Robert Kugel's Analyst Perspectives

Action-Oriented Analytics Can Help Manage Risk

Posted by Robert Kugel on Jan 12, 2012 9:37:08 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, Governance, GRC, Operational Performance Management (OPM), Reporting, balanced scorecard, enterprise risk management, key risk indicators, KRI, risk and compliance, risk measurement, Business Analytics, In-memory, Business Performance Management (BPM), Financial Performance Management (FPM), Risk, Sales Performance Management (SPM), operational risk management