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What Are the Prerequisites to Make a Good SOC?

October 7, 2022

A SOC analyst must be highly skilled in communication, mentoring, and problem-solving. They must also possess advanced analytical reasoning skills and work effectively under pressure. In addition to these skills, a good SOC analyst should have strong organizational and problem-solving abilities.

Investing in technology

Technology investments can boost a business's productivity and customer service. These investments also help businesses expand, reach a wider audience, and achieve success milestones. Facebook, for example, allows users to create business pages and invite customers to share information about their business. With these tools, a company can expand, sell more products, and increase revenue more quickly.

However, technology investments can pose some challenges. Many of the companies that are undergoing this transformation aren't yet profitable. This makes it difficult to measure their profitability through P/E ratios. To assess the profitability of such companies, investors should focus on revenue growth. It is important to note that an unprofitable company should be able to move from a loss to a profit as soon as possible. In addition, a growing company should become more efficient while minimizing marketing and sales spending.

Technology is becoming increasingly ubiquitous. In the past decade, more than two trillion dollars have been spent on new technology. That number is expected to grow to $2.4 trillion in the next few years. The Internet of Things (IoT) is poised to be the most significant technology investment, as it brings everything online and connects billions of devices. While hardware investments are more beneficial for companies in asset-heavy industries, software investments benefit companies in asset-light industries.


Formal security policies

A good SOC should include formal security policies or guidelines that outline how the organization will handle alerts and other security threats. These policies should consist of a vital password requirement and other authentication requirements. They should also specify any access tokens or biometrics needed for specific systems. Employees should be contractually bound to abide by these rules. Formal security policies should also include guidelines on handling data breaches and other threats.

A security policy should be written clearly and concisely, keeping in mind that the audience for such documents is usually non-technical. It should also include definitions of key technical terms. Lastly, it should clearly define the limits of risk and what level of risk is acceptable. In other words, a security policy should be a management document that considers the organization's risk appetite.

Security policies should be updated and reviewed regularly. This is important, as a poor policy will weaken the company's security measures. Besides being updated annually, security policies should be acknowledged by all employees and reviewed regularly. It should also be followed strictly by the company.

A good SOC should be located in a secure room within the facility. Physical barriers should be used to protect the space. A good SOC should also be equipped with a complete set of tools and technologies to ensure that information system are adequately protected. These include a security information and event (SIEM) system, an incident tracking system, a threat intelligence platform, and automation tools.

Organizations should have a designated administrator who is empowered to prioritize security. This person should be able to reward employees who follow security guidelines. Furthermore, organizations should have a security help desk that provides advice and solutions to any security problems.


Developing a plan

Developing a plan for a good SOC requires the use of various resources. A SOC must be capable of investigating incidents and using log data to trace the problem back to its source. Moreover, cybercriminals are constantly evolving their tools and tactics. Therefore, improving the SOC to combat evolving threats continuously is essential. To do so, SOC should develop a Security Road Map and incorporate hands-on practices, such as red-teaming and purple-teaming.

A good SOC is built over a long period and requires investment and knowledge. While no perfect SOC fits every organization, a few general guidelines and resources can help you get started. The main point of these resources is that they provide the necessary foundation and understanding to build a robust SOC.

While there are numerous ways to implement a SOC, the most common is to establish an in-house operation. Another option is to hire an outsourced SOC or a managed team. An in-house process may seem the most convenient solution, but it can take time to build an effective SOC and recruit skilled personnel. Additionally, it requires a separate budget.

A plan for a SOC must include a clear definition of the SOC's mission and scope. Ultimately, the SOC should help an organization achieve its objectives. In particular, it should identify the SOC's business-critical use cases and functional requirements. This will help the SOC develop its services proportionately.


Having an MSSP on call

An MSSP on call can provide critical support to your organization, particularly during significant incidents or sickness. In addition, an MSSP can help augment the work of your SOC staff. Ideally, an MSSP will have the expertise to monitor systems around the clock and the ability to communicate with you and other staff members. Finding an MSSP with experience protecting organizations of your size is also essential. An MSSP should also be able to provide daily, weekly, and monthly reports.

Another significant benefit of an MSSP is that it offers access to an experienced team of security experts. This ensures your business remains in compliance with the latest industry regulations. Additionally, an MSSP can handle large volumes of data at once and around the clock. These capabilities will help your organization focus on legitimate incidents and minimize false positive alerts. A good MSSP can provide proactive support and manage logs and alerts remotely to help identify and respond to attacks.

Another benefit of having an MSSP on call is its cost-effectiveness. The cost savings from having a security team on-call can make MSSPs an ideal option for organizations that do not have the in-house resources to handle security incidents. Furthermore, an MSSP's 24/7 oversight can help organizations reduce dwell times, which can be crucial when deciding whether to use an MSSP.

With the global nature of the Internet, attacks can happen at any time of the day or night. This is particularly true of ransomware, which often begins encrypting files as soon as it has gained access to your system. This is why your organization needs comprehensive security measures. There are two options: an in-house security operations center or a managed security services provider.


Developing a budget strategy

A good SOC will need to spend its money in the right areas. A traditional SOC can cost millions of dollars annually, and it can take many people to maintain it. While this can be a cost that discourages many small businesses, it is still possible to replicate the capabilities of a traditional SOC through alternative means.

Developing a budget strategy involves determining the amount of revenue the organization is expected to generate. This budget should be based on assumptions, including expected grants and donations. It should also include fees for services and events. Once the budget is developed, the team will have to cut expenses to achieve the goals.

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