What is Risk Analytics?
According to one of the best definitions of risk analytics available at deloitte.com, risk analytics is about “organizations are seeking to increase “risk intelligence” by clearly defining, understanding, and managing their tolerance for and exposure to risk. Advanced analytics capabilities enable clearer visibility into the challenges associated with managing the many types of risk in such key areas as operations, regulatory compliance, supply chain, finance, ecommerce, and credit. By using analytics to measure, quantify, and predict risk, leaders can rely less on intuition and create a consistent methodology steeped in data-driven insights.”
Why Do I Need Risk Analytics?
According to IBM who we feel described most effectively why risk analytics is paramount for most companies: “Risk analytics solutions enable the world’s most successful companies to make risk-aware decisions through smarter enterprise risk management programs and methodologies—driving business performance and better outcomes. The combined risk management capabilities of IBM® Algorithmics® and IBM OpenPages® can help your company achieve profitable growth and address increasing demands for regulatory compliance in today’s volatile and complex market conditions. Risk analytics solutions enable you to: 1) Improve decision making by providing risk analysis, insight and transparency; 2) Increase return on capital by making risk-informed decisions on how to optimize capital allocation and qualify for regulatory incentives under Dodd-Frank, Basel II/III, Solvency II and more; 3) Accelerate and streamline risk processes to reduce costs from credit losses and manage operational risk; 4) Reduce the cost of regulatory compliance; 5) Dynamically evolve with a risk architecture that can efficiently adapt as risk management practices, client demands and regulations change.”
Why Choose Competitive Analytics to conduct Risk Analytics?