Managed Detection and Response (MDR) is growing in popularity. Gartner projects that 50% of enterprises that utilize Endpoint Detection and Response (EDR) solutions will prefer having an outsourced MDR facility by 2025. In fact, the MDR market is estimated to be clocking $2.15 billion annually by 2025—more than twice the market size reported at the end of 2021. Such growth can be attributed to the growing number of data breaches, which are detrimental to corporations’ reputations, and a lack of resilient in-house teams of security professionals.
If you’re wondering whether MDR is a good security solution for your business, you may have questions. What benefits does it offer? How does it differ from an EDR solution? Read on to learn what Managed Detection and Response is, how it helps your business, and what differentiates it from other security solutions.
When considering an MDR solution, below are some common questions business owners ask.
Simply put, MDR is an outsourced cybersecurity solution that detects and responds to attacks. It combines technology, like threat intelligence and advanced analytics, with human expertise. Why is it so popular? Not only are data breaches on the rise but, due to the global talent crunch, many IT departments are either understaffed or overworked. MDR solves the staffing shortage while delivering an advanced cybersecurity solution that stays current with today’s evolving threats.
Managed Detection and Response is a comprehensive service. Below are some of its key features:
Proactive security: MDR goes above and beyond your typical cybersecurity offering. Not only does it monitor your network and systems for attacks, but it also provides proactive defense intelligence and insights on advanced threats. Gant Systems takes proactive security a step further. We include cybersecurity staff training in our Managed Cybersecurity solution, which arms your employees with the knowledge and skills to prevent attacks.
Compliance: While typically MDR is more focused on threat detection, the service may improve your compliance score and prevent increases in your cybersecurity insurance policies. Compliance offerings may vary between providers, so we recommend you ask about this feature before signing up.
Advanced security tools: Whether your business has a suite of security tools or a single antivirus installation, your MDR provider can fill in the gaps—augmenting your security technology with their own. The tools your provider offers will be modern and free to use as part of your package, which is a benefit as they can be expensive and unavailable for purchase by a non-MSP. Tools may include asset discovery, network traffic analysis, endpoint detection, cloud security, vulnerability management, and more.
Human support: Many security solutions available don’t provide real human, expert support. Managed Detection and Response does, and this is a key differentiator of the service. You have direct communication to analysts and other security experts via email, voice, and text. This human support can either augment your existing cybersecurity team or become your entire department.
An SOC is the people component of an MDR solution. In other words, a SOC is the human security team that monitors, detects, analyzes, and responds to cyber-attacks. The SOC can be an in-house or outsourced team, and they are usually centralized in a single location. They include a team of engineers and analysts who are responsible for the security of your databases, networks, servers, applications, endpoint devices, websites, and other systems.
An MDR solution differs from a SOC solution as MDR is a more comprehensive, complete security solution. Your business will be armed with multiple forms of security, like endpoint and cloud security. With tools like AI and machine learning at their disposal, MDR teams are quicker to identify and respond to threats.
The sheer amount of cyberattacks has exploded in the past several years. According to Cybersecurity Ventures, cybercrime costs are expected to grow by 15% per year for the next three years. By 2025, the annual cost could be as high as $10.5 trillion USD, which is a dramatic increase from its estimated $3 trillion USD in 2015. What’s the cause? The pandemic has likely played a role. The growing trend of remote working and new technologies, like the Internet of Things, have created what seem like an endless number of endpoints to secure.
Alert fatigue is also a growing concern. According to a Forrester study, 28% of security alerts are never addressed. Internal IT teams are just too overwhelmed. On a daily basis, they must deal with a never ending barrage of alerts, which can easily number in the thousands. The result is that internal security teams are tired, distracted, and often have to ignore alerts as they don’t have the bandwidth.
While Managed Detection and Response helps handle the endless pile of security alerts, it also provides much more, including:
It’s easy to see why Managed Detection and Response is becoming popular. The service provides a reliable, comprehensive security system that covers your business’ assets. Plus, you gain an entire team of experienced cybersecurity experts who protect your company 24/7 with the latest technology, relieving your internal IT teams of alert fatigue. Interested?
Gant Systems goes above and beyond the standard MDR solution. Included in your MDR package, we also provide cybersecurity training for your staff and multi-factor authentication (MFA) to protect their passwords. Why do we offer these additional services? Simple. These solutions are preventative. When your employees protect themselves and are aware of the various threats, your company is far more secure than it would be with a standard MDR solution.
Contact us today to learn how we can provide your company with better security while reducing costs. Schedule a Discovery Call now.
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