Managed detection and response (MDR) security is one of the most popular cybersecurity offerings available today. In fact, the total MDR market is expected to grow at a massive 28 percent compound annual growth rate (CAGR) from 2020 to 2028—reaching over $7 billion by that time.
But what makes MDR security such a desirable product? There are several things driving enterprises to adopt MDR at a breakneck speed. Much of the explanation lies in the underlying functionality of MDR. Let’s investigate the three critical steps to MDR security.
What Is MDR Security?
Each part of MDR’s name holds a significant piece to its meaning and inherent functionality. First, it’s managed. This means you’re going to be utilizing a third-party platform as a service. While this might sound unintuitive for a security offering, it brings the same performance and flexibility of other cloud offerings—at a much more enticing price.
An MDR solution needs to be built on a combination of human expertise and technological advancement. Your networks are only going to be kept secure when they’re being safeguarded by that combination. You can guarantee those looking to steal your critical data are going to utilize their best techniques and tools. Your MDR security solution needs to be able to do this as well.
The next two elements of MDR, detect and respond, are two of the three critical steps to MDR security. We’ll look at these next.
What Are the Three Critical Steps to MDR Security?
Once you understand MDR security, you need to learn its deeper workings. There are several key steps to MDR that make it such a powerful security solution. Here are the three critical steps to MDR security:
- Collect – You’re only going to prevent a breach if you’re continually taking in and analyzing network data. This requires a comprehensive regiment across the board—from firewalls to endpoints—to identify suspicious activity before it leads to loss.
- Detect – As you find it right in the name of MDR, detection is the phase of protection building on collection. By sifting through the collected data, MDR can find unusual activity, which can then be resolved by a security expert.
- Respond – When a dedicate team is doing all the legwork of stopping threats, internal stakeholders only need to receive the most essential alerts. Not only does this lead to better security results, it also saves the time and resources of organizations.
These are the three critical steps to MDR security. When working in tandem, they can provide superior defense against incoming threats. But does it make sense for your enterprise to go with an MDR solution?
Should Your Organization Adopt MDR Security Solutions?
The sharp rate of adoption in MDR services suggests that businesses and agencies are deriving significant benefits from these platforms. This checks out with the data that has been collected from various sources.
For instance, MDR+ from Open Systems can achieve “an improved security posture, faster threat detection and remediation, improved productivity of cybersecurity and IT staff, and reduced time and effort in conducting audits – all while achieving a 174% return on investment (ROI) in three years and payback in less than six months.” These are incredible numbers that show MDR can be a massively effective use of capital.
Beyond the financial benefits of adopting MDR, organizations also need to consider how it can preserve their reputation. It’s hard to put a price on the good will clients and customers have toward your business. If you lose critical customer data in a breach, it can change their perception of you forever. There’s no price you can put on trust.
The three critical steps to MDR are what make these security platforms so effective. Leveraging MDR at your enterprise can improve its security posture, while also saving money.