SIEM, which stands for Security Information and Event Management, is the correct acronym that covers the real-time analysis of security alerts generated by applications and network hardware. SIEM systems aggregate and analyze activity data from various resources across the IT infrastructure, such as network devices, servers, and domain controllers. They operate on rules-based and statistical correlation algorithms to establish relationships between log entries, providing reports on security-related incidents and events, and sending alerts if the analysis indicates a potential security issue. This enables organizations to gain insights into their security posture, identify trends, and detect threats or anomalies that could indicate a security incident1.

References: = The BCS Foundation Certificate in Information Security Management Principles acknowledges the role of SIEM in monitoring and analyzing security events in real-time as part of an effective information security framework1.