What is CRQ?
Cyber risk quantification is the process of measuring and analyzing the financial impact and probability of cyber risks to an organization. It involves assessing the potential impact of cyber incidents on an organization’s assets, operations, and reputation, and determining the likelihood of such incidents occurring.
Cyber risk quantification typically involves a combination of quantitative and qualitative analysis, such as statistical models, risk assessment frameworks, and scenario-based simulations. The goal is to provide decision-makers with a clear understanding of the potential financial impact of cyber risks, which can help them make more informed decisions about cyber risk management and investment in cybersecurity measures.