An expert in economics and cybersecurity applies opportunity cost and other concepts of the “dismal science” to infosec roles.
Security and IT leaders are familiar with the challenge of making trade-off decisions about how and where to invest resources to best manage risks to the organization. Viewing their problems through the lens of economics may help them reprioritize these tricky investment decisions.
Tom Scholtz, research vice president at Gartner, took a deep dive into this idea during a talk at Gartner’s Security & Risk Management Summit, taking place online this week. Scholtz argued how concepts such as opportunity cost, core to the study of economics, can prove just as useful in cybersecurity, where it’s often tough to determine whether resources are spent properly.