From observing to predicting risks: the role of analytics
- New Capabilities
The key to resilience is being able to anticipate risks and their potential for disruption faster than the changes taking place inside and outside an organisation. To do this, we need to manage huge volumes of data, but selecting what is reliable and useful is a gigantic undertaking with today’s “data flood”. Modern analytics are fundamental. They can channel data into actionable information, drawing from all processes within organisations. Advanced analytics can provide deeper, more advanced insights into patterns, trends and themes that may be hidden within data, allowing risk managers to understand risk at a deeper level than before.
Key Educational Message
The educational objective of this session is to increase risk managers’ understanding of how modern analytics and the technological instruments can help them anticipate future risks and disruption. They will be able to see how broadening IT, statistical and mathematical knowledge can enhance their professional role and support ERM.
