Forecasting is an analytics tool that observes patterns and projects possible future ratings by extracting information from existing data sets. It provides forecast scenarios and a forecast of your risk assessment.
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SPM App: Action Plans ➔ Forecasting
- A forecast is based on the security performances of organizations, worldwide.
- Provides 2 years of data: 1 year of historical data and 1 year that shows a projection of the upcoming year’s level of security performance.
- Based on our current security rating algorithm. We periodically makes changes to the rating algorithm. Changes to the rating algorithm will also impact future ratings.
Use Cases
- Set security progress expectations with senior leadership and build strategies around resource allocation and technology implementation.
- Create scenarios, which are projections of your goals, to help you align your resources.
- Your risk manager can share with other groups (finance, sales, and other areas where risk could be impacted) and open up discussions to help change the way security is funded.
- Minimize ambiguity and provide credibility on the level of risk.
- Hold third parties accountable to a commitment.
Before Starting and Using Forecasting:
Despite our dedication to building a reliable and accurate forecast, we cannot guarantee the projected rating will happen or claim Forecasting can be used to predict data breaches and other cybersecurity events. It’s solely a projection of what may happen to your Bitsight Security Rating, with an acceptable level of reliability.
Learn how to generate a forecast and define scenarios and review the guide to effectively use Forecasting.
Publish Date or Recent Edits
- October 29, 2024: Rating Improvement renamed to "Forecasting."
- July 11, 2024: Linked to guide.
- January 6, 2022: Navigation instructions.
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