A service called risk intelligence allows businesses to evaluate the frequency and effect of stakeholder risk occurrences in an organized and verifiable fashion.
Risk intelligence allows firms to gather data that can be used to identify and quantify their risks. It allows companies to make informed decisions about their security risks and exposures.
Organizations can manage risk through risk intelligence. This includes identifying and mitigating risk, surfacing potential solutions, and finally creating value for everyone.
Risk intelligence covers all potential threats a company might face such as cyber threats and extreme weather events, customer dissatisfaction or supply chain failures. It is important to quantify every common threat as well as high-risk situations.
Risk intelligence refers to the ability of an organization recognize, evaluate, mitigate, and mitigate the risks posed from stakeholder perceptions and competitor activity, government legislation, or any other factors that could affect company success.
All these features are embedded in a risk-intelligence solution that is powered by alternative data, AI and machinelearning.
The modeling of risk-free scenarios is part of creating a baseline to risk intelligence. ‘Normality’ – zero-risk – is analyzed in connection to various challenges and stakeholders by scoring previous data for thousands of companies. This shows how an organization’s average risk score compares to others in its industry.
Risk intelligence technologies can detect alterations in a company’s risk profile by mining millions of bits of content from print, web, television, social media, parliamentary records, analyst notes, and stakeholder-specific channels.
Quantitative shift alerts are sent out when a topic crosses the usual criteria. An intelligent alerting system will include a push mechanism to assist in understanding threats and responding as quickly as possible.
CROs can use Alva’s Risk Intelligence solution to create custom applications such as horizon monitoring, scenario modeling, and parametric triggers.
The parametric triggering is used to activate stakeholder risks. This triggers the reporting of an incident, its assessment and quantification of its length.
Alva creates quantifiable stakeholder risks thresholds using five years worth of scoring risk data. An alarm is sent if any of these lines are crossed.
As the years go by, topic modeling will reveal thematic drivers related to specific stakeholders. This helps to identify the issues most likely to impact the business.
Risk modeling considers multiple situations to determine the best practices and control over outcomes.
Data is used to assist decision-making and prevent risk management devolving into crise management.
Risk intelligence offers CROs detailed information of all organic risks their business might be facing, how these fit compared to historic standards, and how their risk level ranks against sector competition, in addition to constructively tracking a company’s known risks and reporting on any material changes in their risk status.
This data provides the foundation for cross-stakeholder risk management and reporting.
Given the speed and variety of stakeholder risks, companies that use cutting-edge risk intelligence solutions are more likely to prevent crises from developing. These organizations will be risk intelligence.