Fall World 2014

Conference & Exhibit

Attend The #1 BC/DR Event!

Summer Journal

Volume 27, Issue 3

Full Contents Now Available!

June 28, 2013

Big Data Makes for Smarter Risk Management

From the smallest business decisions to the largest ones, risk influences all that we do. But taking a risk is not exactly like spinning a roulette wheel, where luck is the primary ingredient for success. With use of the right tools, risks can carefully be calculated, controlled and managed, greatly reducing the variable of bad luck.

Many successful CFOs today are accounting for the impact of outside forces – from regulatory changes, interest rates, supply chain and other operational events to natural disasters and even consumer sentiment – to inform, shape and govern their corporate strategies.

While the nature of the finance function has historically been to analyze past performance, risk is inherently forward-looking. CFOs must move beyond their traditional domain and use performance indicators and risk to predict the future. By discovering hidden patterns of risk rooted within their ledgers and spreadsheets – and integrating risk with financial management – CFOs can provide critical linkages between strategy and execution and stay ahead of the curve.

...

http://www3.cfo.com/article/2013/6/risk-management_fuessler-big-data-ibm-predictive-analytics-dmv