Quantifying Cyber Risks for Strategic Decisions: Quantified Business Exposure to Risks [QBER]

Quantifying cyber risks is essential for organizations to make informed decisions. However, current approaches still need to work on blending economic viewpoints to provide insightful analysis. To bridge this gap, we introduce QBER approach to offer decision-makers measurable risk metrics. Our contributions involve outlining cyberattack probabilities and risks, identifying Technical, Economic, and Legal (TEL) impacts, creating a model to gauge impacts, suggesting risk mitigation strategies, and examining trends and challenges in implementing widespread Cyber Risk Quantification (CRQ).