Knowledge, Information, Uncertainty and Risk

Risk is related to Knowledge. The more we know about a system the more confident we can be of making decisions that affect the future. Our ability to effectively manage risk is contingent on how much knowledge we possess about the system. However, possessing knowledge is merely the first step in managing risk.

The next step in managing risk is to act in the information (knowledge) we possess. Well managed risk invariably involves a quantitative understanding of the consequences of risk and the decisions we make based on the knowledge we have.

In a highly dynamic system, such as an actively used IT Network, the risk is constantly changing. Thus it is imperative that we constantly update our knowledge and make decisions based on the new knowledge.

In this session, we will focus on the question of how SanerNow helps in constantly updating our knowledge (in the context of vulnerabilities to cyber-attack) and how well we are utilizing the knowledge we possess using a novel approach based on the concept of entropy.

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