Perspectives

Risk analytics

The three-minute guide

If you’re frustrated that a massive amount of risk-related information is going unused, it’s worth giving risk analytics another look.

Why risk analytics?

Fear is risk management without analytics
The concept of risk management isn’t new. For years it has been a core responsibility of the C-suite. What is new, however, is the skyrocketing awareness of the importance of risk management.

The regulatory and economic environments have become more challenging, and the news headlines are replete with examples of what happens to organizations when risks aren’t adequately managed. As a result, risk sits at the top of the agenda for the executive team—again.

That’s a tall order for organizations relying on the same old approaches to risk management. It’s no wonder that so many are turning to risk analytics.

The benefits

Get the details
Risk analytics helps take the guesswork out of managing risk-related issues by using a range of techniques and technologies to extrapolate insights, calculate likely scenarios, and predict future events.

Understand the complexity
An organization’s exposure to risk is influenced by increasing volumes of structured data—such as databases—and unstructured data—such as websites, social media, and blogs—that are available to an organization internally and externally. Risk analytics can be leveraged to integrate this data into a single, unified view, gather valuable information, and enable actionable insights.

Cross the divide
In their scramble to build effective risk strategies, teams often fail to consider the overall impact to the organization. Risk analytics pulls data across the organization into one central platform, helping create a truly enterprise-wide approach.

Lay the groundwork
Risk is such a wide-ranging issue, spilling across organizational barriers, that it can be hard to know exactly what to do with risk-related insights. Risk analytics is instrumental in this scenario, allowing organizations to develop foresight with respect to potential risks and zero in on “crunchy” questions that lay the groundwork for action.

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