber security aspects.

Prevention of insider threats

External risks aren’t the only elements that make companies weak, insider risks deliver a considerable threat. SIEM software enables organizations to observe employee activities and generate alerts for irregular plays.

SIEM use in compliance

Tighter compliance controls are driving businesses to spend more profoundly on IT security. SIEM has an essential role in helping companies resonate with PCI DSS, GDPR, HIPAA, and SOX models. Such compliance aspects are becoming more common and efficient in detecting threats. SIEM was primarily used by large enterprises, due to the increasing focus on compliance.

Importance of Cyber Security at Virtual Events

In this digital world, there are various chances of serious disruption that can occur at online events. Hence, cyber security at virtual events is an important concern for every event organizer. Cybercriminals are keen to take benefit of any loophole that may arise if your virtual event platforms are not secure. The abrupt shift to virtual conferences, meetings, and other online events may include several chances for hackers to step in. Therefore, it is vital to choose an end-to-end encrypted virtual event software for your digital events.

If you’re conducting a town hall meeting only for your employees, you can ask the attendees to join via an enterprise-level VPN. But, this approach may not be followed by large-scale events. Hence, this is why the best solution is to select an events platform that offers complete end-to-end encryption for all types of events.

Final Word

The most reliable cloud software is supported by services that recognize cybersecurity as an important aspect. As technology evolves, companies have started having a dedicated security team. These departments are employed to identify the potential threats in time. After identification, they ensure to practice vital steps required to mitigate these risks and host successful virtual events.

If you have any questions, please ask below!