Final answer:
The security team is implementing an on-premises SIEM tool, meaning they will manage the tool on their own physical infrastructure, allowing for full control but possibly higher costs.
Step-by-step explanation:
The tool the security team is opting to use is an on-premises Security Information and Event Management (SIEM) tool. This means they are choosing to install, operate, and maintain the SIEM software on their own physical servers and infrastructure. The benefits of this approach include having full control over the security tool, potentially improved performance due to proximity of hardware, and the ability to meet certain compliance requirements that might necessitate data to reside on-premises. However, this could also mean a higher total cost of ownership due to the need to purchase hardware, as well as costs related to maintenance, upgrades, and staffing.