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The Answer To Risks Lies In The Data

Emmanuel Christi Das, Editor

Analytics turn your data from useful to extremely effective and allow you to make changes that will benefit your organization as a whole. A survey by Deloitte found that 55 percent of organizations believe that analysis improves the organization's competitive position and 96 percent agree that it will continue to become more important over the next three years.

Use of data analytics on the big data of organizations is crucial for understanding the

business and its vulnerabilities. While data-enriched insights facilitate putting tailored defenses in place, technology enabled control measures help in monitoring risks effectively. Just as risks vary depending on the industry type or a particular segment within it, recent advances in technology have created the specific tools to efficiently control threats, without over-controlling risks which choke business innovation. While analysis of big data improves risk assessment performance to identify all potential risk types, it also helps to deploy relevant controls in place, averting potential threats.

Application of big data strategy in risk management will help in eliminating the culture of gut-level decision-making on the part of businesses. Emphasis on data-driven decision-making helps in devising out rational decisions while moving the maturity of the organization’s security culture forward. In an era of rising compliance expectations and increased security concerns, enterprises that embrace rapidly advancing big data solutions will create robust risk management posture and achieve sustainable business growth.

We at CIO Insider have kept a close eye on the developing technologies affecting every aspect of a business. We also understand the dire need for risk management solutions providers who put in the science behind analyzing and dodging risks. So here’s a list of those few who have understood the science and calibrated solutions.

Let us know what you think.

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