Economics of Identity and Access Management : Providing Decision Support for Investments

The main purpose of this paper is to explore how Identity and Access Management is an important asset in economics especially in decision making to support investments. Identity and Access Management (IAM) is a major driver for corporate companies, as it facilitates digitization, security management, and regulatory compliance. Many organizations, unfortunately, have difficulties with Identity and Access Management. The emphasis of debates on IAM is placed squarely at the operational level, instead of the strategic decision-making level. Organizations are facing a growing number of internal and external vulnerabilities and threats; resources and budgets are insufficient to handle them all. Decision-makers (e.g., CIOs, CISOs) must decide which projects and initiatives to prioritize and support in the justification of investment requests. This is true for IAM investments against other potential security or commercial initiatives that the company might make. Various strategic goals of interest, including security, agility, assurance, productivity, compliance, and empowerment, are influenced by a variety of potential IAM investment choices in this situation. This system and approach enable companies to solve this enormous issue that they face and arrive at an appropriate model, with the assistance of a decision-support tool. To find a perfect investment opportunity, a proposal that has been developed in partnership with security and IAM specialists relies on both economic modeling (where it considers decision-makers' expectations among the various outcomes) as well as system modeling and simulations to pinpoint probable outcomes. For example, in this research study, there will be a demonstration of how the IAM approach has been used in a corporate environment and the context of key corporate operations. This is still in the work but achievements and future actions especially in the U.S are discussed