Risk analytics has traditionally been the mainstay of financial services organizations – banks, insurers, brokerages, credit cards, etc. However, if risk is identified and quantified, organizations in all industries can adopt appropriate risk mitigation measures.
Using Risk Analytics, Identifying and quantifying risk will benefit any organization – transaction fraud for a credit card company, default risk for a mortgage firm, project delay risk for a construction company, patient readmission risk for a hospital, premia for insurers etc.
Taking a unified approach by tying risk analytics associated across an organization can give its leaders a holistic view that will help in two ways – bring in a slew of tactical risk mitigation measures, and strategic decision making at various levels that bakes in relevant risk.
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