Welcome to Ibex Analytics

Risk Analytics

Organizations that provide financial services, such as banks, insurers, brokerages, credit card companies, etc., have relied heavily on risk analytics in the past. However, firms in all industries can adopt suitable risk mitigation methods provided risk is identified and measured.

Any corporation may benefit from identifying and quantifying risk, whether it be transaction fraud for a credit card company, mortgage default risk, project delay risk, patient readmission risk, premiums for insurers, etc.

By connecting together the risks that are present across the firm, a leader may gain a comprehensive understanding that will aid in making strategic decisions at various levels that take into account pertinent risk.

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Why You Need Risk Analytics In Your Business

Risk management requires preparation for worst-case scenarios, especially since the world is more automated and digitized than ever. In this digital world, hackers are becoming increasingly intelligent, resourceful, and creative. As technology brings the global market together, risk management requires more tasks, resources, and deliverable--involving more stakeholders in every enterprise.

 

  • Integration of Structured and Unstructured Data

    Every organization brings in vast amounts of data from structured and unstructured sources. Structured sources include data stored in databases, while unstructured sources refer to information that is gathered from a company’s website, social media, video, photography, or non-database information. All of these sources (and the vast volumes of data) are available to the company, both internally and externally. With risk analytics, managers can bring all of this data onto a single platform to view, analyze, and create actionable insights.

  • Achieve Company-Wide Impact

    In the course of creating effective risk strategies, management teams can lose sight of the end goal, which is ensuring positive outcomes for the entire company. This is especially relevant if information is contained in siloes. Since risk analytics pulls up data onto a single platform, its impact is enterprise-wide.

  • Applying Risk Insights to Decision-Making

    Risk spans an entire organization, often crossing and overlapping all administrative barriers. Even with risk-related insights, knowing what to do with them can be quite a task. With risk analytics, organizations can sort data to help management develop foresight into potential risks and establish problem patterns. Risk analytics lays the groundwork for data insights.