A look back at the week in Risk Analytics, Big Data and other buzzworthy items
THE ADOPTION OF ENTERPRISE RISK MANAGEMENT
A new study of risk professionals finds that adoption of enterprise risk management programs continues to rise. According to the Risk & Insurance Management Society Inc., 63% of respondents said they have “fully or partially integrated ERM strategies into their risk management programs.” That’s up from 54% in 2011.
DESCRIPTIVE, PREDICTIVE AND PRESCRIPTIVE: WHAT’S THE DIFFERENCE?
There are three types of analytics that are “necessary to obtain a complete overview of your organization.” Descriptive Analytics is about the past, Predictive Analytics is about the future and Prescriptive Analytics provides advice based on the future. This article says all three “contribute to the objective of improved decision-making.”
QUANTIFYING BIG DATA
A recent article in Technology Spectator asks the question: “Big Data Transformation- are we there yet?” Despite advances in Big Data technology, the article suggests, “most organizations don’t know which questions they need to ask.” This is just one of the challenges that remain for new big data adopters.
WHEN PREDICTIVE ANALYTICS AND CLOUD TECHNOLOGIES INTERSECT
Predictive Analytics is proving to be “the most effective way to put big data to work.” Cloud technologies are “delivering new data sources and providing a scalable, pervasive platform for analytics.” As the two intersect, there are “new opportunities for value and new ways to exploit big data.” Read more here.
GETTING STARTED WITH SECURITY ANALYTICS
New to the Security Analytics scene? Dark Reading has come up with seven tips to get started successfully. The tips include the need for pre-security analytics, measuring what’s important to the business, watching for changes to critical infrastructure and leveraging internal business intelligence experts.