What Is SIEM? An Overview of SIEM 

Security management is essential for IT leaders, helping identify and address risks in systems and environments. Security information and event management (SIEM) software helps with security management by collecting and processing data and performing automated incident responses.

If you’ve ever wondered “what SIEM is and how it works,” this article is for you. The blog highlights the advantages of SIEM, tips and best practices for implementing SIEM, and more.

What Is SIEM in Cyber Security?

What is Security Information and Event Management (SIEM)? The term “SIEM” refers to a class of software solutions that collect, monitor, and analyze real-time security data from various sources in an IT environment. These sources may include network devices, endpoints, servers, databases, and software applications. Once SIEM solutions have aggregated this data, they process and analyze it, mining it for valuable hidden insights about security threats and vulnerabilities.

Applications of SIEM in a Business IT Environment

SIEM solutions can be tremendously helpful and valuable in an enterprise IT environment. Analysts predict that the global SIEM market will soar from $3.9 billion in 2020 to $18.1 billion in 2030, with an annual growth rate of 16.4 percent (Allied Market Research, 2022).

Below are just some of the use cases of SIEM tools:

• Risk assessment: By collecting and analyzing information from different parts of the IT ecosystem, SIEM software can help identify potential security risks and determine their severity and potential impact on the organization.
• Threat detection and response: Many SIEM tools include features for automated incident response. For example, based on a particular log or event, a SIEM system might take a predefined action or trigger an alert for human employees to review.
• Investigation and forensics: In the wake of a cyberattack, analysts can use the data collected by SIEM software to perform root cause analysis, understanding the cause of the attack and revealing the attacker’s movements throughout the network.
• Security auditing and compliance: SIEM software can be valuable during security audits, demonstrating that the organization complies with data security and privacy regulations such as HIPAA, GDPR, and PCI DSS.

Advantages of SIEM

Given their many use cases, it’s no surprise that SIEM tools offer various advantages. Below are just a few benefits of using SIEM for cybersecurity:

• Better incident response: SIEM software helps organizations detect potential threats and breaches in real-time by processing massive quantities of data. These tools can also perform automated incident response in some instances, handling problems independently without human intervention.
• Centralized monitoring and reporting: SIEM software provides a centralized, all-in-one interface for users to monitor and observe events across the IT environment. This makes it easier to quickly identify and resolve security issues, reducing employees’ time and effort.
• Streamlined compliance: SIEM software can play a vital role in compliance. By collating logs and event data from different components in the IT ecosystem, SIEM tools can issue a single streamlined report that makes it easier to understand what’s going on at a high level.
• Covering all the bases: While SIEM tools alone aren’t sufficient for a robust IT security posture, they have advantages that other solutions, such as firewalls and IDS/IPS (intrusion detection/prevention systems), can’t provide. The unique advantage of SIEM tools is that they can correlate events and data from different sources, letting them detect incidents and patterns that other IT security tools would have missed.

How to Implement SIEM

If you’re looking to implement SIEM software within your organization, you’re in good company: 66 percent of organizations report that they are already using SIEM tools (MicroFocus, 2020). With many potential benefits and use cases, below are some tips for how to start using SIEM systems.

1. Find the right SIEM tool

SIEM software comes in all shapes and sizes, so finding the right tool for your needs is essential. Start by consulting a SIEM tools list to see which options are available. When looking for the best SIEM solution, consider factors such as: SIEM software comes in all shapes and sizes, so finding the right tool for your needs is essential. Start by consulting a SIEM tools list to see which options are available. When looking for the best SIEM solution, consider factors such as:

• Ease of use: Will only technical experts need to use the software, or non-technical business users as well?
• Pricing: How much does the software cost in capital or operating expenses, and are there any maintenance or support costs?
• Scalability: Can the software scale up and down as necessary to meet changing business needs?
• Data collection: Which data sources can the software collect information from?
• Regulatory compliance: Which laws and regulations is the software compliant with?

2. Define your use cases and metrics

As discussed above, SIEM solutions have several possible use cases, making them versatile and adaptable. However, this also comes with the obligation to define the SIEM’s use cases to understand whether its deployment is successful.

Delineate the metrics and key performance indicators (KPIs) that you will use to measure the SIEM’s performance. These may include:

• Event volume: The number of events the SIEM processes over a given period.
• False positive rate: The number of false positive alerts (i.e., benign events flagged as suspicious) generated by the SIEM.
• Mean time to detect (MTTD) and mean time to respond (MTTR): The average time it takes for the SIEM to detect and respond to anomalous security events.

3. Support the post-deployment phase

Installing the SIEM is vital but the first step to a successful deployment. To ensure that the SIEM software can do its job, it must be appropriately configured and tested to ensure it generates the correct alerts and reports.

As with any other complex technology, IT leaders need to put in the effort to ensure that the target audience adopts a SIEM tool. Training and education programs can help employees understand how to use the SIEM and how it aligns with their current workflow. In addition, IT employees should monitor and fine-tune the software regularly to ensure its proper functioning.

How Can the C|CISO Help in Understanding SIEM

SIEM software is an invaluable tool for businesses of all sizes and industries to strengthen their security posture. Whether you want to transition into an IT leadership role or already a chief information security officer (CISO), knowing how to construct a SIEM strategy and deploy SIEM tools will serve you well in your career.

EC-Council’s Certified Chief Information Security Officer (C|CISO) program gives current and future information security leaders the knowledge and skill set they need to defend their organizations from cyberattacks. The C|CISO certification provides instruction across the five domains of information security, including core competencies about SIEM, incident response, and threat management.

Are you ready to start or enhance your career as a CISO? Learn more about EC-Council’s C|CISO certification and how it can help you.

References

Allied Market Research. (2022). Security Information and Event Management Market: Global Opportunity Analysis and Industry Forecast, 2021-2030. https://www.alliedmarketresearch.com/security-information-and-event-management-market

MicroFocus. (2020). 2020 State of Security Operations. https://www.microfocus.com/en-us/assets/cyberres/2020-state-of-security-operations