Quantifying cyber risk is an important decision-support process that involves identifying, assessing and evaluating potential risks associated with a particular course of action or decision. It helps organizations make informed decisions by providing a better understanding of the measured risks involved and their possible consequences. A decision is essentially a resolution to these questions, where the pros and cons of different options are weighed, and the best one is selected based on priorities, values and beliefs.

This article discusses the process of cyber risk quantification (CRQ) and its benefits in prioritizing risks, allocating resources effectively and mitigating cyber threats.