Ventana Research Analyst Perspectives

Action-Oriented Analytics Can Help Manage Risk

Posted by Robert Kugel on Jan 12, 2012 9:37:32 AM

Risk has always been an integral part of business, but as I’ve noted, companies deal with risk with varying degrees of effectiveness. A complex, ongoing process, operational risk management identifies risks to support successful operations of an organization, estimates the monetary and other measurable impacts if a risk event occurs, establishes methods for mitigating the severity of impacts should they occur, continuously measures the probability of a risk occurring within a relevant period of time, periodically reports on the risk environment to appropriate decision-makers and alerts executives and managers when risk thresholds are crossed. These important activities should make operational risk management of greater interest to executives in today’s volatile business environment.

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Topics: Big Data, Performance Management, Sales Performance, Governance, GRC, Reporting, balanced scorecard, enterprise risk management, key risk indicators, KRI, risk and compliance, risk measurement, Operational Performance, Business Analytics, Business Performance, Financial Performance, In-memory, Risk, operational risk management