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Honeywell Connected Enterprise

The Center for Business Analytics is pleased to recognize Honeywell Connected Enterprise as an honoree of the 2023 Drexel LeBow Analytics 50 Awards. Read more about how Honeywell Connected Enterprise used analytics to solve a business challenge.

Submitter

Michael Ruiz, PhD, Vice President and General Manager, Honeywell OT Cybersecurity

Company

Honeywell Connected Enterprise

Industry

Software and Cybersecurity


Business Challenge

Cybersecurity threats in the Operational Technology (OT) space are growing at an exponential rate. OT is at the heart of the world’s critical infrastructure. To protect critical infrastructure globally, companies are looking for intelligent asset tracking and asset management capabilities that enable cybersecurity teams to protect their enterprise IT and OT assets. Large organizations have tens of thousands of OT endpoints and hundreds of thousands of IT platforms. Bridging the divide between OT and IT with accurate, reliable and timely insights is crucial to solving this problem. It requires pre-processing of data at the edge and processing of data using advanced analytics at the enterprise level. Converting raw data into actionable insights in the cyber domain is a challenging problem for any organization.

Analytics Solution

Cyber Insights is a product co-created with Honeywell Connected Enterprise’s leading clients and focused on data-driven approaches that enable clients to leverage the platform to understand the state of their cybersecurity from vulnerability, threat and compliance perspectives. Leveraging advanced analytics, the system exposes diagnostic, descriptive and prescriptive analytics insight to help clients make sense of their complex technology ecosystem. Honeywell Connected Enterprise’s current version, in development, implements artificial intelligence and machine learning to provide predictive analytics and to model context-based prioritization and remediation plans.

Impact

This solution is still new. However, the company’s research indicates that this capability will decrease the time that an attacker goes undetected in an OT network by 50 percent, which can reduce costs associated with incident remediation that, today, average more than $4 million per incident, and limit damages caused by the incident, which average more than $100 million per incident.