One of the biggest obstacles that our customer faced in its cybersecurity strategy was properly measuring and conveying the risks associated with cyber threats. This was a significant challenge for making important decisions within the company and meeting the strict regulatory requirements imposed by organizations like the Securities and Exchange Commission (SEC). These regulations mandate publicly traded companies to disclose significant cyber incidents and their potential financial impacts to investors in a timely and transparent manner. The SEC's rules are designed to ensure that investors are fully informed about the material risks and incidents that could affect a company's financial position or operations, making the airline’s precise assessment and reporting of cyber incidents a strategic necessity and a regulatory obligation.

The ever-changing and uncertain nature of cyber threats posed a significant challenge for our customer in effectively communicating these risks to their stakeholders. It was crucial for them to find a way to simplify the complex technical aspects of these threats into clear and actionable information that could be easily understood. This translation was necessary for our customer to successfully navigate the complex world of cyber risks while staying in line with their overall business goals and operational efficiency.

In response, our customer sought the assistance of X-Analytics, a sophisticated platform that helps organizations understand their cyber risk, create the right mitigation plan for their business, and track and communicate progress over time. Additionally, X-Analytics provides economic risk metrics so organizations can understand their economic exposure based on losses that industry peers have actually experienced. This decision signified a pivotal change in the airline's approach to cybersecurity, as it became increasingly aligned with the company's broader business goals.

By utilizing X-Analytics, the security team was able to attain a more accurate understanding of how to effectively convey cyber risks in terms of financial impact. This enhanced awareness would prove invaluable in making informed strategic decisions and allocating resources while adhering to regulatory guidelines and reinforcing the airline’s steadfast commitment to continuously enhancing its robust cybersecurity measures.

Their implementation of X-Analytics represents a significant change in how they manage cyber incidents and overall cyber risk. This new focus emphasizes fully grasping the aspects of a cyber incident, including accurately determining its seriousness and potential financial costs. The X-Analytics platform is pivotal in helping the airline understand the financial consequences of cyber incidents, a vital insight as it guides both their immediate actions in response to an incident and shapes their long-term cybersecurity investment strategy.

By presenting the economic impact of cyber incidents, the customer can make more informed, financially-focused decisions. This approach ensures that their cybersecurity investments are proactive and carefully aligned with their overall risk management strategy and existing control systems. This strategic perspective helps the airline respond effectively to immediate threats and plan and strengthen its cybersecurity framework for the future.