RONSI: a framework for calculating return on network security investment

Kousik Barik (), Sanjay Misra (), Luis Fernandez-Sanz and Murat Koyuncu
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Kousik Barik: University of Alcala
Sanjay Misra: Institute for Energy Technology
Luis Fernandez-Sanz: University of Alcala
Murat Koyuncu: Atilim University

Telecommunication Systems: Modelling, Analysis, Design and Management, 2023, vol. 84, issue 4, No 7, 533-548

Abstract: Abstract This competitive environment is rapidly driving technological modernization. Sophisticated cyber security attacks are expanding exponentially, inflicting reputation damage and financial and economic loss. Since security investments may take time to generate revenues, organizations need more time to convince top management to support them. Even though several ROSI techniques have been put out, they still need to address network-related infrastructure. By addressing gaps in existing techniques, this study delivers a comprehensive framework for calculating Return on Network Security Investment (RONSI). The proposed framework uses a statistical prediction model based on Bayes’ theorem to calculate the RONSI. It is validated by Common Vulnerability Security Systems (CVSS) datasets and compared to existing studies. The results demonstrate that the annual loss is reduced to 75% with the proposed RONSI model after implementing a security strategy, and the proposed model is compared with existing studies. An organization can effectively justify investments in network-related infrastructure while enhancing its credibility and dependability in the cutthroat marketplace.

Keywords: Return on network security investment (ROSI); Cyberattack; Network security; Bayesian approach; Investment decisions (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11235-023-01039-9

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