Impact of Big Data on Different Risk Types

September 12, 2016
Impact of Big Data on Different Risk Types

By Zenobia

The majority of the advantages and challenges offered by Big Data stem from its massive volume and variety of data generated. However, different risk domains stand to benefit from Big Data technologies in different ways. Big Data can be targeted to your organization’s particular needs – whether they are for greater volume, variety, velocity or veracity – and strategically applied to enhance different risk domains.

Given here is a quick summary of the impact of Big Data on risk management and decision making.

Risk domain Volume Velocity Variety Veracity
Credit risk Very High Very Low Low Very Low
Market risk Medium Low Very Low Very Low
Operational risk Medium Very Low Very Low Low
Compliance risk High Low High High

 

Big Data technologies will allow the development of models that will support everyday Risk Officer Decision-making.Learn more about the how Big Data can help you in Risk Management in our next executive development program, which will be conducted on 21st and 22nd September in Mumbai. Click here to learn more.

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