Security Information and Event Management (SIEM) system aids in monitoring security events and incidents according to a set of rules defined by the organization and according to its policy. Monitoring is a key security control in incident handling and loss prevention as it enables the security department to be more aware and familiar with its threats map.
Incident patterns will lead to a more sophisticated security strategy and resource management and the fact that the security department is more and more aware of its risk environment enables it to minimize its vulnerabilities and, as a result, its threat materialization possibilities.
The SIEM also enables the definition of events threshold by correlating supposedly isolated events into a pattern. This threshold presents the risk appetite of the organization; the level of risk it will absorb before taking any corrective action. The SIEM can also work with a Security Operation Center (SOC) to enable preventive and detective actions to stop events ahead of time and before they can cause any serious damage to the organization’s assets.
The main advantage of SIEM system or services from a 3rd party is that it enables the company to integrate its security perception in the cycle of events that occur every day. The SIEM is an automatic mechanism that will operate by this perception and will translate it to alerts and even action items.
One major disadvantage in SIEM implementation is that organizations tend to believe that the system will alert on everything and if it doesn’t, that means that everything is ok. This is a misconception of a SIEM. The system requires a human brain behind it, especially if it monitors a critical path of information, and it is very important to have a team of experts behind it such as the SOC.