‍The power of an on-demand cyber risk quantification (CRQ) platform lies in its ability to harness an extensive amount of data, filter it, and consequently produce an objective assessment that offers key stakeholders an understanding of how likely their organization is to experience certain cyber events, along with the respective financial losses.

‍ “All models are wrong, but some are useful.” ‍ In the earliest days of cyber risk management, chief information security officers (CISOs) generally relied on matrices and other subjective risk assessments for strategic planning.

‍ Over the past few decades, cyber attackers have increasingly wreaked havoc on the market, taking advantage of newer, more sophisticated ways to exploit system vulnerabilities. However, in fear of losing competitive advantages, organizations had notoriously downplayed the impact of these attacks, misleading investors and resulting in stock prices that did not accurately represent the risk landscape. ‍

‍ ‍ Chief information security officers (CISO) or respective organizational cybersecurity leaders are most likely well aware of the cybersecurity risks their organizations face. However, being aware of and communicating important cyber risk management data to the board of directors are two entirely different matters.